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  #1  
Old 06-09-2021, 08:11 AM
lmack lmack is offline
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Anybody else seeing a huge increase this year? I've had no claims and the only explanation I get for my 39% increase is FL storms. I've used Villages Insurance for years and always been happy. Have shopped it a few times and they are always competitive. Just wondering if others are seeing this also and to this degree.
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  #2  
Old 06-09-2021, 08:16 AM
inda50 inda50 is offline
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Yes , same here I'm thinking of skipping on home insurance.
  #3  
Old 06-09-2021, 08:23 AM
retiredguy123 retiredguy123 is offline
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I have Progressive/ASI insurance with The Villages Insurance and my premium only increased by about 5 percent. The Villages Insurance is not an insurance company. They are a broker/agent for several different insurance companies. I don't think an insurance agent can give you accurate information about why your rate increased. The actual reason is only known by the insurance company, and they don't share that information with agents or customers.
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Old 06-09-2021, 10:22 AM
vintageogauge vintageogauge is offline
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I too have Progressive/ASI and our premiums went up only $8.00 for the year which was paid just last month. They sell Progressive at TV Insurance, ask them to get you a quote. If you have an older home with the original roof that might be the reason for the increase.
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Old 06-09-2021, 11:18 AM
lmack lmack is offline
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Quote:
Originally Posted by retiredguy123 View Post
I have Progressive/ASI insurance with The Villages Insurance and my premium only increased by about 5 percent. The Villages Insurance is not an insurance company. They are a broker/agent for several different insurance companies. I don't think an insurance agent can give you accurate information about why your rate increased. The actual reason is only known by the insurance company, and they don't share that information with agents or customers.
Yes, Broker Villages Insurance, I formerly was ASI but just last year they put me with Tower Hill (house 10 years old as of Feb21).
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  #6  
Old 06-09-2021, 11:45 AM
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Ben Franklin Ben Franklin is offline
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10% increase from State Farm.
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Avalon, NJ, Captiva Island, FL, TV Land.
  #7  
Old 06-09-2021, 11:56 AM
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Velvet Velvet is offline
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Quote:
Originally Posted by retiredguy123 View Post
I have Progressive/ASI insurance with The Villages Insurance and my premium only increased by about 5 percent. The Villages Insurance is not an insurance company. They are a broker/agent for several different insurance companies. I don't think an insurance agent can give you accurate information about why your rate increased. The actual reason is only known by the insurance company, and they don't share that information with agents or customers.
Yes, they gave me the same line. Later I was told the state allowed them to increase their rates. I said that is fine as long as the state also pays for it. They did not want to even tell me what the premiums were for individual items. When I insisted I found I was paying the premium for a second structure which is actually not even allowed in our deed restrictions. The upshot was I ended up paying about the same amount in premiums as before with the modifications that I only pay for what I want.
  #8  
Old 06-09-2021, 12:42 PM
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rjm1cc rjm1cc is offline
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Originally Posted by inda50 View Post
Yes , same here I'm thinking of skipping on home insurance.
Be sure to get an umbrella liability policy.
  #9  
Old 06-09-2021, 04:17 PM
lmack lmack is offline
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Be sure to get an umbrella liability policy.
Yes, thanks, we have an umbrella and intend to keep that coverage.
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  #10  
Old 06-09-2021, 04:34 PM
Laker14 Laker14 is offline
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Quote:
Originally Posted by lmack View Post
Anybody else seeing a huge increase this year? I've had no claims and the only explanation I get for my 39% increase is FL storms. I've used Villages Insurance for years and always been happy. Have shopped it a few times and they are always competitive. Just wondering if others are seeing this also and to this degree.
I'm no big fan of insurance companies, but with the rapid increase in the cost of building materials, and the aggressive tactics employed by some roofing companies to get insurance companies to pay to replace 15 year old roofs, I'm not surprised that rates have increased that much.
If we have a busy and destructive hurricane season, it will get worse.
  #11  
Old 06-10-2021, 04:49 AM
J1ceasar J1ceasar is offline
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Every few years they bump things way out of line . However , to rebuild a home is now more expensive than ever . Check your homes value on policy .
  #12  
Old 06-10-2021, 05:07 AM
Debra Freeman Debra Freeman is offline
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Florida’s property insurance market, which collected $56.6 billion in premiums during 2019, is unique and covers complex risks including devastating hurricanes and the impact of climate change. Many insurers left the state after suffering big losses from hurricanes Katrina and Wilma in 2005, leaving about 60 small and mid-sized firms underwriting property policies there today.

Although there were no major weather events last year, some insurers are still grappling with claims from Hurricane Irma in 2017, said Logan McFaddin, an American Property Casualty Insurance Association executive who specializes in Florida.

They are also facing what McFaddin described as “out of control” litigation in Florida, partly because of a law that can require insurers to pay attorneys “excessive fees” in those cases. The practice has spurred a cottage industry of contractors and lawyers who sue insurers to replace a whole roof when only a few tiles are damaged, insurers say.

Other less dramatic problems, such as leaky pipes, happen at an “abnormally high” frequency in Florida, often causing severe damage, including mold, consistently gnawing at profits, said Charles Williamson, chief executive officer of Vault, a Florida-based insurance exchange for wealthy individuals.
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Old 06-10-2021, 05:08 AM
banjobob banjobob is offline
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We had a 25% increase and I switched to Farmers with the rate we had before their increase.
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Old 06-10-2021, 05:15 AM
Girlcopper Girlcopper is offline
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Quote:
Originally Posted by lmack View Post
Anybody else seeing a huge increase this year? I've had no claims and the only explanation I get for my 39% increase is FL storms. I've used Villages Insurance for years and always been happy. Have shopped it a few times and they are always competitive. Just wondering if others are seeing this also and to this degree.
Why are you surprised? This has been in the newspapers for awhile now about rates going up with no explanation. Though you dont know the reason, you should have been prepared for it with all the press it received awhile ago
  #15  
Old 06-10-2021, 05:47 AM
lkagele lkagele is offline
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Quote:
Originally Posted by lmack View Post
Anybody else seeing a huge increase this year? I've had no claims and the only explanation I get for my 39% increase is FL storms. I've used Villages Insurance for years and always been happy. Have shopped it a few times and they are always competitive. Just wondering if others are seeing this also and to this degree.
It's probably all the roof replacements that have been going on in TV. My premium went up 43%. Switched to All State and saved a few bucks but got much better sink hole coverage.
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