Home insurance increase.

[GC7]

Mine went up $1500, did some switching around things and got the increase to
$1000. They are telling me it is because of the age my roof. Had my roofing
Company come and do an inspection, inside and out. No problems, he made a
Letter saying so. Installed the best materials 13 years ago. The insurance is basically
Trying to force me to replace the roof on my dime by jacking my price. Maybe I can
Just redo it every couple years with the cheapest shingles I can find, would still
Be cheaper than there increases. Its all a highway robbery racket anyway.

What's normal is for homeowners to pay for their own roof replacements. The past 20 years of insurance giving everyone in OK a new roof after every pea-sized hail storm was an oddity that seems to have cooled down somewhat. We are collectively paying for it now.

Now if it's one of those grapefruit-sized hail storms that punctures through the OSB? Sure that would be insurance due to the rarity of those storms. But the way these roofing companies learned to game the insurance system was just criminal.

 

[SlugSlinger]

I am starting to think more and more that insurance is a scam. I’m paying for all those other folks who abuse the system by paying my fair share to cover their losses.

It’s like life insurance. It’s designed to cover the gap of the person passing away and losing the income stream they provide. I think it was Clark Howard that said to have the insurance when you are young and as you and your savings grow, the insurance shouldn’t be needed because of the savings.

I’m starting to think I need to just self insure, except for liability.

 

[red dirt shootist]

With all the money that the insurance companies have had to pay out this year I expected a increase for them to recoup but it's a little bigger than what I expected and I personally didn't have any claims.....I've been with Farmers for forty years and my increase over last year is $1008.12.

Anybody else seeing a increase in home owners insurance ?

Go shopping every 3 years

 

[1shott]

Mine lowered this year. Escrow payment lowered as a result.

State Farm. Going on 20 years. Full replacement policy for structure, contents, outbuildings and those contents.

 

[conditionzero]

If you never have a house claim, you're missing out on recovering some of that dough.

Definitely, hail and general damage over the years to your roof. I see people in my neighborhood get new ones all the time.

 

[Ryan500L]

Annual increases with Allstate and no claims. Up 19% last year with no good explanation.

I dumped Allstate after 25 years, just kept going up every 6 months. Went with Progressive and I'm happy with them.

 

[Bahick71]

Don't get me wrong, I have no problem replacing my roof when it needs it. But don't raise
My rates simply because of the age of my roof. My point is why should I put good, expensive
Longer lasting componets, if I have to replace within a third of its lifespan. If I don't replace now
It will cost way o re in premiums in a couple years than the roof would. The insurance company
Does not care what components you use, it is time that matters. The other problem is the number
Of companies that will write a home policy with n Ok, its gonna get worse because lack
Of competition. I have insured vehicles.for 45 years, and a home for close to 40 and have
Never filed a claim. Just sucks

 

[1shott]

Don't get me wrong, I have no problem replacing my roof when it needs it. But don't raise
My rates simply because of the age of my roof. My point is why should I put good, expensive
Longer lasting componets, if I have to replace within a third of its lifespan. If I don't replace now
It will cost way o re in premiums in a couple years than the roof would. The insurance company
Does not care what components you use, it is time that matters. The other problem is the number
Of companies that will write a home policy with n Ok, its gonna get worse because lack
Of competition. I have insured vehicles.for 45 years, and a home for close to 40 and have
Never filed a claim. Just sucks

Sadly my house is on its 3rd roof in 25 years.

I figure every 10-12 years have it checked, file a claim, get a new roof and everyone is happy. Its weird but thats how it works, go figure,

 

[AKmoose]

Sadly my house is on its 3rd roof in 25 years.

I figure every 10-12 years have it checked, file a claim, get a new roof and everyone is happy. Its weird but thats how it works, go figure,

Yep, had a "40" year "Impact resistant" roof put on 10 years ago, insurance went from around 2 grand a year 3 years ago up to $4500 this year. Had a roof inspection after the April storms and that 40 year roof had damage, got a replacement. Just went insurance shopping and sure enough found one at the old price so far. Roof age does matter.

 

[John6185]

Periodically I rceive an envelope from an Allstate Insurance representative and they quote me a wonderful low homeowneers policy cost. Sometiems as low as $2,000.00 under my present policy but i read on the internet reviews and Consumer Reports that Allstate is pretty far down on the preferred list for insurance.
I know what they do, they quote a low premium for the first year and then the second year they jack the premiu up in line with other companies. No thanks.