Home insurance - Page 2

94chem

6:18p, 4/26/24

Just moved 5 cars, 2 homes, umbrella. Will probably move everything. Saved around $6000/year. Not bad for a day off!

94chem,
That, sir, was the greatest post in the history of TexAgs. I salute you. -- Dough

Aggie71013

7:34p, 4/26/24

In reply to Maverick06

12 years isn't even that old of a roof.

Yesterday

10:42p, 4/26/24

In reply to 94chem

94chem said:
Just moved 5 cars, 2 homes, umbrella. Will probably move everything. Saved around $6000/year. Not bad for a day off!

What does this mean? Does this umbrella cover everything? What's the deductible? Thanks!

Sea Speed

11:43p, 4/26/24

In reply to Yesterday

I assume he simply means he moved 5 cars, 2 homes and an umbrella policy.

Yesterday

3:07a, 4/27/24

In reply to Sea Speed

Sea Speed said:
I assume he simply means he moved 5 cars, 2 homes and an umbrella policy.

Ah. That makes more sense

JustPanda

7:03a, 4/27/24

Our home insurance in Colorado went up 319% because of the Marshall Fire. Guess that's what happens when every carrier leaves the state. Consider yourselves lucky.

wessimo

2:17p, 4/27/24

Insurance on our rental in Houston went from $3k to $5k AND they jacked the deductible up to 5%. Trying to figure out if it is even worth keeping it.

jaggiemaggie

9:55a, 4/29/24

In reply to wessimo

Who is your provider ? My just gave me notice that they are not renewing

aTm2004

10:35a, 4/29/24

In reply to 94chem

94chem said:
3400 square feet in 77339. Goosehead, via Sagesure, just raised me to $5231. I'm switching to AllState for $3127.

Which agent? I'm in 77345 and have been with Goosehead and renewal is $5k. 3300 sq/ft.

wessimo

10:59a, 4/29/24

In reply to jaggiemaggie

Homeowners of America

jaggiemaggie

12:00p, 4/29/24

In reply to wessimo

That's who I have and they sent me notice that they are not renewing

Absolute

1:37p, 4/29/24

In reply to LoneStarBQ

LoneStarBQ said:
These days you just have to shop around. Do this every couple of years because they are starting to do introductory rates and then hike them in a year or so. Flood insurance is a different animal and is supported by the government.

In my experience this used to be true, but now things have changed and it isn't working that way anymore. I have tried shopping my current policies multiple times over the last couple years. The best I found was a couple years ago where it was the same. Lately, none of the new quotes are even close to being competitive.

Not sure what the answer is, but it is going to become a big problem in multiple ways.

rlb28

1:58p, 4/29/24

What the Bleep is going on w/ Texas home insurance?

Story from Texas Monthly

Sea Speed

2:21p, 4/29/24

In reply to rlb28

Figured it would be there, but of course there's more climate crisis alarmism. Of course houstons favorite meteorologist turned political tweeter was quoted.

Quote:
With forecasts calling for a potentially record-setting Atlantic hurricane season, Texas is unlikely to see a respite from natural disastersor rising home insurance premiumsanytime soon. "There's a lot of people who say, well, the market can solve everything," said Houston meteorologist Matt Lanza, managing editor of the popular website Space City Weather. "Well, the market is telling us that climate change is an issue, because insurers are scared of what the future holds. You're going to have these storms every year."

jja79

3:10p, 4/29/24

In reply to Sea Speed

He doesn't seem to understand the difference in weather and climate.

Seamaster

9:14a, 5/22/24

Every time I hear 'climate change' as an excuse for insurance rates = Massive Eye Roll

This is mostly being driven by inflation, just like everything else. The cost of materials, labor and repairs is going through the roof so, guess what? So is insurance.

Sure, we have weather events (just like always). Yes, those events are costing insurers more than in the past, but that's because of more infrastructure/buildings in existence and because of inflation.

In any event, I am bracing for impact for our homeowner renewal.

2007 house - original roof. The roof is a '30 year architectural shingle' with zero problems. I am already self-insuring it with a 2% deductible. I got a quote with a "Goosehead" agent that was going to save me a little money (from State Farm) but once he found out my roof was 2007, the company wouldn't take it.

So, now what? Go pay for a new roof when I really don't need one for another 5-7 years? And then, after I get a new one, be faced with having to get another new roof in about 10 years? So then we're replacing perfectly good roofs every 10 years so we can placate insurance companies that set our deductible for roofs super high anyway so we're in effect self insuring them?

PeekingDuck

12:51p, 5/22/24

In reply to Seamaster

That's exactly right. And even if you go to a depreciated replacement or outright "self-insure" with ridiculous deductible, the premiums won't offset. It is entirely driven by inflation.

jenn96

4:30p, 5/22/24

In reply to jaggiemaggie

jaggiemaggie said:
That's who I have and they sent me notice that they are not renewing

Are you in Houston? I have Homeowners and am really worried we aren't going to be renewed either.

Whoop Delecto

4:49p, 5/22/24

In reply to jenn96

jenn96 said:
jaggiemaggie said:
That's who I have and they sent me notice that they are not renewing
Are you in Houston? I have Homeowners and am really worried we aren't going to be renewed either.

Consider yourself fortunate. They are great at collecting premiums but awful on claims

jenn96

5:04p, 5/22/24

I'm just worried about insurance in general. We have an older roof (about 10-12 years). It's fine with no damage but that doesn't seem to matter anymore.

jaggiemaggie

7:48p, 5/22/24

In reply to jenn96

Yes I'm in Houston. It's messed up bc next door rental was able to renew with homeowners insurance first week of April but I guess they decided not to cover Houston anymore…

It was stressful trying to find a new provider. My coverage ended on 5/13 and I received a letter from Goosehead on 4/24 sent me a letter on 4/23 telling me Homeowners wasn't renewing and didn't even bother reaching out to provide any help solution.

Reach out to scott@affinityinsurance.agency He wasn't very helpful