Talk of The Villages Florida
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Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   Headline: Homeowners insurance crisis hits villages (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/headline-homeowners-insurance-crisis-hits-villages-334717/)

OhioBuckeye 08-28-2022 09:17 AM
Ohiobuckeye
 
I’m pretty sure Ins. Co. Base they’re increase’s on how many claims that are turned in then they raise your rates to help pay for all
of those people that turn in claims. That’s how Ins. Co. stay in business. Ask any person that’s been in the Ins. business! If you don’t believe it that’s OK, I’m not hear to argue.

BobnPeg 09-07-2022 09:07 AM
Home insurance 28% hike
 
We moved toTV last October,our policy was $1576.00 we just received the bill for next year, $2020.00 up $444.00 (28%).The house was built 2006 still has original roof.
From what I've been reading rate hikes are happening to many homeowners.My question is does this sound like the norm or high? I would like some thoughts if I should just renew and see what happens next year or start looking for a new company.
Would appreciate any input from anyone who has been this. Thanks

Flyers999 09-08-2022 01:27 PM
Quote:
Originally Posted by BobnPeg (Post 2134016)
We moved toTV last October,our policy was $1576.00 we just received the bill for next year, $2020.00 up $444.00 (28%).The house was built 2006 still has original roof.
From what I've been reading rate hikes are happening to many homeowners. My question is does this sound like the norm or high? I would like some thoughts if I should just renew and see what happens next year or start looking for a new company.
Would appreciate any input from anyone who has been this. Thanks
By all means look for a new company. But if you have an old roof(which you do) or an old house or submitted a claim in the last XXX years, you probably won't find one.

I have US Coastal Property and Casualty. in the last three years it has gone from $1095 to $1692 to $2242 (this year). I do have the sinkhole insurance.

mrf0151 09-08-2022 01:33 PM
Quote:
Originally Posted by BobnPeg (Post 2134016)
We moved toTV last October,our policy was $1576.00 we just received the bill for next year, $2020.00 up $444.00 (28%).The house was built 2006 still has original roof.
From what I've been reading rate hikes are happening to many homeowners.My question is does this sound like the norm or high? I would like some thoughts if I should just renew and see what happens next year or start looking for a new company.
Would appreciate any input from anyone who has been this. Thanks
Our Travelers HO ins. just went up 50% for the coming annual premium cycle. Called around and still cheaper than most for max coverage. Also just found out that Travelers is not writing any NEW policies at this time in Florida.

mrf0151 09-08-2022 01:36 PM
Quote:
Originally Posted by retiredguy123 (Post 2130370)
There is no common sense logic for how insurance companies set their rates. I think they use complex computer algorithms to analyze customers and maximize profit. Last year, I switched from Allstate to State Farm auto insurance and saved more than 50 percent. The State Farm agent said that the reason they gave me such a low rate was because I had been an Allstate customer for 27 years. I guess Allstate thought that I would just accept a 32 percent rate increase because I was a long time customer. Go figure.
Interesting and I called last week to State Farm and their HO policy, apples to apples was 15% higher than our current Travelers.

Kennybmd 10-19-2022 04:20 PM
I switched to KIN one year ago. Saved me $3000 at the time, but now it jumped from $1000 to $4000 in one year. Looking for reccomendation. State farm who I used for 40 years without a claim will no longer insure my 1999 home in Santo Domingo.

Rainger99 10-19-2022 05:14 PM
Quote:
Originally Posted by mrf0151 (Post 2134341)
Interesting and I called last week to State Farm and their HO policy, apples to apples was 15% higher than our current Travelers.
According to the internet, Travelers does not insure homes in Florida.

Travelers Home Insurance Review (2022)

Why Is Homeowners Insurance In Florida Such A Disaster? – Forbes Advisor

GatorFan 10-19-2022 09:37 PM
Big difference between catastrophic ground collapse
 
Quote:
Originally Posted by jebartle (Post 2130092)
Which sinkhole insurance???, Kin and all fla. Insurance covers general sinkhole coverage.
Which is included in property policies and sinkhole coverage which you have to purchase


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