[OrangeBlossomBaby]

Originally Posted by Worldseries27

real estate agent showed us a similar home

And that house will last hundreds of years longer than any house in Florida built after the 1800s.

Whale oil and all. Even through hurricanes, floods, tornadoes.

[jimkerr]

I would have thought 300-400 not 38!

[tophcfa]

Originally Posted by Worldseries27

you ain't prying gma's fingers off her gc's until santa has left the building

Unfortunately, you’re correct, but that won’t prevent a trip south for a month this fall before the holidays.

[tophcfa]

Originally Posted by seecapecod

Same- Birch trees turning yellow in Belchertown!

Will be playing golf at Cold Springs in Belchertown next week.

[Ronnieslager]

We did the same, 50 year shingles, in the state of Minnesota, $400.00 savings with State Farm Insurance the first year, only to have our insurance go up the following year by almost $400.00 - NO SAVINGS in my eyes and insurance company feeling great knowing they won’t ever have to replace our roof. Just saying………

[CoachKandSportsguy]

Originally Posted by Worldseries27

real estate agent showed us a similar home

LOL! that was my in-laws house, a 250 y/o farm house with a barn, filled by a hoarder who was a WW2 supply manager, keeping everything in case of a breakdown, including 50 yr old spark plugs, etc. . two overflowing dumpsters total. .

Google had $350K, appraisal and final sale, $150K due to original conditions. .

[goneil2024]

Interesting OP.

Some factors to consider:

1. The 3% savings this year, and insurable for most insurance companies.
2. Assuming a 20-yr life for the roof and assuming an average 2.5% annual increase would total $1,000 (cumulative)
3. Few if any commercial insurers list “altruism” as one of their goals, rather the focus is always on net profit for the stockholders, owners, members, or policy holders.
4. In theory, insurance is designed for insurers to indemnify insureds for an agreed, measurable, certain premium, for a future fortuitous event. The insured agrees to pay a sum certain (premium) in the event of that future occurrence, and the cost is spread among the “many who will bare the costs of the few”.

However, given the last few years of premium increases for most homeowners it’s hard to believe that the cost vs. exposure makes any sense. Also, in the last few years there are a number of insurers that are posting record profits. However a good portion of the overall profit for some in recent years is due to investment income (strong stock/bond market) not necessarily underwriting results. Its more than complicated, and influenced by a lot of variables.

The FL Dept of Insurance provides a cost comparison tool “CHOICES” which offers insight on what the rates are by typical insurers by area. As most can appreciate a lot of variables go into determining insurance premiums, such as location, construction, occupancy, building costs, values at risk (exposure), loss history, (for physical property) then there is liability that considers other factors, such as medical costs, loss development, inflation etc.

CHOICES Rate Comparison Search

[thevillages2013]

Originally Posted by CoachKandSportsguy

21 year old roof with 20 year shingles replaced with 50 year shingles

total new roof cost, $9,000

home insurance's savings $38, on a total insurance cost of $1,300

these numbers don't seem doesn't appear logical. . but all presented are correct.

good luck to us!

Do you live in a hut ? I’m calling BS on this one. With the numbers you have presented there is absolutely no way.

[coleprice]

There are:
1. No hurricanes in Massachusetts; and
2. Roofers don't scam insurance companies to make them pay for a new roof at no cost to the home owner in Massachusetts like roofers do in Florida.