Homeowner Insurance 26% Rate Increase!!!

[sr1436]

I just got my homeowner renewal for January and nearly fell over, a 26% premium increase. I have USAA and have been member for 35 years. Called them and they are saying due to across board rate increases. Reviewed my coverages with them and nothing exceptional. 26% increase is crazy.

Anyone else having like rate increases? Recommend other providers?

[graciegirl]

Maybe because the value of our homes is going up?

[Bogie Shooter]

A new report ranks Florida as the most expensive state in the nation for home insurance, a dubious distinction that is straining homeowners' budgets and increasingly threatening the state's economy.

http://www.gainesville.com/article/20131217/WIRE/131219645/1002/NEWS01?Title=Florida-most-expensive-in-nation-for-home-insurance

[hema54]

I would shop around. It happened to us before. We were able to get the same coverage at a lower premium. Good luck.

[billethkid]

is this your first renewal....second year?
A usual game they all play to some degree is get you signed up (bait) then at rrenewal time, switch.

Go shopping and there is no doubt you WILL find a better rate.

There is no such thing as loyalty in the insurance game anymore.

After almost 60 years with State Farm and they screwed around with rates here until I finally dumped them. They hit me with 50% increases.

Now it is the cheapest bidder with a triple a rating.

[CFrance]

is this your first renewal....second year?
A usual game they all play to some degree is get you signed up (bait) then at rrenewal time, switch.

Go shopping and there is no doubt you WILL find a better rate.

There is no such thing as loyalty in the insurance game anymore.

After almost 60 years with State Farm and they screwed around with rates here until I finally dumped them. They hit me with 50% increases.

Now it is the cheapest bidder with a triple a rating.

Okay now I will be the sacrificial lamb. What is a triple A rating and how do you determine if a company has it?

[billethkid]

I think I crossed company credit standings with insurance ratings.

The AAA is a best for companies, banks, countries, etc.

There is an AM Best rating for insurance companies that most insurance brokers have for each provider. And I cannot remember the scale. Call your insurance broker or AAA (auto club insurance) they have the ratings/rankings.

btk

[784caroline]

SR 1436

Absolutely agree with you ...it appears that USAA does not care about members who have been with the comapny 40 plus years!!! We have sen increase 20% more per year last 3 years adn it was NOT due to increased home values...in many respects the coverage has declined..ie Sinkhole going form 2% to 10% deductible,

The problem we face is that most of us who have been with USAA for 30-40 or more yars have had great results with this company and are afraid to ask questions and god forbid change companies....You need to write USAA and voice your concerns in wrting

See prior posts at https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/unites-services-automobile-association-usaa-current-former-members-96323/

[billethkid]

don't let the years you have had get in the way of good judgement.
It is very easy to change companies. The insurance brokers at The Villages Insurance or AAA will help you get exactly what you want and save you $$$.

It is not as ominous as you might think.

[Cajulian]

Just a little inside info for you. I recently turned ownership of an Allstate Agency over to my son.

Even as an owner of a major brand Insurance carrier, I incurred significant increases occasionally on my homes or vehicles. Insurance works on "the Law of large numbers". What that means is that all of their insurance products are priced based on the volume of people insured for a like product. This is to spread the cost over a large base of people to keep the product affordable and risks low to the company.

However, in any given year, an Insurance carrier may sustain major losses due to what they call catastrophes. That may be something like floods, hurricanes, tornados, wildfires, and even growing substantial fraud in many states.

This can happen anywhere in the country they do business and the price changes will be spread to all insured's even if you have a spotless claim record and many loyal years as a customer.

It is sad, but that is how The Law of Large Numbers work. There are good years and bad years. This year at Allstate, some pricing is actually going down.

It does pay sometimes to shop around. But if you have a very good agent that constantly watches out for you, sometimes it is worth it to ride out the increases.

I know this info doesn't make it feel any better when you get hit with a price increase, but Agents aren't out to screw you. When you are not happy they lose their livelihood and customers. A good agent will bend over backwards to find every discount you deserve and identify strategies and alternatives to make sure the most important things in your life are covered properly.

[sr1436]

Thanks all for the info. Altho I have been a loyal USAA member for 35 years, now, as I have shared with them, their radical rate increase, is forcing me to take radical actions. I will be shopping them. Cajulian's reply regarding insurance agents is an interesting one and I agree. Interesting part is that USAA does not have agents "looking after my interest". Their agents, my experience, is to try to justify the USAA rate increase and quality of their company. When I asked the customer service reps/agents if they are getting a 27% salary to justify my 27% rate increase they don't have much to say.

The increase is not due to value increase. USAA tells me it is nearly all due to a rate increase.

Thanks all for info.

[CFrance]

We have never once, in 40 years, seen a decrease in home owner's insurance. I'd sure like to know where that is happening at Allstate. Can you be more specific?

[Skybo]

Just be aware that if you have sinkhole coverage now and change your homeowners insurance, you may not be able to get sinkhole coverage with the new company.

[justjim]

Just a little inside info for you. I recently turned ownership of an Allstate Agency over to my son.

Even as an owner of a major brand Insurance carrier, I incurred significant increases occasionally on my homes or vehicles. Insurance works on "the Law of large numbers". What that means is that all of their insurance products are priced based on the volume of people insured for a like product. This is to spread the cost over a large base of people to keep the product affordable and risks low to the company.

However, in any given year, an Insurance carrier may sustain major losses due to what they call catastrophes. That may be something like floods, hurricanes, tornados, wildfires, and even growing substantial fraud in many states.

This can happen anywhere in the country they do business and the price changes will be spread to all insured's even if you have a spotless claim record and many loyal years as a customer.

It is sad, but that is how The Law of Large Numbers work. There are good years and bad years. This year at Allstate, some pricing is actually going down.

It does pay sometimes to shop around. But if you have a very good agent that constantly watches out for you, sometimes it is worth it to ride out the increases.

I know this info doesn't make it feel any better when you get hit with a price increase, but Agents aren't out to screw you. When you are not happy they lose their livelihood and customers. A good agent will bend over backwards to find every discount you deserve and identify strategies and alternatives to make sure the most important things in your life are covered properly.
:mademyday: Spoken like a competent insurance agent and as a one who worked insurance many moons ago---very good advise.

I would only echo your point about shopping around and finding an Agent who cares. Your Agent is perhaps the most important part of your insurance package. GOOD LUCK!

[JRW8219]

This can happen anywhere in the country they do business and the price changes will be spread to all insured's even if you have a spotless claim record and many loyal years as a customer.



If you are in the business then you know that they can't just raise the premiums based on their broad book of business. Each state has insurance regulators who must allow the increase to happen. Yes catastrophes can hurt the companies bottom line but they are not allowed to just pass this on without regulation.

At least that was the case in the states that we did business with (not sure about FLA).

[Peachie]

If you are in the business then you know that they can't just raise the premiums based on their broad book of business. Each state has insurance regulators who must allow the increase to happen. Yes catastrophes can hurt the companies bottom line but they are not allowed to just pass this on without regulation.

At least that was the case in the states that we did business with (not sure about FLA).

Most of the increased cost people pay for anything these days is about the "something for nothing" stock market. I personally believe Allstate used to be much more interested in the consumer and a big bang for the buck. Now everything is about profit for stockholders and it's not just Allstate, it's almost everything we touch being inflated for profits or payback for doing nothing. The agents are squeezed with staff reductions at corporate levels that then push the additional work load on the agents requiring them to hire additional staff and then they have quotas to meet. If the insurance companies go private again, you may see a sensible price for insurance coverage, IMHO.

[rdhdleo]

We had State Farm all our lives and while service was good the rates skyrocketed so a few years ago we switched to AAA and never looked back, very same coverage we had with StateFarm at half the price for both our cars, golf cart and home.! Great service also.

[Cajulian]

We have never once, in 40 years, seen a decrease in home owner's insurance. I'd sure like to know where that is happening at Allstate. Can you be more specific?

Cfrance, periodically the major insurance companies (Allstate, State Farm, Geico, Progressive, etc.) when they are incurring significant problems or losses in a specific product line, will a open up a new sub-company under the umbrella of the overall company and offer new home owner or auto products with new underwriting guidelines. These new sub-companies are not yet diluted with major claim losses and this allows the prices to again be more affordable. Some Agents have the opportunity to save their customers that have good claim records and long loyalty and move them from their old policies to new ones in the newly opened sub-company. That's one way you can see your prices go down. The trick is trying to maintain low claim ratios in the new company.

[Cajulian]

If you are in the business then you know that they can't just raise the premiums based on their broad book of business. Each state has insurance regulators who must allow the increase to happen. Yes catastrophes can hurt the companies bottom line but they are not allowed to just pass this on without regulation.

At least that was the case in the states that we did business with (not sure about FLA).

JR, you are absolutely correct that prices can not be just passed on to the customers without any oversight and regulation. Every State has an Insurance Commission run by our government.

All price increases by every insurance company are mandated to submit increases to their State Commission and have to justify why they are needed and this is a very long process (months). Many times they are denied or reduced. It has to be based on a justifiable need, not just more profits for the companies.

[Cajulian]

One last comment (maybe) and I will be quiet.

It does make sense to shop around, if you have a good agent and you have asked questions on your opportunity to optimize your coverages or switch within their product offerings (new sub-company). If price improvements can't be found then go out and get quotes. MAKE SURE when you get quotes, you compare Exactly what your existing policy covers versus what the new policy will cover. Also, check if they significantly increased your Deductibles as this will lower your price, but you will pay more out of pocket when a claim is incurred.

However, remember, even the other companies will face claim losses from time to time and their Book of Business will be diluted with claim losses and the rate increase cycle starts with them. ALL insurance companies incur this situation.

Remember, it never hurts to move away and come back to a good company when their product pricing is in better shape. If your Agent is any good, He or She will try to win you back when they have a better pricing structure to help you.

[BettyCrocked]

We have our home and 4 vehicles in Alabama insured with USAA and just got our annual "rebate" check. This year it was $397!
This is the largest one I've seen in quite a few years. They send one out every year based on how the company is doing financially. They call it a dividend or premium rebate.
Does anyone in FL get these?

[Bill-n-Brillo]

Our recent H.O. renewal premium was actually lower than it was a year ago - went down around 4%. However, the increase from 2012 to 2013 was a bit over 16%.

All deductibles have remained the same except for sinkhole - went from a $1k deductible for 2012 to 10% of dwelling value beginning in 2013. Value of the dwelling increased by only $1k from one year to the next. Might need to have that reevaluated for insurance purposes! :D

Bill :)

[2BNTV]

I went to "Great Florida Insurance" in Leesburg and spoke to a Brad.

I was quoted a first time price of $900, from "The Villages Insurance Company", in SS. I then talk to Brad, and he got the same policy, for $670 thru American Integrity Insurance Company Of Florida. Saved $230!!!

1326 W. North Blvd #1
Leesburg, Florida
352.365.1222

He also insured my golf cart, as it needs to be kept separate, from the homeowners policy.

The Villages Insurance Company, gave me a great rate for auto insurance, so as always, one needs to shop for acceptable rates, that comare apples to apples.

Good luck, in finding a great rate.

[bimmertl]

There is a lot more involved in buying insurance than just obtaining "great rates". Obtaining the proper coverage should be a priority and then selecting a reputable company is also extremely important.

No doubt some of the wonderful agents place many residents with carriers such as Universal Property, the #2 writer in the state. This company was founded in 1997 and has a less than stellar reputation. For all of you with that company one good only wish you good luck!

Regulators fine Universal Property, state?s largest private insurer, $1.3M - South Florida Business Journal (http://www.bizjournals.com/southflorida/news/2013/05/30/regulators-fine-universal-property.html?page=all)

[Ron1Z]

Your paying for Hurricane Sandy.

[CFrance]

I went to "Great Florida Insurance" in Leesburg and spoke to a Brad.

I was quoted a first time price of $900, from "The Villages Insurance Company", in SS. I then talk to Brad, and he got the same policy, for $670 thru American Integrity Insurance Company Of Florida. Saved $230!!!

1326 W. North Blvd #1
Leesburg, Florida
352.365.1222

He also insured my golf cart, as it needs to be kept separate, from the homeowners policy.

The Villages Insurance Company, gave me a great rate for auto insurance, so as always, one needs to shop for acceptable rates, that comare apples to apples.

Good luck, in finding a great rate.

2B, did that include sinkhole coverage? Sounds like a good deal. Is it a AAA company?

[JourneyOfLife]

Probably several reasons for the increases.

Some might be:



Their Claims Experience (more claims than the actuaries modeled in the products)
Their profitability
New Weather Pattern Studies (increased risk)
Bonds! Insurance Companies hold huge amounts of high grade bonds. Yields have been low for several years. As rates rise their current holdings will be worth less (lose value... mark to market)
Perhaps the sinkhole risk

[GatorFan]

Apple for apples your coverage premium with American Integrity has to be the same. If you were given a lower premium they did not include some coverages or applied credits you may not be eligible for and the company will charge you for after underwriting your policy.

Also there are a couple companies that their first name is Universal. Universal of North America is an A rated AM Best company. There is another company called Universal Property & Casualty. They are not the same.

[Cedwards38]

Never fall in love with your homeowners or auto insurance policies. Always be shopping and always be ready to switch.

[TNLAKEPANDA]

Get a quote from the Villages Insurance Agency. They represent many different companies. I am paying $536 for $275K now that is cheap. State Farm is one of the most expensive and USAA is up there also. Florida is always going to be a tough market because of losses companies take when there are hurricane's. Most carriers are splitting off their Florida book of business so they don't go bankrupt due to a major loss season.

[scottiee]

I live in Miami I pay about 6000 a year. [2800 square feet] What I did to get it so low and I did mean LOW was to meet with my insurance person she had some great ideas to get it down. There are no other companys here.

[GatorFan]

There is a downside to shopping every year. If you have a claim and you have a huge premium increase you may not be eligible for another policy with a new company. Also a company that offers you a much lower premium may not be collecting enough premium to actually pay their claims, purchase adequate reinsurance after a catastrophic loss. The old saying that if it sounds to good to be true it probably isn't applies. I do agree that having a local agent that you can actually walk into their office and talk about your polices is worth paying a few dollars. After all we buy insurance to protect our investments. Having an agent who recognizes that and understands coverage's is priceless.

[billethkid]

Never fall in love with your homeowners or auto insurance policies. Always be shopping and always be ready to switch.

That has become a way of life since here in FL for the past 10 years.
My prime criteria in seeking coverage is a local agent, name with a face. Too mnay companies, like State Farm have grown too big and have lost the customer is king attitude.....a disease that is quite prevalent here in TV due to the sheer volume tha is brought to many businesses by TV expansion.

Another point to make is depending who one insures with and who their re-insurers are affect their rates. If one is with a high claim rate re-insurer, increases are a way of life....with no additional service or coverages....and in some cases increases with select coverage reduction or elimination.

The State Farm comment that had me laughing in their face here locally was we can get our premium to be more like what your used to having, all we need to do is reduce the coverages!!! No Thanx State Farm.

[Halibut]

We have our home and 4 vehicles in Alabama insured with USAA and just got our annual "rebate" check. This year it was $397! This is the largest one I've seen in quite a few years. They send one out every year based on how the company is doing financially. They call it a dividend or premium rebate. Does anyone in FL get these?

Ours was $83 this year, for one vehicle.

I've always trusted USAA for auto and property insurance because I believe they will absolutely do their best for me in case of an accident or loss, as they always have in the past. Basically, I'm very loyal to USAA and have been willing to pay slightly higher premiums over the decades for that confidence. But now you got me thinking! Maybe I should shop around. It's not like my wife or I have had a claim of any sort in the last 15 years, and we drive even less now.

[rayschic]

I used Challenge My Rate. Takes one minute to get a quote from all the major car insurance companies. I also used them for my home owners insurance.

Challenge My Rate (http://www.challengemyrate.com/)

[bimmertl]

Great rates don't mean great service, for that matter neither do local agents with a face. Claims are handled by the insurance company adjusters, not agents.

For all of you that have ended up with the largest private homeowners carrier in the state, good luck! No doubt plenty of friendly agents have placed a lot of people with these clowns. The company did agree and pay the fine.

Largest private insurer in Florida fined $1.3 million for long list of violations | Tampa Bay Times (http://www.tampabay.com/news/business/banking/largest-private-insurer-in-florida-fined-13-million-for-long-list-of/2123863)

[billethkid]

Great rates don't mean great service, for that matter neither do local agents with a face. Claims are handled by the insurance company adjusters, not agents.

For all of you that have ended up with the largest private homeowners carrier in the state, good luck! No doubt plenty of friendly agents have placed a lot of people with these clowns. The company did agree and pay the fine.

Largest private insurer in Florida fined $1.3 million for long list of violations | Tampa Bay Times (http://www.tampabay.com/news/business/banking/largest-private-insurer-in-florida-fined-13-million-for-long-list-of/2123863)

A little do diligence works wonders!

[GatorFan]

[QUOTE=bimmertl;818368]Great rates don't mean great service, for that matter neither do local agents with a face. Claims are handled by the insurance company adjusters, not agents.

For all of you that have ended up with the largest private homeowners carrier in the state, good luck! No doubt plenty of friendly agents have placed a lot of people with these clowns. The company did agree and pay the fine.

Largest private insurer in Florida fined $1.3 million for long list of violations | Tampa Bay Times (http://www.tampabay.com/news/business/banking/largest-private-insurer-in-florida-fined-13-million-for-long-list-of/2123863)[/QUOT

Do not confuse them with a Universal of North America. Two different companies

[Villages Kahuna]

I just got my homeowner renewal for January and nearly fell over, a 26% premium increase. I have USAA and have been member for 35 years. Called them and they are saying due to across board rate increases. Reviewed my coverages with them and nothing exceptional. 26% increase is crazy.

Anyone else having like rate increases? Recommend other providers?

You're lucky to even have USAA homeowner's insurance here. You must have had it for quite some time.

USAA hasn't written a new policy in Florida for several years. For our particular area the potential for hurricanes and sinkholes has lead to the USAA decision to control risk by simply not creating exposure by writing new policies. The result seems to be that the limited number of insureds they have here must carry the brunt of any losses the experience here.

[mixsonci]

You're lucky to even have USAA homeowner's insurance here. You must have had it for quite some time.

USAA hasn't written a new policy in Florida for several years. For our particular area the potential for hurricanes and sinkholes has lead to the USAA decision to control risk by simply not creating exposure by writing new policies. The result seems to be that the limited number of insureds they have here must carry the brunt of any losses the experience here.

I just got a homeowners policy with USAA in September for Florida (TV) with sinkhole protection.

[kaznerm]

I just got a homeowners policy with USAA in September for Florida (TV) with sinkhole protection.
I just requested a quote from USAA about two weeks ago before all the sinkhole scares. They referred me to an agency in South Florida that writes all their policies. That agency quoted us a fair policy but it was with Tower Hill Insurance that seems to be a mediocre company based on reviews.

Who quoted your USAA policy?

[graciegirl]

That is another factor in rate increase.

[jflynn1]

You mean an A or better rating from AM Best, and the company should be admitted in the state of Flroida. A.M. Best Company (http://www.ambest.com)

[samhass]

Just be aware that if you have sinkhole coverage now and change your homeowners insurance, you may not be able to get sinkhole coverage with the new company.

I just found that out this AM. I called to upgrade our insurance because we are adding some space to the house. Then I thought I would shop the policy since we have been with TV insurance agency for seven years. WRONG. Allstate also told me this AM that they have not offered sinkhole insurance for three years AND advised me to stay where I am if I have sinkhole insurance already.

[yabbadu]

I quote out my policies every year before renewal and it always works to my advantage!

[GatorFan]

Most property insurance companies writing in Florida are not National. They are Florida only or write in 2-3 states. They are rated by Demotech.

If you currently have sinkhole coverage (even with 10% DED, any good agent will advise you to keep your policy instead of changing to a company that is not offering on new business) I tip my hat to the Allstate agent who was honest with you.

[twinklesweep]

Never fall in love with your homeowners or auto insurance policies. Always be shopping and always be ready to switch.

Just be aware that if you have sinkhole coverage now and change your homeowners insurance, you may not be able to get sinkhole coverage with the new company.

I just found that out this AM. I called to upgrade our insurance because we are adding some space to the house. Then I thought I would shop the policy since we have been with TV insurance agency for seven years. WRONG. Allstate also told me this AM that they have not offered sinkhole insurance for three years AND advised me to stay where I am if I have sinkhole insurance already.

I feel painted into a corner with my homeowners' insurance through AAA South. I've had the same policy for about five years and cannot even consider changing? Why? Because I still have the original sinkhole coverage with a $500 deductible! Once the insurance companies get approval to end grandfathering, as I have no doubt they will, then I'm sure that'll change. Meantime, there is no way I can shop around....

[GatorFan]

There is no such thing as Grandfathering.

[perrjojo]

State Farm is once again offering insurance in Florida. It includes sink hole coverage,,,not just catastrophic ground collapse. The premiums are a lot more than Ark Royal but it is a larger, well know company.

[Villages Kahuna]

I just got my homeowner renewal for January and nearly fell over, a 26% premium increase. I have USAA and have been member for 35 years. Called them and they are saying due to across board rate increases. Reviewed my coverages with them and nothing exceptional. 26% increase is crazy.

Anyone else having like rate increases? Recommend other providers?You must be a longtime Villages resident because USAA hasn't written any homeowners policies in Florida for at least eight years. I too have been a longtime USAA customer for both auto and homeowner's insurance. When I oved to The Villages, I was disappointed when I found that they would not write a policy. They told me at the time that they would honor those policies already in force, but would not write any new policies. At that time, there was no explanation.

Several years ago, I took the time to work my way thru the USAA heirarchy to get to the bottom of their decision. What it boils down to is that they place The Villages, and all of Florida for that matter, in an "unacceptable high risk" category. Two risks are at the heart of it--hurricanes and sink holes. Their underwriting department found it impossible to choose the parts of Florida where those risks might be manageable, so they have decided to simply not write any more insurance in the state. There are also some issues with regard to the insurance regulations in Florida which also underly their decision, but I'm less familiar with those. USAA is not the only major homeowner's insurance company that has withdrawn from the Florida market though.

I guess we can now see that their decision based on sinkhole risk might have been a wise one. And I'm not at all surprised that they are dramatically increasing their premiums, both to cover their costs as well as drive as many of their policyholders as possible to other companies.

It's a tough world out there and USAA is an extremely well-run company.

[Villages Kahuna]

I'm now remembering that I discovered another issue that lead to USAA not writing any new insurance policies in Florida. It has to do with the building code in Florida, particularly as regards construction standards for high winds and rain. Almost without exception, Florida uses the national building code as the basis for it's local codes.

USAA has decided that it requires a different code, designed for and most common in Texas, where USAA is headquartered. Florida has refused to embrace the Texas code, believing that the national code provides superior constructional integrity and protection against wind and rain. USAA refuses to accept that and that is yet another reason why they won't write insurance in Florida any more.

[twinklesweep]

I feel painted into a corner with my homeowners' insurance through AAA South. I've had the same policy for about five years and cannot even consider changing? Why? Because I still have the original sinkhole coverage with a $500 deductible! Once the insurance companies get approval to end grandfathering, as I have no doubt they will, then I'm sure that'll change. Meantime, there is no way I can shop around....

There is no such thing as Grandfathering.

I spoke to my AAA agent late yesterday, who used the specific term "grandfathering" in reference to my homeowner's coverage. The renewal premium (homeowner's portion) will be $864.39, which includes a $500 deductible for sinkholes and a 2% deductible for hurricanes. I have a combined policy that includes vehicle coverage, and mine is a one-year renewal. My combined premium is actually down (believable?) by a few dollars, no doubt because of taking a defensive driving course. So I dodged the bullet for another year, thanks to grandfathering--but there is still no way I can shop around for new insurance....

[VillagesFlorida]

I just got my homeowner renewal for January and nearly fell over, a 26% premium increase. I have USAA and have been member for 35 years. Called them and they are saying due to across board rate increases. Reviewed my coverages with them and nothing exceptional. 26% increase is crazy.

Anyone else having like rate increases? Recommend other providers?

We just got our new annual premium notice for our homeowner's and auto insurance. The homeowner's portion went up 51%! We had a $5000 claim last summer for stolen jewelry while we were on vacation, but this seems ridiculous. This was our first ever claim on any homeowner's insurance in 55 years. We do not have sinkhole coverage. Coverages in the policy increased but nowhere near enough to explain this jump in premium. We are with AAA Insurance and will be contacting them for an explanation.

[helen lovely]

They did the same to us. Who did you replace them with? Thanks

[VillagesFlorida]

They did the same to us. Who did you replace them with? Thanks

We haven't replaced our insurance with any one else yet. We plan to talk to AAA to get an explanation as to why such a huge increase. I do not expect them to change a thing, so no doubt we will be shopping around. $1100 seems very, very high for no sinkhole coverage on a 2 BR courtyard villa.

[Steve & Deanna]

We shop our insurance every other year. Tried to tell my parents that years and years and years ago. They took whatever they're agent handed them, complained about it but never did anything. Best to shop.

[perrjojo]

We shop our insurance every other year. Tried to tell my parents that years and years and years ago. They took whatever they're agent handed them, complained about it but never did anything. Best to shop.

Who knows? I may be wrong....It has happened before. ...My feeling is that you get what you pay for. Shopping around May get you a lower premium but it has been my experience that having a history with a company and particularly an agent is very important when you have a claim.

[Villages Kahuna]

I just requested a quote from USAA about two weeks ago before all the sinkhole scares. They referred me to an agency in South Florida that writes all their policies. That agency quoted us a fair policy but it was with Tower Hill Insurance that seems to be a mediocre company based on reviews.

Who quoted your USAA policy?USAA got so many complaints from long-time policy holders who couldn't get USAA homeowner's insurance when they moved to Florida, that they set up a referral service with an agent or agents who would sell policies offered by another insurance company. The policies are not with USAA, but are "arranged" by USAA.

Be careful.

[Ohiogirl]

if you are a USAA member, that if you go thru USAA to the "referred" company, that it will count toward your annual "kickback." It's not really a kickback, but whatever they call it, that is the effect. I think it's based on claims for the year, and CATs (hurricanes, tornadoes, etc).

Last time I checked with USAA, they said they could write it thru ASI, and when I asked if there is any advantage to going thru USAA, they said no, and specifically said it doesn't count toward the annual kickback.

[784caroline]

USAA got so many complaints from long-time policy holders who couldn't get USAA homeowner's insurance when they moved to Florida, that they set up a referral service with an agent or agents who would sell policies offered by another insurance company. The policies are not with USAA, but are "arranged" by USAA.

Be careful.

You are correct BUT I believe USAA will service any claims under those policies.....and if USAA is making the referal I would have some faith in the financial rating of that company to handle any BIG claim periods that may come by. Also if you are looking for something like an Umbrella policy USAA requires all policies to be under their purview. What that means is not necessarily written by USAA but written by an affliated agency which these companies are.

Believe me as a USAA member for 40+ years I have USAA homeowners insurance directly from USAA. Every year for the past 3 years I have complained to USAA (IN Writing) about the size of the rate increases and let them know that even though they are limiting their risk pool in Florida by not issuing new homeowner policies that they are placing a bigger burden on the older Veterans here in the state of FLorida.

I also tried to compare homeowner insurance rates between USAA and its affliated companies (ie ASI). USAA would not give me any information and if I left USAA I would be with ASI but not the USAA desk of ASI. During this conversation, I never heard how can we help you sir!!

USAA is walking a very thin line in FLorida when it comes to homeowners insuarnce.