Surging home insurance costs could force families to leave these 10 states
Surging home insurance premiums are the latest obstacle to homeownership for millions of Americans, who are already grappling with steep mortgage rates.
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When the price of homes has skyrocketed along with the cost of materials it's only natural for Insurance cost to skyrocket as well.
I'm not fan of Insurance Companies but the rise in premiums is not their fault it's the massive inflation.
Recently I noticed all of my neighbors having their roofs replaced. I had my roof inspected and they found hail damage I didn't know I had. Having recently changed insurance companies I had to call my old insurance company (Allstate) to make a claim. I knew Allstate was a pain in the ass on claims but made the decision to take the much cheaper premium for a year. Of course when they came out they said the roof wasn't damaged enough for them to replace it. Knowing all of my neighbors had their roofs replaced I appealed Allstate's decision and had them send out a different appraiser. When we had talked on the phone, setting up the appointment, he was subtly trying to set me up for denying the claim again. When he pulled up and saw the neighbors house having their roof replaced he knew I wouldn't take no for an answer and ended up cutting me a check for 30K and an additional 8K when they get the roof done.
I say all of this to LMAO at insurance companies. Here they are paying me damn near 40K, expecting me to pay a 8K deductible for a total of 46K to have a roof replaced. Having rehabbed numerous houses and owning rental properties I know the cost to replace the roof is nowhere near that. And we wonder why insurance premiums are as high as they are.