Homeowner Insurance Premiums

[Sneakers]

I don't call my insurance company anymore. Everytime I call and pose a theoretical question about coverage or claim, my rates go up.

I got hit with that "cost to replace your house" upcharge a few years ago.

 

[Clem72]

For your consideration ...





As I've said in the past, all insurance rate increases are the barometer of the actual annual inflation rate. Claims really do not come into play here at all, when one factors in .... deductibles, partial claim or whole claim dis-allowances, and the adjuster's final number that the insurance company is willing to pay, which is always a low number never making one whole. It is a racket because, ya know, shareholders?

Oh yeah, and now throw in AI claims, software adjusting, into the mix and wham-o.

Over the years, you pay in $5 to maybe get $1 back from claims, if you are lucky.

I think your 5 to 1 estimate is a little off. I have been paying for 40+ years and have never made a claim (auto or home).

 

[PeoplesElbow]

I think your 5 to 1 estimate is a little off. I have been paying for 40+ years and have never made a claim (auto or home).

I think you may be the exception. This was my first insurance claim ever, but everyone I work with has had their roof replaced by the insurance company, some guy that comes around right after a storm and is an "insurance roof replacement specialist".

 

[Clem72]

I think you may be the exception. This was my first insurance claim ever, but everyone I work with has had their roof replaced by the insurance company, some guy that comes around right after a storm and is an "insurance roof replacement specialist".

No new roofs in my neighborhood except for normal replacement of old stuff. Maybe it's because I live in the woods, so while there are more limbs and trees that could fall on and around the house the trees also block a good deal of the wind.