Our recent renewal for our homeowners insurance almost caused a melt down. The premium was almost double from the prvious year. Same company; same home. We are in FL so no need to say anything else.
So I will be shopping insurance this week and comparing coverages. Apples to Apples and then perhaps a tweaking on coverages. I will schedule appointments to sit down with the insurance agent(s) directly and discuss options.
So do you check your rates/coverages yearly or let it ride?
~Like sands through the hourglass ~So are the days of our lives
This has become a sprng ritual. With the rnewal slips staring at you quting a highr price thn it was lst year, you gotta wnder if they rlly care abt you. I've not had a clm for more than 40 years and yet I feel I'm being gyped. But, whn all is said and dne I cnt fnd a btter prce anywhre. All the insrance companies, the banks, AAA, the travel companies--all wnt to gt in on a good thng and hme/auto insrance does seem to draw crowds. I thnk the usual allowance for the frst caused accdent is forgven is fllowed by all of thm but gosh forbid if you have a second. And if you regularly get traffic tickets, that is the stamp of approval for the insurance to go up, way, way up.
We check every 3-4 years. It usually takes that long for the premiums to get too high for us. Have found we change the auto more often than the homeowers.
We check the direct sale as well as the local agents. Where possible check for HO and auto at the same company as they often give a discount if they have both. (Our last auto co did but.... the Ho was really, really high).
Once you decide on a company you can see if increasing your deductibles is worth it.
I know Florida is a hard state for HO insurance... always has been but has gotten worse. Good luck.
Posts: 5970 | Location: North MN & Northern AR | Registered: Oct 01, 2002
Auto and homeowners with the same company so even though it's ridiculously high (no claims here either) no one else was able to beat it the last time I checked.
In Michigan we have everything (except life) with one company and the agent is a longstanding friend of 30 yrs. There are so many discounts on our policies that actually all the rates,except umbrella,are lower than last yr. Of course, my car is 5 yrs and DH 3 so they're bound to fall. Our Florida homeowners is a joke-we shop that every yr and are paying more. Our MI home is worth 3x our Florida home and is less than FL. Guess we're lucky in MI there are no hurricanes!
Posts: 2781 | Location: Michigan and sw Florida | Registered: May 16, 2007
Beau, you are in Florida. I am in Louisiana. I'm sure I don't need to remind you to pay close attention to your hurricane coverage. That's why my car insurance is with Allstate, but my homeowners remains with State Farm. I was relieved that I had not switched when Gustav happened.
Originally posted by mamaspoon: I may be wrong, but I think State Farm in the state of FL is not writing any new policies, or getting out completely from homeowners coverage.
You are correct Mamaspoon or at least there are rumblings to that effect.
~Like sands through the hourglass ~So are the days of our lives
It seems like every year at renewal time I get the call that my current carrier doesn't want to renew so the broker has to do a last minute panicked search to find a new carrier. I already gave up earthquake insurance last year because the premiums had risen so high.
My problem is that I'm in a high fire danger area and like you that are in hurricane country, the insurance companies don't want the risk of the coverage. I've never had a claim, but that doesn't seem to matter.
Being in FL too...I feel your pain Beau's Rose. We have lived here just over 2 years and have had 2 different Homeowner's policies with 2 different companies. This is the most frustrating state to get and maintain coverage that I have ever lived in!!! Good luck with your search.
I call my son - he is an independent agent and has saved me and many of my friends a lot of money. It still seems crazy to pay over $250 a month (car, home & health) for one little old lady but what can ya do? I know I'm getting the lowest rates possible.
We recently moved so I decided to shop around. It is hard though as it was a good 30-40 minute call per company. That's a big chunk of time and the prices between companies weren't all that big. Not sure if it was worth it.
After some issues with our agent not notifying us when we felt he should, we made an appointment for a review. After that, we shopped our insurance to see how competitive our current policies were. We found that we were over-insured in some areas, under-insured in others, and paying about 20% more than necessary. So, we switched.
I have never changed companies in the 30 years I've been paying for insurance. I picked a company that has a good reputation for paying letitimate claims. I keep my rate down by having a large deductible and by having home and auto insurance at the same company. Right now I drive an elderly car. I have liability and comprehensive coverage, but not collision. My home owner's insurance has a $1000 deductible.
Posts: 8530 | Location: Omaha, Nebraska, USA | Registered: Oct 13, 2002
I shop around every couple years too. We have to have earthquake insurance here (new madrid fault) and we paid 700 bucks a year. We now pay under 300. I try to keep cars,house and anything else insured under the same company.
"In the spring, at the end of the day, you should smell like dirt"
Posts: 1060 | Location: North MIssissippi zone 7 | Registered: Jul 13, 2004
I'm a "let it rider".. policies get updated and compared if we sell or buy a vehicle. I recently added a scooter to the household and in checking rates found that I'd been paying $300+ more a year than I needed to. We switched.
I'm with JoW -- we've been "State Farmers" since my parents signed up with the company in the 50s when our neighbor became an agent. From one generation to the next -- my DD is a THIRD generation State Farmer. We still have a $50 deductible (no longer available so we pay the same rate as someone with a $250 deductible).
And listening to people, you don't know what kind of insurance you have until you have a claim -- we've had a few with SF and they've all been handled well.
Been with State Farm for almost 20 years now. The rates for auto and home are both pretty low.
It depends on WHERE you live that makes a big difference. We have friends that live in an area prone to sinkholes about 18 miles from our home. Their insurance has tripled.
BTW...we price shop for EVERYTHING! If a price for anything goes up disproportionately then we're on the phone.This message has been edited. Last edited by: zone9alady,
Posts: 6841 | Location: Central Florida | Registered: Feb 12, 2005
No, we don't although it is tempting with all of the on-line, TV commercials and direct mail enticements letting us how much we will save to switch!
We have always carried all of our insurance with the same company/same policy long before the term "bundling" became popular! We have rarely had a claim so usually opt for the highest deductible possible with the least amount of coverage for personal possessions. Works for us...
I know it varies with the state BUT something everyone should check out is "uninsured/under-insured motorist coverage" - if you don't know what that is - you should find out. Very important to include - ask your agent about it.
Because both car & homeowners insurance have been with SF forever, a hefty discount is automatic. I also obtained another discount for car insurance by completing the "55 Alive" drivers course. Flood insurance is a Federal program and does not apply. In rural CA fire prone areas 30 feet is not acceptable defensible space . Clearing at least 100 ft perimiter and/or replanting with "fire resistant" landscaping, plus sending a written request including supporting documentation to insurance company may reduce insurance premiums.This message has been edited. Last edited by: tessa89,
Posts: 5016 | Location: NE of S.F. | Registered: Apr 13, 2006
We had State Farm for 8 years and then they informed us that they were putting our home with the so called government insurance. They gave us 2 other choices but of course both companies were much higher then Citizens H.O. InS. Since that happened 2 years ago the premium has gone up over $500.00. We do still have our car and truck with State Farm but that is going to change real soon. We were hoodwinked into this situation with State Farm and it is all a scam so that they are rid of H.O. insurance but keep you as your car insurer. We need to get busy now and look for new H.O. ins and car insurance. We have never put in a claim on either and I think we pay horrible premiums. Governmnet insurance in FL is the biggest rip off and this is just another scam by all home owner insurance companies.
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Posts: 2332 | Location: Sarasota | Registered: Jan 31, 2005
DEFINITELY CHECK!!!! I have had Travellers in Maryland ever since I moved here in 1833. Finally took a good look at my premium last year and , I can't remember what line item, but no one could explain it so I said I wanted it removed, Well by that point in the year I was convinced to keep it as I would only be refunded a couple of bucks. So this June I start up the same fuss and I am told that that something changed in Maryland law and I might be able to get better rates under another Travellers plan. I had to fill out new paperwork as if I was a new customer BUT my Homeoners insurance went from $765 to $490 i still don't know the specifics but do I care?? SO always check your own company to see if you have the best plan they offer. I will call Travellers and get the offical answer for all of you.
Posts: 439 | Location: Laurel, MD USA | Registered: Oct 24, 2002
Yes, we shop both home owners & auto if the premiums go up much. I was with Farm Bureau for many, many years until my premiums doubled...I changed and haven't been sorry! We get ours through an independent agent and they work for their monies. All claims have been satisfied quickly and fairly! We had lightening strike our well...that was the only claim we've had.
"The soil is the source of life, creativity, culture and real independence." David Ben-Gurion
i still don't know the specifics but do I care?? SO always check your own company to see if you have the best plan they offer. I will call Travellers and get the offical answer for all of you.
