Anybody besides me PO'd about Home and Auto Insurance ?

[bmudd14474]

Thanks for keeping this civil. This is why I love this site.

 

[millerbuilds]

Yep sucks and after all of the hail and storm damage here in North Texas, they will be going up again....

- Jason

 

[hotch]

I went looking last fall and to switch HO ins providers it would have been doubled. State Farm said flat out NO! New software won't allow coverage, others twice the cost! Good news is my property taxes are frozen due to being over 65.

 

[chopsaw]

Yep sucks and after all of the hail and storm damage here in North Texas, they will be going up again....

Yup . I got hammered back in March . I also got hammered back in 2009 . Got a check back in 2009 , that didn't cover the repair . Never had it fixed , because I was dealing with other stuff .
They called me back then and told me I had to cash the check , so I did . Roof isn't leaking but it's in bad shape . I still have the 2009 money , just need to call and see what they will do .
The State Farm agents won't even talk with you anymore . I pressed mine on that and he told me it's because the company thinks they are " Friends " with the clients .
I'm 63 and been paying them since I was 16 . Might mean something ? Not anymore .

 

[fxsales1959]

My auto insurance goes up every 6 months.
Just got Homeowners renewal. Up about 80% in 2 years.

I need to win the Lottery and be self insured.

Thank goodness you're not in Florida. my escrow has raised my mortgage $250/month in two years.

 

[chopsaw]

Yup . Mine just went up $180.00

 

[KBFlyer]

I live in a old farm house that had a fuse box. Never a problem but got a call from the insurance company saying if I don't change to breakers they will not cover replacement value of my home. The also raised my monthy payment by 40 bucks with less coverage. About a year later they said If I don't change to breakers they are going to cut me off all together. So got ahold of a good electrition and got the breakers put in. Thought my mpnthy payment would go back down. NOPE, it went up again but at least now I have full coverage. So over about 2 1\2 years mine went up over 60 dollors a month. This is happening everywhere as I am in Canada.

 

[jcam222]

Insurance companies have taken a beating in the bond market over the last two years. That is a huge driver of th increase.

 

[SmokinVOLfan]

Insurance companies have taken a beating in the bond market over the last two years. That is a huge driver of th increase.

Exactly what my agent told me when I asked why my auto rates went up. Said they are dropping people for any reason possible and nothing he can do about it. And my agent is a buddy of mine who has given me every discount possible and then some. Have home, auto, and life and have for years. No claims and never cost that company a dime. Can’t wait for my escrow analysis next month. Property assessor has already sent me a nice letter.

I work in the banking industry as you know and I can tell you I have never seen bankruptcy filings, charge off losses, and upside down loans so high. High balance credit card debt through the roof. Variable rate heloc loan apps are severely going up at the going rate of 10% right now. People can barely afford to live or buy groceries. We might as homeowners bitch about property taxes and insurance but have you seen rent prices? 2BR apartments for 2k+ a month. Pretty sad out there.

 

[Brokenhandle]

Exactly what my agent told me when I asked why my auto rates went up. Said they are dropping people for any reason possible and nothing he can do about it. And my agent is a buddy of mine who has given me every discount possible and then some. Have home, auto, and life and have for years. No claims and never cost that company a dime. Can’t wait for my escrow analysis next month. Property assessor has already sent me a nice letter.

I work in the banking industry as you know and I can tell you I have never seen bankruptcy filings, charge off losses, and upside down loans so high. High balance credit card debt through the roof. Variable rate heloc loan apps are severely going up at the going rate of 10% right now. People can barely afford to live or buy groceries. We might as homeowners bitch about property taxes and insurance but have you seen rent prices? 2BR apartments for 2k+ a month. Pretty sad out there.

I'm going out on a limb... yell at me if you want. And yes leave all politics out of it... but what everyone is feeling... inflation is affecting everyone! Thus makes paying more for everything harder for most. We all know the cause... deny it or not. Feel bad for the ones it affects most.

Ryan

 

[chopsaw]

Started back in 2019 . Ground beef was 11 bucks a pound .

 

[pc farmer]

Started back in 2019 . Ground beef was 11 bucks a pound .

Dang. I have never seen that. Must be a area thing.

 

[flatbroke]

I'm going out on a limb... yell at me if you want. And yes leave all politics out of it... but what everyone is feeling... inflation is affecting everyone! Thus makes paying more for everything harder for most. We all know the cause... deny it or not. Feel bad for the ones it affects most.

Ryan

You know, the thing. I do feel bad as a lot of people are just barely getting by.

 

[Brokenhandle]

Started back in 2019 . Ground beef was 11 bucks a pound .

Back on track... the huge losses the insurance companies have had to deal with is the reason for the increases. I hate them as much as lawyers! But it is what it is. Give a F what the price of ground beef was in any year. Rich, you know I appreciate you and all the help you have given me.

Ryan

 

[TNJAKE]

6 vehicles and our house insured with USAA. Great rates. No increases and outstanding personal service

 

[TNJAKE]

Also we have zero debt, no mortgage, car payments or credit cards/loans…….. that’s the issue, folks taking on more than they can afford then complaining when times get tough.

 

[Brokenhandle]

6 vehicles and our house insured with USAA. Great rates. No increases and outstanding personal service

Better enjoy it

Ryan

 

[Brokenhandle]

Also we have zero debt, no mortgage, car payments or credit cards/loans…….. that’s the issue, folks taking on more than they can afford then complaining when times get tough.

But that is only a thing since covid, before that things were different.

Ryan

 

[SmokinVOLfan]

Also we have zero debt, no mortgage, car payments or credit cards/loans…….. that’s the issue, folks taking on more than they can afford then complaining when times get tough.

That’s the issue. Everything has gone up except wages and people having to use high interest credit cards and borrow against their homes to afford to buy groceries and live.

 

[JLinza]

Auto, Home & our property taxes have gotten insane. At least here in Colorado, but I'm guessing everyone else has gone up too.