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View Full Version : SS - Homeowners insurance WAY up


thresher
08-08-2006, 08:31 PM
Yeah. I always say you can't live next to the airport and complain about the noise but listen to this:
2003 - insurance:wind-150, flood-120, contents-65, home-200
2004 - insurance:same
2005 - insurance:increase %5 with warning of future increase
2006 - insurance:got bill in November of 'o5... increased %35
2007 (get ready) - insurance:wind - $3,500 flood - $3,000 contents - $1,400 home $2200

I cannot afford to stay in my tiny cottage beachside. They have successfully run me off. Carla and I will be selling and heading to either (back to) Austin, or Birmingham or the like. Anyone want a cute cottage with outrageous insurance costs? My mortgage is only $800 a month, but my insurance brings it up to almost $1800. Pathetic.
Markel
08-08-2006, 08:37 PM
Yow! Have you checked around to see if other companies are extortingcharging similar prices?
Kim
08-08-2006, 08:47 PM
Yowza! Good luck with the sale.
kgsilvas
08-08-2006, 09:22 PM
I'm with Markel. I'd search some of the smaller companies too. If you haven't had major claims, it seems like you should be able to get lower rates. Good luck!
thresher
08-08-2006, 09:27 PM
I live beachside - only one company available (and it's state funded) - natch. And I did have that one tiny $58k claim in '04 when Charlie blew my house down. :) I just didn't know they would expect me to pay it back in 40 easy payments. (!)
brainsmile
08-08-2006, 10:37 PM
hurricanes?
johnnymk
08-09-2006, 04:33 AM
When my sister moved to Florida 9 years ago, it was a fairly cheap place to live. Now it's just steenking hot and sucks big time. I would never move there.
Markel
08-09-2006, 09:51 AM
I just didn't know they would expect me to pay it back in 40 easy payments. (!)
40 payments? With the latest increase, 7 years (without claims) would more than cover the $58k payout!
gwilks98
08-09-2006, 10:48 AM
I wonder if the rise in value in homes is helping with the cost of the insurance claims, thus driving up your price. I wonder if it will go back down when the housing market corrects itself.
MrGreg
08-10-2006, 11:34 AM
That sucks, but if I ran an insurance company, I would most certainly be re-evaluating the risk of significant damage due to hurricanes and do the premiums cover that risk.
JesseeezMom
08-11-2006, 01:09 PM
Our insurance just went up too. They told me that it went up because the value of my house has gone up. What was their reason for increasing yours?