Curious about peoples thoughts on the high cost of auto and homeowners insurance.

I’m in Florida, and last year I trashed my homeowners policy. Since I own my home, I have that option. I will take the risk. It’s an older home and has made it through several hurricanes with minor damage, all below the deductibles. Automobile insurance is another matter and I have the lowest cost one for this area and it is still ridiculously high. Not sure what the answer is.
 
Drive carefully.

Keep your home well maintained to avoid claims for things that can be prevented (Leaking water is high on that list). Don’t burn the place down. Only make claims for indidents that would be financially tough to pay out of pocket.
 

Brookswood said:
Drive carefully.

Keep your home well maintained to avoid claims for things that can be prevented (Leaking water is high on that list). Don’t burn the place down. Only make claims for indidents that would be financially tough to pay out of pocket.
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Wise advice and agreed. While it’s ALL gone up, the premiums associated with hurricane damage is the wild card. Short of catastrophic damage, repairs would be under the $40k deductible. I’ll take the risk.
 
palides2021 said:
Unfortunately, it's not that easy. We tried it once on a vacation home. It flooded and we had to gut the whole place and start all over, paying a pretty penny. Never again. I always have insurance now.
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Yeah, my neighbor had a leak and flooded his house and the insurance deductible was about 20K. But, they covered the rest. He had wooden floors. A total disaster. When I leave now I turn the water off. Also I put in tile floors. I live in an area with very little weather damage. I looked into it, and may get it again as the price of this place has gone through the roof ( as in tripled in price). Crazy. Most people keep it but it has worked for me.
 
I use USAA for 2 autos, homeowners and umbrella. Yes, rates go up every year along with everything else. Cars are older (2016 and 2017) so
that helps with premiums.
 
I pay about $1,200 a year for a 2018 Jeep Wrangler. I don't have a commute anymore, escaped living near a city, and keep my trips short. On a side note, I was charged $840 personal property tax on this vehicle last year ending ... evil.
 
This is one reason I feel grateful we are moving. I can now go without car insurance b/c it's literally 10 minutes to everything we need Driving on a Sunday morning pretty much means not seeing anyone along the way. A deer running out in front of the car is the real risk but that was never covered anyhow unless we paid for full coverage. Our 2021 E-Car stops much faster and easier than the other car so it's much safer.

Instead of getting homeowners insurance on this cabin, which is impossible since it's off-grid, we are choosing to invest in a DIY Sprinkler system which is operated remotely. Wildfire is the #1 risk. We'll have massive amounts of endless water from a spring which should protect the cabin. We've already rode our Electric bikes to the local Mom and Pop store, it took only 2 hrs round trip. The bike trailer came in handy as we were able to buy groceries and haul them home. It takes very little power for the battery versus our Electric car. A really nice ride so we'll try to commit to Electric biking most everywhere we go.
 

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