Just Got My Home Owners Insurance Renewal In

[2012Bearcat]

I changed insurance last year due to the company we were with raising premiums up about another $3000 a year. Shopped around and found a rate only raising our premiums up about $1000 more a year. Just got the renewal in for next year and the premiums have gone up another $2000 a year. Called our agent this morning and was told if I raised our deductible from 1% of value to $15,000, more than double the 1%, they could save me about $1000 a year. Oh how nice of them?
She went onto tell me the Texas Department of Insurance is about to approve another rate hike and insurance companies will start to offer deductibles of up to 3% to help people keep premiums down. Thanks Biden, Democrats and the dumb asses that voted for them, inflation takes another bite out of people's already dwindling paychecks.

 

[OKSTATE1]

We are also moving from a country of home ownership to home rental for the middle class.

 

[SquatchinPoke]

 

[davidallen]

I changed insurance last year due to the company we were with raising premiums up about another $3000 a year. Shopped around and found a rate only raising our premiums up about $1000 more a year. Just got the renewal in for next year and the premiums have gone up another $2000 a year. Called our agent this morning and was told if I raised our deductible from 1% of value to $15,000, more than double the 1%, they could save me about $1000 a year. Oh how nice of them?
She went onto tell me the Texas Department of Insurance is about to approve another rate hike and insurance companies will start to offer deductibles of up to 3% to help people keep premiums down. Thanks Biden, Democrats and the dumb asses that voted for them, inflation takes another bite out of people's already dwindling paychecks.

****ing hack insurance types. ****ing libtards at the Texas Department of Insurance.

Too bad Biden made sure his inflation didn't apply to your property values - that wiley ole ****.

 

[davidallen]

I 'member when we preferred free-market economics around here...

 

[squeak]

****ing hack insurance types. ****ing libtards at the Texas Department of Insurance.

Too bad Biden made sure his inflation didn't apply to your property values - that wiley ole ****.

****ing hack oil companies. ****ing conservative Oklahoma government.

One person’s cost of goods sold is another’s revenue, am I right?

 

[Rdcldad]

ccp/dnc dave pimping the living wage

 

[2012Bearcat]

****ing hack insurance types. ****ing libtards at the Texas Department of Insurance.

Too bad Biden made sure his inflation didn't apply to your property values - that wiley ole ****.

Has more to do with the cost of repairs which are a direct result of Democrat’s inflation. Home value with the insurance co is the same.

 

[SquatchinPoke]

**** those insurance guys. I am with you guys!!! Lol

 

[squeak]

**** those insurance guys. I am with you guys!!! Lol

**** State Farm

 

[LAY THE WOODY]

Might be the insurance industry driving the thought of "climate change". Anyone thought of that?

 

[squeak]

Might be the insurance industry driving the thought of "climate change". Anyone thought of that?

Dave’s a climate change expert. Maybe he can weigh in?

 

[SquatchinPoke]

**** State Farm

That’s little leagues. Commercial Trucking is nuts.

 

[iasooner2000]

At under 225 ? No whey !

 

[aix_xpert]

****ing hack insurance types. ****ing libtards at the Texas Department of Insurance.

Too bad Biden made sure his inflation didn't apply to your property values - that wiley ole ****.

This isn't about property value. Its about rebuild cost. And Bidenomics has certainly applied there.

 

[davidallen]

This isn't about property value. Its about rebuild cost. And Bidenomics has certainly applied there.

Are you trying to convince me that rebuild cost and property value aren't connected?

 

[purkey]

rebuild cost directly impacts property value. Not dollar for dollar, but it impacts it.

 

[2012Bearcat]

Are you trying to convince me that rebuild cost and property value aren't connected?

LMAO. Inflation good because home values are up. SMFH.

 

[squeak]

Are you trying to convince me that rebuild cost and property value aren't connected?

 

[soonerinlOUisiana]

Has more to do with the cost of repairs which are a direct result of Democrat’s inflation. Home value with the insurance co is the same.

Fatso pwned again.

 

[aix_xpert]

Are you trying to convince me that rebuild cost and property value aren't connected?

They are correlated, but that doesn't make the original statement correct. Insurers don't care about property value, as it pertains many items that aren't relative to their rates, such as premium lots, lot sizes, and neighborhood. They care about rebuild/replacement costs.

 

[Syskatine]

They are correlated, but that doesn't make the original statement correct. Insurers don't care about property value, as it pertains many items that aren't relative to their rates, such as premium lots, lot sizes, and neighborhood. They care about rebuild/replacement costs.

They care about their profit and are gouging the $%&* out of consumers everywhere they can. Premiums are going nuts in certain areas, far outpacing inflation and building materials costs. Besides, materials came back DOWN.

THANKS TX DWPT IF INSURANCE

Incidentally, has the TX DOI ever done anything they woukd jeopardize the bottom line of a major insurer? Ever?

 

[aix_xpert]

They care about their profit and are gouging the $%&* out of consumers everywhere they can. Premiums are going nuts in certain areas, far outpacing inflation and building materials costs. Besides, materials came back DOWN.

THANKS TX DWPT IF INSURANCE

Incidentally, has the TX DOI ever done anything they woukd jeopardize the bottom line of a major insurer? Ever?

Good. When you jeopardize the bottom line of the insurer, they leave the state. And if they leave, then everyone's rates go up even further. But let's be honest; that's what you socialists want. Then the good ol' government can swoop in with a solution, just like Obamacare.

 

[JimmyBob]

Good. When you jeopardize the bottom line of the insurer, they leave the state. And if they leave, then everyone's rates go up even further. But let's be honest; that's what you socialists want. Then the good ol' government can swoop in with a solution, just like Obamacare.

Sofa king predictable that you make an intelligent post and all you get is a douche emoji from google douche.

 

[Sunburnt Indian]

Sofa king predictable that you make an intelligent post and all you get is a douche emoji from google douche.

Is JimmyBob the board's leading master at analyzing the board's slow 13? soonerinlOUisana second?

My Make A Wish Foundation wish is to sit as an observer in the class room and watch aix_xpert unmercifully abuse Sysk and Dave in the simplest available intelligence quotient exercise. I'm not asking for a difficult test.

I've never used the "ignore" feature. Imagine me missing the smart people making such fools of the slow.

 

[22LR]

People buy lottery tickets. I don't. I don't gamble.
People go to the casinos. I don't. I don't gamble.
People do sports betting. I don't. I don't gamble.

But then there's homeowners insurance. I dropped it. I gamble.

I had a 10% deductible and was still paying out the wazoo. If a hail storm wiped out my roof, I pretty much had to pay for it out of pocket just with the deductible. What kind of insurance is that? I took that premium money and saved it. I'm +$50K in my home repair fund now. I'm on my own. My biggest worry is not having liability insurance. I don't feel as comfortable about that. Catastrophic recovery will come out of pocket. I'm prepared. It's a gamble.

Footnotes:

a) Supposing I had homeowners insurance coverage. But my roof is over ten years old. (Mine is older than that). Along comes a hail storm. The adjuster comes to the house and "adjusts". You're screwed out of big money just because of the age of your roof.

b) Oklahoma has the highest homeowners premiums in the nation. Nothing political there. Our weather sucks big time.

c) Unlike auto insurance, the homeowners insurance companies don't give a crap if you've never filed a claim. Rates are based on your area's paid out claims. We all pay for dishonest and/or unskilled dumbass homeowners who file frivolous claims.

d) I carry the best auto insurance coverage possible on my vehicles. Same with health insurance. I don't gamble there.

 

[22LR]

They care about their profit and are gouging the $%&* out of consumers everywhere they can. Premiums are going nuts in certain areas, far outpacing inflation and building materials costs. Besides, materials came back DOWN.

THANKS TX DWPT IF INSURANCE

Incidentally, has the TX DOI ever done anything they woukd jeopardize the bottom line of a major insurer? Ever?

I agree with the first paragraph of your post. I don't live in TX so I have no opinion on the rest of it.

So... it appears you live in Texas, not Oklahoma.

 

[Syskatine]

Good. When you jeopardize the bottom line of the insurer, they leave the state. And if they leave, then everyone's rates go up even further. But let's be honest; that's what you socialists want. Then the good ol' government can swoop in with a solution, just like Obamacare.

Man this in in the running for the all-time dumbass post. Whew. God love ya, man, lol.

 

[SquatchinPoke]

I just got my commission check. I rubbed one out knowing it would kiss sys off.

 

[aix_xpert]

People buy lottery tickets. I don't. I don't gamble.
People go to the casinos. I don't. I don't gamble.
People do sports betting. I don't. I don't gamble.

But then there's homeowners insurance. I dropped it. I gamble.

I had a 10% deductible and was still paying out the wazoo. If a hail storm wiped out my roof, I pretty much had to pay for it out of pocket just with the deductible. What kind of insurance is that? I took that premium money and saved it. I'm +$50K in my home repair fund now. I'm on my own. My biggest worry is not having liability insurance. I don't feel as comfortable about that. Catastrophic recovery will come out of pocket. I'm prepared. It's a gamble.

Footnotes:

a) Supposing I had homeowners insurance coverage. But my roof is over ten years old. (Mine is older than that). Along comes a hail storm. The adjuster comes to the house and "adjusts". You're screwed out of big money just because of the age of your roof.

b) Oklahoma has the highest homeowners premiums in the nation. Nothing political there. Our weather sucks big time.

c) Unlike auto insurance, the homeowners insurance companies don't give a crap if you've never filed a claim. Rates are based on your area's paid out claims. We all pay for dishonest and/or unskilled dumbass homeowners who file frivolous claims.

d) I carry the best auto insurance coverage possible on my vehicles. Same with health insurance. I don't gamble there.

Get an umbrella policy to cover your liability coverage. That's a lot cheaper than a regular home policy and covers you beyond your home.

And I'm not sure B on your list is correct, at least not after listening to how things are here in Florida. Everytime it rains here, people are filing claims for their roofs to be replaced and then filing lawsuits if the insurance denies it. That's why Florida is seeing companies leave. We replace roofs at 4x the rate of the rest of the nation and its not sustainable for the insurance companies.

 

[Ponca Dan]

I 'member when we preferred free-market economics around here...

Can’t speak for anyone else, but I do and always will.

 

[Ponca Dan]

They care about their profit and are gouging the $%&* out of consumers everywhere they can. Premiums are going nuts in certain areas, far outpacing inflation and building materials costs. Besides, materials came back DOWN.

THANKS TX DWPT IF INSURANCE

Incidentally, has the TX DOI ever done anything they woukd jeopardize the bottom line of a major insurer? Ever?

Ironically a free market would take care of the gouging that government interference is responsible for, and yet dolts like you and @davidallen would prefer more government interference. And the weird thing is you two, but especially David, think you’re so damned smart.

 

[22LR]

Get an umbrella policy to cover your liability coverage. That's a lot cheaper than a regular home policy and covers you beyond your home.

And I'm not sure B on your list is correct, at least not after listening to how things are here in Florida. Everytime it rains here, people are filing claims for their roofs to be replaced and then filing lawsuits if the insurance denies it. That's why Florida is seeing companies leave. We replace roofs at 4x the rate of the rest of the nation and its not sustainable for the insurance companies.

Thanks for the advice on the umbrella policy.

I got my info on b) from a web search like the one linked below. Some sites say Oklahoma wins the prize. Other say Florida.

https://www.insurance.com/home-and-...s/average-homeowners-insurance-rates-by-state

I think we can both agree Oklahoma's weather is among the worst.

 

[inspoke]

Get an umbrella policy to cover your liability coverage. That's a lot cheaper than a regular home policy and covers you beyond your home.

And I'm not sure B on your list is correct, at least not after listening to how things are here in Florida. Everytime it rains here, people are filing claims for their roofs to be replaced and then filing lawsuits if the insurance denies it. That's why Florida is seeing companies leave. We replace roofs at 4x the rate of the rest of the nation and its not sustainable for the insurance companies.

Florida did recently pass new insurance laws that should slow the lawsuits down. But it will take a while to work through the ones already filed.

 

[Syskatine]

Ironically a free market would take care of the gouging that government interference is responsible for, and yet dolts like you and @davidallen would prefer more government interference. And the weird thing is you two, but especially David, think you’re so damned smart.

Just wrong as rain, Dan. There's been no government pressure limiting their homeowner's rates. What has government done to make carriers charge higher prices?

If room claims are really the culprit, they just exclude coverage or have high wind and hail deductibles. I know, I know, you disbelieve everything from government and believe everything that comes from business, but they're lying if they're saying roof claims are driving the increases.

It's also worth noting that in my lifetime, insurance premiums have never gone down. Building costs have, but premiums never do. Know why?

 

[Cypresspoke]

Live in Houston, Recently, every time we had a thunderstorm pass through the roofers are scouring the neighborhood looking for roof jobs, 3 and 4 different companies every time banging on the door, never saw that as much before.

 

[Ponca Dan]

Just wrong as rain, Dan. There's been no government pressure limiting their homeowner's rates. What has government done to make carriers charge higher prices?

If room claims are really the culprit, they just exclude coverage or have high wind and hail deductibles. I know, I know, you disbelieve everything from government and believe everything that comes from business, but they're lying if they're saying roof claims are driving the increases.

It's also worth noting that in my lifetime, insurance premiums have never gone down. Building costs have, but premiums never do. Know why?

I sometimes wonder if you think things through before you post. You say in your lifetime insurance rates have never gone down. Have you observed that in the same time frame the industry has been regulated by government agencies whose job it is is to oversee the regulations it inflicts? And who has the primary incentive to concern itself with what regulations are instituted by regulators they work tirelessly to control? Why, it’s the insurance industry itself! How shocking that an industry would seek to be in charge of the agency whose job it is is to regulate the industry!

 

[SquatchinPoke]

Interesting thread.

 

[Syskatine]

Have you observed that in the same time frame the industry has been regulated by government agencies whose job it is is to oversee the regulations it inflicts?

No. Their premiums aren't really regulated. Theoretically maybe, but the instant an insurance commissioner rejected a rate filing they'd be market meat. Are you aware of the last time a state insurance commissioner prevented a premium increase? Hell our own insurance commissioner allowed the industry to start marketing earthquake insurance in Oklahoma that didn't cover earthquakes covered by oil and gas activity, lol. Real tiger, that OK Ins. Dept

Its sort of like how Oklahoma is both a leading energy producer and we're also a high cost of energy state. Bob Anthony is the only commissioner I can recall that would say "No" to rate increases and he's always outvoted. Don't look for meaningful regulation in these red states.