Home insurance rate increase

[hammerdown51]

Anybody else get a huge increase in their home owners insurance? Our’s went from $1884 a year to $3110 a year. Auto went up $200 a year.

 

[Firpo]

Yep but ours hit last year, went up around 35%. Just received the policy renewal for this coming year and it only rose 5% which was a pleasant surprise. I was expecting another big increase.
…….bastards!!!!

 

[TinkerTanker]

yes, but the house value went through the roof too. I imagine it's just more Bidenflation.

 

[okcBob]

Same here. Every year I shop around to get a cheaper rate for the same coverage. I tell them I’ll stay if you can match the other guys rate. They never do

 

[HarryBear]

It only goes up because of the value of your home at time of snapshot is what they charge for replacement cost.
So if your home is worth in current market $500k and only honestly to replace it will cost $400k, lower your coverage to $400k not their price at $500k. Just an example not financial advice.

 

[Fr Mulcahy]

Yep but ours hit last year, went up around 35%. Just received the policy renewal for this coming year and it only rose 5% which was a pleasant surprise. I was expecting another big increase.



…….bastards!!!! 

Yes, ours went up by about the same amount as yours.

 

[Cat City Slim]

It’s a good practice to shop your insurance every three years or so. It’s a pain in the butt, usually worth the effort to get the best deal.

 

[Gunbuffer]

What ins companies?

 

[Broncos]

We found Costco insurance through American Family had the best rates Have to maintain Costco membership They call it Connect

 

[Firpo]

Ours is with Great Northwest Insurance through Geico. We had Travelers but they went sky high and we made the switch two years ago. Before that I had everything with Allstate who treated me well for 38 years, that was until we moved to Oklahoma and they tried to double-triple our rates.