Progressive Insurance Renewal Quote - TOTAL SHOCKER!!
 

Have just received the renewal notice for Home Owners Ins. from Progressive.
Have had them since 2020. Never had one claim at all.
2020 Premium- $693.; 2021-$755.; 2022- $916.; 2023 Renewal Quote $1,883. WOW!!
105% Increase, for NO changes in coverage, and NO claims. Yes, TOTAL SHOCKER!!
No doubt hurricanes have affected this!
Is this what has been happening to Home Owners Ins. in T.V. and or all FL??
What have others experienced for rate changes??
Thanks for your replies.

I would like to cancel and go "self insured"

After that Special Session, Governor DeSantis signed SB 2-D which enacted pro-consumer measures to help alleviate rising insurance costs, increased insurance claim transparency, and cracked down on frivolous lawsuits which drive up costs for all Floridians.

In other words it gives the Insurance Companies a license to steal

OP, mine is about like yours, not good.

How old is the house?

Add'l Info.
 

House is in Fernandina, built 2012, vinyl siding, 1488 s.f.

Join the club !

Just wait until they tally up the damage in California. I fear we ain't seen NOTHING yet.

I would suck it up and pay it. I have been with AAA for the past 18 yrs. Have new roof, no claims and my homeowners cost this year for 2023 is $3,376. I will pay yours if you pay mine:shocked:

Should be 1500 or less. Call villages insurance and State Farm for quotes.

The renewal quote says they don’t want your business.

The dramatic increase in home values also contributes to the increase.

My courtyard villa went from $2100 to $3100 with progressive!

I have Progressive. My premium is going from $2050 to $2800. I have a 1920 sq. Foot Camillia. I also have Non Catastrophic Sink Hole coverage which has always added $400+ to the premium, and a 10% deductible for that coverage. I researched many companies to see if I could get the Non Catastrophic in the coverage and only one, State Farm would do it. With the bundle State Farm was lower for the homeowners, higher for the auto and umbrella, and lower for the golf cart. All coverage considered it came out premium wise about the same as Progressive except for one big deductible. The Non Catastrophic is only 1% with State Farm. With a home valued at $400,000 that’s a $36,000 difference in the deductible. Probably will have to review each year but for now I am now with State Farm.

One disadvantage of owning an older home.

New homes can have close to $1k in discounts due to meeting there latest wind and hurricane standards.

Wow - just purchased a brand new home - went through the Villages, who signed me up with Tower Hill - $950 for the year.

Also with Progressive. Designer Aspen model...

2021 = $1050
2022 = $1200
2023 = $1360

(prices are ballpark and not exactly to the penny, as I don't have my bills in hand)

Ours is going from $900 to $1200 in March.

Far as insurance, they go by a risk table. Not every company uses the same table. So it is wise to shop around. Since 2020, that does not matter at all. Actually they often offer better deals to new customers, to attract new business. Not just shopping other companies, might be wise to call your present company ask if it is an error? Ask why? You can lessen insurance cost by raising the deductible-you self insure smaller claims up to the deductible.

That is always an option. If, you have a mortgage the mortgage holder probably will not allow it. The home owners policy you pay based on the home value. You do not insure the land which will still be there if, the home is destroyed. Tied in is also liability for people suing you. Shockingly common these days.

My husband called village insurance after our car insurance went way up (no claims, no tickets). They got us a new policy for 1/2 the price.

✨Villages Roofing Investment✨
 

As a resident here in The Villages, a FL licensed independent adjuster (Not active in this regard just hold licenses), and a roofer (Yes, there are a handful of quality platinum original roofers that don’t solicit and respect community guidelines), the issue was mentioned above - Fraud claims across the state (FL) gave insurance carriers the power back. Billions in 3rd degree fraud loss claims filed (because neighbors told neighbors) that adjusters and claims coordinators should have never approved …Caught up to all of us. I have three properties here and it’s not easy to absorb. I can say though: I (We) saw this coming like a train coming off the tracks from afar. All the people signing an insurance contract with door knockers should have been better educated.

If there are those out there that need a roof and that are hesitant about who to turn to for free advice without any pressure: Contact Skylight Roofing Villages - Trusted, Quality Reputation, Fully Insured, No Subcontractors, and over 5000 homes replaced to Sumter, Marion, Lake County Code.

352-552-4766 or 407-790/6755

The Villages - Skylight Roofing Inc.

Skylight Roofing - Serving The Villages for over 15 Years

That’s part of the problem. Insurance companies are not wanting to insure homes older than 2015, and they are rationing how many subscribers they have per area. Once they reach their limit, and some have for this area, they won’t insure more people.

ACTUALLY THATS A GREAT PRICE…New Roofs make for No Free Lunches

Insurance rates
 

I would shop around. Ours went up from $,097 to $1,359 or thereabouts.

Broker - AAA on 441. Insurer - Universal.

Good luck.

Roofs
 

Someone has to pay for your neighbors and friends free new roofs. It’s always the honest people who get stuck with the bill.

Insurance
 

Try Travelers with AMAC membership. Have a 1950 sq ft house. $1000.

increased insurance costs
 

I would immediately go out to at least 3 other carriers and ask them for a quote. I do this for each renewal that has such a huge increase.

My insurance went from $1023 to $2120. I checked with The Villages insurance and got quotes of $3800 and $5300.

And I thought those that got FREE ROOFS was a good deal - unfortunately it appears we all are paying for them!!

I have the villages ins agency. I have 1150;sq ft vinyl siding with a 3 year old roof and no claims. Mine went from 866 to 966 dollars a year. Have 20 per cent sink hole and 10 per cent hurricane coverage.

Rate increases are not arbitrary. An insurance company must apply for a rate increase with the state and show proof why they must raise rates. The state approved the increase.

I can provide an Allstate quote if you’re interested. We are insuring homes built in 2011 or newer. If interested call 954-437-9220 ext. 308 or email hrichardson4@allstate.com.

Home Owners Ins.
 

I live in the Village of Hadley. 1700s.f. concrete block. Built in 2008. My HOI was with Carbrillo Casualty. In 2021 it was 1300, in 2022 it was 1700. This year is was going to be 2700. I cancelled. went with State Far, 2100, w/ better coverage. Bundled my auto and golf cart with it for an extra $98/month. Which is cheaper than travelers (car) & Formost (golf cart) combined. Shop around. I did. Found AAA to be higher and Kin to be higher.

I moved from home to another new home. Had progressive at a reasonable rate for 1st home. Progressive wouldn't even think about insuring my new home. Have had Progressive on my last 2 homes in Florida with no claims. They don't care. And this is happening in ALL of Florida

Same here with another company…..many people getting dropped….a huge problem in Florida.

Happened to us too.
 

Whe had Travelers Ins for years when we lived north.
Once we moved to Florida we lasted 6months and then same type of shocker. It told me they didn't want to insure in Florida. Been with Allstate since then and very happy with it. Sink hole coverage is excellent.

These statements above don't add up. I see no license for insurance companies to steal in here. What am I missing? He opened up competition. Lovin our Govenor DeSantis! OP get a another quote.

Senate Bill 2D, signed by Governor DeSantis today, enacts pro-consumer measures to help alleviate rising insurance costs, increases insurance claim transparency, and cracks down on frivolous lawsuits which drive up costs for all Floridians. Specific provisions to stabilize the market include:

$2 billion in reinsurance relief through the Reinsurance to Assist Policy (RAP) program to benefit policyholders over the next two years.
Requires insurance companies to file a supplemental rate filing once enrolled in the program to provide relief to policyholders.
$150 million for the My Safe Florida Home Program to provide grants to Florida homeowners for hurricane retrofitting, making homes safer and more resistant to hurricane damage, which can result in premium discounts for those who participate in the program.
Prohibiting insurance companies from denying coverage solely based on the age of a roof if the roof is less than 15 years old or if the roof is determined to have at least 5 years of useful life remaining.
Requiring insurance companies to provide policyholders with a reasonable explanation if they deny or partially deny a claim and provides consumers with greater access to information during the claim adjustment process.
Creating a new standard for application of attorney fee multipliers which have been liberally applied, resulting in increased costs to consumers.
Limiting the assignment of attorney’s fees in property insurance cases, disincentivizing frivolous claims.

Size of home? Concrete or siding? Age of roof? All this makes a difference so hard to compare premiums. Not sure the above posts are relevant to your own situation.

And you
 

And you have supporting documentation for the outrageous post. Your $200000 house is now worth $300000 and want to pay the same price to insure it. They are a business and the replacement cost have sky rocketed. Try looking at the real source of this inflation and cost of living source. You don't have to look further than that other "House".

Insurance companies always have the right to not insure in FL which will happen if they have losses due to natural disasters or a onslaught of frivolous claims.

I am no expert but the legislation seems to be a good balance of both the interests of the insured and insurers.

Instead of ad hominem attacks based on politics, maybe you could provide some more specifics to justify your disparaging comment.

Insurance Rates
 

The exact same thing happened to me. 1st year $950, 2nd $1300, Third $1700 and The 4th they wanted 2700. I changed companies and got the exact same coverage for $1200. It pays to shop. Same for car insurance also. No more loyalties.