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2004 Camilia in BonnyBrook owned by us since it was built ... no insurance claims, no "free roof". Had ASI insurance until 2020 when Progressive Insurance took over.
ASI premiums started at $591 (new house) and increased over the years to $1445 in 2020. Then Progressive took over: 2021 $1814 2022 $2186 2023 $6630 (note that is three times the previous year) I went ballistic of course and checked with the agency to be sure it wasn't some kind of error or scam, only to be "reassured" that the amount was correct. Obviously, I'm going to shop around but my blood pressure is still up, especially after reading posts in this string that show most increases to be no more than 10 or 15 percent. The premium is due March 5th. |
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Any claim you turn in will raise everyone’s rates!
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AAA Insurance DOUBLED
Premier Naches home. Last year insurance with AAA cost for home with 2 cars $6,220. Just received bill for 2023 - $12,339. Had AAA for over 10 years, never a claim of any sort. :confused:
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We are not being "penalized" we are being asked to pay an amount that covers the cost of the claims in previous years and the risk that there will be more of the same claims in future years. If we make a legitimate claim in the future we want the company to have enough cash to pay our claim; the rising rates are what the company has determined it needs to be sure it can do that. |
Not for long..
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What is a amac membership?
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Wow, this is a first !
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Not all in The Villages have deep pockets, many are living off social security in the older sections .The insane raise in amenity fee's( mine went from $145-179 ) and insurance rates many will be forced to move. It is not right that The Villages promised me no more then 5% rate increase when I bought , then changed their minds. And insurance companies are doing very well , just look at what their earnings are so it is not a matter of need...both are just greed and because they can.
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Homeowners Insurance
I wish that I could say that you got a very high quote. But ours is about the same, and I did look diligently for a lower rate.
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Research the companies. Many companies have gone bankrupt or pulled out of Florida completely. You may pay a little more but make sure the company is financially stable or you may go through searching for a company every year. New companies in Florida come in with lower premiums because they have no loss ratio in Florida. Within the year they are raising their premiums due to lots of claims.
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Consumer Reports ranks insurance companies
Based on approximate 60,000 insurance customers, Consumer Reports ranks USAA #1. The companies ranked #2 and #3 do not write insurance in Florida. The typical insurance companies most people use (including me) in The Villages rank in the middle to mid lower in the list of 24 companies
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Us too$2669.00 WOW. Shopping today
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Yea & nothing nobody can do about it. But I’m sure lots of people will just drop their home Ins. To many claims turned in & passed on to everyone else to pay the ones that turned in claims!
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New Roof?
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94% Increase after first year of coverage
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YES - Just received my first renewal notice from Progressive - Up from $724 to $1399 - no changes to coverage levels or any claims. Outrageous they I / We have to pay premiums for the rebuilding of waterfront homes on FL coasts that we do not own or enjoy. Those wealthy homeowners should be covering their premiums on their own. |
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The solution here is easy. We all have to go back to work. Anybody need a weed puller? |
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Ins. policies
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I believe a lot had to do with people getting so called "FREE" new roofs. |
I'm sure some of you remember this when 16 years ago a thunderstorm spawned three tornadoes that swept through three villages. Even though The Villages got hit with 136-165 mph winds, no villager died. 20 people did die but they were in the surrounding trailer parks. Gives one pause when considering to self-insure.
The damage breakdown is here: https://www.depts.ttu.edu/nwi/Pubs/R...AW-Florida.pdf |
We got our homeowners insurance renewal today. We own a 2 and 2 in TV, built in 09 with the original roof. It went up 21%. About what they said to expect. Yearly rate is now $1545. Just thjought I'd post since there seems to be a lot of discussion about this.
Btw, our friends snowbird in Bonita Springs and have a home very similar to ours in a plus 55 community 7 miles from the beach. He told me theirs went UP $2000. I didn't ask what he's paying, but if it went up that much it must be a lot. Plus, they can't even buy flood insurance. 5 years ago they got 2 feet of water in their house from Irma. But they lucked out this time and the water didn't quite get to them. |
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Self insure
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Re: self insure...
To self insure, it means you have sufficient funds to pay for the repair of any damage. Fine if you have no mortgage. If you have a mortgage, your bank will not likely let you self insure. The home belongs to the bank until you've paid it off. They want their asset to be protected. On the other hand if you have the resources, they'd want you to pay off that mortgage, unless you can find a way to guarantee that you can pay for repairs and convince the bank. Same goes for any asset you've financed. Don't forget about liability, if somehow your asset causes damage to another person or someone else's assets. |
I received my renewal from Progressive for the up coming year I knew it would be going up but a 80% increase whoa for a 7 yr old patio villa. I also read thru the coverage if I was understanding it correctly
the replacement value for just the home was listed about a $100,000 less than the average sale price for homes in my area. |
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My agent in Virginia found insurance for my home here at a great price and coverage.
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I have 2 statements to make, we have had Progressive for 6 years this May and our premiums went up a little less than $500 over that 6 year period. I keep a higher deductible, $2,500 to keep the rates a little lower and our home is block with a true hip roof which does in fact help with lower premiums. That being said. Over the 55 years that I have owned homes, I doubt that I have had $1,000 in claims however the year before we moved down here I had 3 huge claims, one for a 30' long concrete porch holding up a roof that collapsed, a wind storm blue shingles off of the roof and the rain came right through it, and a sump pump malfunctioned while we were down here unloading furniture from our moving truck. All in all they totaled just under $80,000 in payments the insurance company made to the contractors on 3 separate claims and it did not affect any of our future rates. Moral of the story is if our rates go up in May I'm not going to complain too much.
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Who is your carrier?
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Progressive Decreased Rates
We have had zero problems with Progressive. Are you in a newly designated flood plain? We are in the Villages south of 44 though. A 2200 square foot Gardenia is $930 annually.
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Heritage and State Farm were the most reasonable of many quotes I received recently
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