Homeowners Ins.

[CHASZ51]

Originally Posted by Nytro

85 Vette, I don't need a link to know how much I am getting screwed, soaked. My last year in Mass my homeowners insurance on a $475,000 home was $635.00, and that included riders for my wifes jewelery and our Rolex's. My first year here in 2004 my premium was $1295.00. Last year it went up to $1683.00 and a month ago Travelers notified me that I was being dropped because of a risk factor, must be all those claims I have submitted in my 25 years of home ownership, that would be zero. So in searching for a new carrier last month I got prices for the same coverage and deductables ranging from $1645.00 to $3299.00. I finally went with State Farm, but it really doesn't matter, their all smiley and friendly until you need to make a claim, then the battle begins.

NBFRC how come so inexpensive for your policy ???????

You should see what HOI cost here on the coast in Pasco county!

Homes on the water cost around $12000 to $20,000a year, even smaller homes not on the water cost around 4 to 8000 a year.

I am going bare since i paid cash for my house.

[Rich Z]

Well, what I want to know is if State Farm (and others) claim the losses from hurricanes are responsible for the premium increases, then why won't they let me unbundle the hurricane rider from my policy? Obviously they are just using that as an excuse. The whole sales pitch concerning insurance is based on a LOT of people paying premiums that will amply cover those few people who have to collect on it. Based on the premiums I now see, the original premise previously mentioned is no longer their strategy. The strategy now, from what I can see, is that each individual policy owner is expected to pay via their premiums the likely losses the policy holder might incur over the life of the policy. I'm sure actuaries have figured out the likely risks for each policy holder profile and the policy premiums are based accordingly.

Now, that being said, what State Farm did was to spin off Florida into it's own separate company. I presume so that if things get really dicey for them, the sub-company can then simply declare bankruptcy, leaving all the policy holders holding the bag.

[00 NBFRC]

Originally Posted by Nytro

NBFRC how come so inexpensive for your policy ???????

Dwelling $153000
Other Structures $15300
Personal Property $114000
Loss of Use $30600

Personal Liability Each Occurrence $400000
Medical Payments to others Each Person $2000

Total Policy Premium $1283 for 1 year
Hartford Fire Insurance Company
Agent is Brown & Brown in Melbourne

I dont live in a waterfront home. It is more like a starter home neighborhood but still on a barrier island 6 feet above sea level. Im not in a flood plain but the house behind me is. Built in 1978 CBS. I claimed a new roof in 2004 during the last major hurricanes. I have my auto policy thru them also, so I probably get a little break there. But my damn daily driver 1991 Lincoln Mark VII is more expensive to insure than the vette. Go figure!

[Qman]

Im so sick of it. I don't even have homeowners ins.

[Rich Z]

Well, pretty soon you'll be able to determine easily whether you need insurance or not. Apply for it. If you are turned down, you need it. If they accept your business, you don't.....

[00 NBFRC]

As soon as I pay off the mortgage, they can go #%*! themselves. Working tons of overtime to make extra principle payments. But on the other hand, it sucks to have all that equity there not working for you. Then you have to dip in and thats when property insurance is required.