PDA

View Full Version : property insurance


Taylormade
04-22-2019, 07:16 AM
I just received my property insurance bill for 2019. Since 2015, the premium has escalated by over 60%! I have had no claims during this period. Are others experiencing this huge jump in their property insurance????

Bonnevie
04-22-2019, 07:27 AM
yes, I have as well.

bagboy
04-22-2019, 07:43 AM
Meet with your agent, discuss coverage and options. Shop around.

N44125
04-22-2019, 07:49 AM
Yes, we did also. We use Villages Ins in LSL. Met with them and changed companies. Saved about $200. Also adjusted our golf cart(s) coverage. We originally insured when they were new and valued at +/- $10,000. Now that they are older their covered value has decreased. Remember Ins co will reimburse only for the current value, not the declared value. More savings.

vintageogauge
04-22-2019, 08:05 AM
Ours went up less than $100 and we shopped around, the best we could find was $30.00 cheaper and felt it wasn't worth switching for that little of a savings. We have Travelers Insurance through TV.

Cedwards38
04-22-2019, 08:16 AM
Time to shop for new insurance, and let your current agent know that you are.

Kahuna32162
04-22-2019, 08:33 AM
Up over $300 this year. Dropped American Integrity and went with ASI (thru Progressive) exact same coverage and saved almost $400 for 2019.

Did find this interesting when questioning the agent about the increase....I was told we won't be able to get a new policy anywhere else because of the age of our roof (2003). I guess everyone North of 466 is gonna need a new roof soon. BTW, Progressive said the roofs are good for 20 years.

graciegirl
04-22-2019, 08:38 AM
The world and appraisers think your home has become more valuable. You can sell it and move to a place where homes drop in value...………………...or

I am just kidding. Please don't move. We are up and coming here.

villagetinker
04-22-2019, 08:43 AM
We made the mistake of shopping last year, ended up with a D rated company, yes we did save money, but may have had major problems if we had a claim. Just started shopping again, but this time will check insurance company rating FIRST.

spring_chicken
04-22-2019, 09:01 AM
We've had the same insurance for 5 years with Allstate agency in Lady Lake. Got quotes from Villages ins and they couldn't touch it.

Taylormade
04-22-2019, 09:14 AM
Thanks all for your replies! I have American Integrity and I will check out Progressive. American Integrity went up 35% just this year. That is nuts. Their reply? "All insurance has gone up".

skyking
04-22-2019, 11:24 AM
The world and appraisers think your home has become more valuable. You can sell it and move to a place where homes drop in value...………………...or

I am just kidding. Please don't move. We are up and coming here.

Insurance rates are not based on the resale value, they are based on cost to rebuild.

rjm1cc
04-22-2019, 11:31 AM
The age of the roof may have an impact on your insurance. My understanding is that some insurers increase the premium significantly when the roof is about 15 years old.
Review each line item as the amount of coverage may be higher than you need.
Yes shop the policy.

Midnight Cowgirl
04-22-2019, 02:33 PM
It would be helpful when discussing important things such as insurance, if the poster would mention the agent/company they used and the insurance company they changed from and went to.

Has anyone received a quote from Esurance (online)?
I know if you bundle types of insurance (auto, sinkhole, household, etc.) you will get a better price. I think most companies will do this also.

Taylormade
04-22-2019, 02:56 PM
I called Progressive and they are at their limit for policies in this zip code and to try back in a few months! I've never heard of a company turning down business.

retiredguy123
04-22-2019, 04:11 PM
Don't expect your insurance company to give you a good price for being a loyal customer. Sometimes, the opposite is true. Insurance companies practice "price optimization" where they will raise your rate because you are a loyal customer and they don't think you will cancel the policy.

JohnN
04-22-2019, 04:13 PM
yes

pauld315
04-22-2019, 04:42 PM
I called Progressive and they are at their limit for policies in this zip code and to try back in a few months! I've never heard of a company turning down business.

Welcome to a state that has hurricanes.

pauld315
04-22-2019, 04:46 PM
The age of the roof may have an impact on your insurance. My understanding is that some insurers increase the premium significantly when the roof is about 15 years old.
Review each line item as the amount of coverage may be higher than you need.
Yes shop the policy.

American Integrity raised mine almost 20% with their last quote. They knew I had a brand new roof. I dropped them and actually I dropped all the insurance I had with Villages Insurance (about 3000 a year in premiums) and replaced all of it with State Farm. Cost about the same overall but I prefer being able to deal with one company for all of it including the house I own in NC.

pauld315
04-22-2019, 04:52 PM
Did find this interesting when questioning the agent about the increase....I was told we won't be able to get a new policy anywhere else because of the age of our roof (2003). I guess everyone North of 466 is gonna need a new roof soon. BTW, Progressive said the roofs are good for 20 years.

I had actually already contracted to have my 19 year old roof replaced when I received a letter from American Integrity that they would not renew our policy because the roof had been repaired ? I called Villages Insurance and they said they do this with all homes with roofs approaching 20 years of age. If you drive through the neighborhoods north of 466 you see new roofs being installed daily.

Peterriess
04-22-2019, 04:54 PM
We bought our house on 2/1/19. I called the local Allstate agent and got a very fair price quote. I paid the entire amount on the spot. Two weeks later I got another bill increasing the total $79.00. I immediately called the agent to complain. They quoted a price and did not honor it. The agency explained that the underwriter had added the increase because my house has "more than 10% hip roof area". I was furious and told them I would not renew or give them my car or any other insurance business. In all fairness, they went back and argued my case with Allstate and I got a refund. I'll stay with them and see what happens at renewal.

rjm1cc
04-22-2019, 07:14 PM
I had actually already contracted to have my 19 year old roof replaced when I received a letter from American Integrity that they would not renew our policy because the roof had been repaired ? I called Villages Insurance and they said they do this with all homes with roofs approaching 20 years of age. If you drive through the neighborhoods north of 466 you see new roofs being installed daily.

It would be nice if the broker or insurance company gave you a one or two year warning.

Midnight Cowgirl
04-23-2019, 02:29 AM
It would be nice if the broker or insurance company gave you a one or two year warning.


In theory, I agree with you. Yes -- it would be nice if they gave you some notice, but insurance companies just don't care.

On the other hand, a homeowner has self-created notice. They already know how old their roof is and that their roof is on a count-down for needing to replaced soon.

justjim
04-23-2019, 06:51 AM
Natural disasters, such as wildfires, floods, tornadoes and hurricanes affect insurance rates. In 2017, over 300 billion dollars in natural disasters, making it the most expensive year for disasters in US history. Last year hurricane Michael struck the panhandle of Florida costing insurance companies billions. Remember Katrina? Following Katrina, many insurance companies quit issuing property insurance, at least for a while. Yes, “Virginia” the cost of property insurance has gone up. Some experts predict we haven’t seen anything yet.

Carla B
04-23-2019, 07:28 AM
We bought our house on 2/1/19. I called the local Allstate agent and got a very fair price quote. I paid the entire amount on the spot. Two weeks later I got another bill increasing the total $79.00. I immediately called the agent to complain. They quoted a price and did not honor it. The agency explained that the underwriter had added the increase because my house has "more than 10% hip roof area". I was furious and told them I would not renew or give them my car or any other insurance business. In all fairness, they went back and argued my case with Allstate and I got a refund. I'll stay with them and see what happens at renewal.

That's odd, penalizing for hip roof area. They usually like to see hip roofs vs. gable roofs.

champion6
04-23-2019, 07:32 AM
That's odd, penalizing for hip roof area. They usually like to see hip roofs vs. gable roofs.:agree:

Chellybean
04-23-2019, 08:24 AM
American Integrity raised mine almost 20% with their last quote. They knew I had a brand new roof. I dropped them and actually I dropped all the insurance I had with Villages Insurance (about 3000 a year in premiums) and replaced all of it with State Farm. Cost about the same overall but I prefer being able to deal with one company for all of it including the house I own in NC.

watch out for State Farm when it comes time for them to step to the plate they do not do the right thing. They will fight paying out a claim even when the other person is 100% at fault. Also the Agent on 301 by 44 is not who i thought they where. I thought i had a personal relationship with them, but when it was time for them to deal with corporate State Farm they put there head in the sand. So sad Insurance company's are out for profit and that is it period.
When the storms came across Florida in the Villages in the middle 2000 Allstate, State Farm got out of Florida and would not right good customers and dropped customers that didn't even have a claim. Beware and watch who and what you are dealing with.
It is very said in Florida and legislation in Tallahassee is allowing it to happen and protects these insurances company for there bad behavior so they won't leave again. SOoooo sad.

retiredguy123
04-23-2019, 08:57 AM
We bought our house on 2/1/19. I called the local Allstate agent and got a very fair price quote. I paid the entire amount on the spot. Two weeks later I got another bill increasing the total $79.00. I immediately called the agent to complain. They quoted a price and did not honor it. The agency explained that the underwriter had added the increase because my house has "more than 10% hip roof area". I was furious and told them I would not renew or give them my car or any other insurance business. In all fairness, they went back and argued my case with Allstate and I got a refund. I'll stay with them and see what happens at renewal.
The people who sell insurance call themselves "agents" but they really aren't agents for the company in the legal sense. So, when an Allstate agent quotes you a price, they are not representing Allstate, and they are not bound by the quote, or to even approve your policy. I learned this the hard way. Read the fine print.

Rosalie
04-23-2019, 09:09 AM
Any recommendation for or against using Safe Harbor?

Chellybean
04-23-2019, 10:17 AM
The people who sell insurance call themselves "agents" but they really aren't agents for the company in the legal sense. So, when an Allstate agent quotes you a price, they are not representing Allstate, and they are not bound by the quote, or to even approve your policy. I learned this the hard way. Read the fine print.

unfortunately i found out the hard way too that Allstate and State Farm that only sells for there company is not loyal to there customers by any means either. JMO

Fredster
04-23-2019, 12:15 PM
Any recommendation for or against using Safe Harbor?

Here's a link to their financial stability rating
Financial Stability Ratings(R): Demotech (http://www.demotech.com/search_results_fsr.aspx?id=12563&t=2&AspxAutoDetectCookieSupport=1)

capecoralbill
04-23-2019, 12:52 PM
I tried to have Progressive quote me today, and here's what they wrote back:
""Geounderwriting: The address you are attempting to write does not fit within our Underwriting Guidelines. Underwriting cannot make an exception. Please place this risk with another market.""
I'm guessing they are aware of the SINKHOLES, in The Villages.

penak
04-24-2019, 12:30 PM
property insurance, it is always interesting to talk

pauld315
04-27-2019, 12:31 PM
In theory, I agree with you. Yes -- it would be nice if they gave you some notice, but insurance companies just don't care.

On the other hand, a homeowner has self-created notice. They already know how old their roof is and that their roof is on a count-down for needing to replaced soon.


When Hurricane Irma came through I had some shingle damage on my 18 year old roof. The insurance company came and inspected the damage and said the roof still had 7 or 8 years on it and that it was in great shape. They only gave me enough money to repair the roof because of that. Then a year later they sent me the notice that they were not going to renew my insurance when it came up for renewal because the roof showed signs of repair ! I had already contracted to have the roof replaced at the time. I called The Villages Insurance and that is when they told me the insurance companies routinely do this to roofs approaching 20 years of age. Insurance company was American Integrity. I have since dropped them.

Packer Fan
04-27-2019, 02:51 PM
I just received my property insurance bill for 2019. Since 2015, the premium has escalated by over 60%! I have had no claims during this period. Are others experiencing this huge jump in their property insurance????

I have ASI through TV insurance. Has not increased in 5 years more than like $10.... ASI was way cheaper when I qouted originally.