Homeowners insurance premium shot up from last year

debodun said:
Just got my bill for homeowner's insurance. It's $1440 up from last year. According to the invoice, it was because of a "claims adjustment". What good is having insurance if they are just going to bill you back for what they paid out for a claim?
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Yes, it's maddening, the whole insurance thing seems like a built in legally sanctioned fleecing scheme.
 
My homeowners has literally tripled since 2003 and I have never had a claim.

I added replacement cost on all the buildings 5-6 years ago, so that cost a pretty penny.

I had to raise the deductible to $2,000 and I am still paying enough of a premium to choke a Clydesdale.

My HO premium has passed up my RE taxes by a good margin. Thankfully I am in an Ag county and I have enough acreage to be on the Green Belt, which helps a lot. The hay that comes off one section is decent enough for the neighbor’s cattle.

Life is balancing act whether we own our proper or we rent and the rent keeps going up 🤯🤯
 
That's really shocking Deb,... and i definitely would be looking for new insurers in your position, because your loyalty with insurance companies is treated with contempt... and also very often new premiums with a new company is not only much less than you're paying, but you often get a new client discount as well

I've been going through the same thing with Car insurance currently..

My Car insurers quoted me much more for for my new car even tho' it has a smaller engine than my last.. actually quoted me 3 times the price that I was paying for my Ford, and that's with full No Claims Discount .. so I went onto a comparison site.. and found that the Biggest Car Insurance company in the uk.. offered me the same cover..for a third of the price..so I've just literally this afternoon taken out that new fully comprehensive policy with them
 
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They are all liers and defrauders tbh...

30 minutes ago I got an email from the Insurance underwriters who are dealing with the personal injury side of the claim from my recet car accident

I have never spoken to them on the phone or in person. This far they sent me one mail a week ago, asking for photos of my injuries, and never even acknowledged receipt of them.... yet this is the literal full content of the email they sent me today...

Your Accident : 10 July 2025

Thank you for your time on the phone recently. You will recall that we went through the content of your Claims Notification Form (CNF), and you confirmed same to be accurate. I have today submitted the CNF on your behalf to the other driver’s insurer. This means that your claim has been commenced.

The other driver’s insurer now has 15 working days to respond, before the claim moves to the next stage of the process. I must draw your attention to the fact that when agreeing the content of the CNF you also consented to our signing the Statement of Truth on your behalf. I am obliged to make you aware that if you have approved the CNF without an honest belief in the contents of the document, you may be liable for contempt of court. I will be in touch as soon as I have a response from the other driver’s insurers.


All the bold, a complete work of fiction....:rolleyes:
 
hollydolly said:
They are all liers and defrauders tbh...

30 minutes ago I got an email from the Insurance underwriters who are dealing with the personal injury side of the claim from my recet car accident

I have never spoken to them on the phone or in person. This far they sent me one mail a week ago, asking for photos of my injuries, and never even acknowledged receipt of them.... yet this is the literal full content of the email they sent me today...

Your Accident : 10 July 2025

Thank you for your time on the phone recently. You will recall that we went through the content of your Claims Notification Form (CNF), and you confirmed same to be accurate. I have today submitted the CNF on your behalf to the other driver’s insurer. This means that your claim has been commenced.

The other driver’s insurer now has 15 working days to respond, before the claim moves to the next stage of the process. I must draw your attention to the fact that when agreeing the content of the CNF you also consented to our signing the Statement of Truth on your behalf. I am obliged to make you aware that if you have approved the CNF without an honest belief in the contents of the document, you may be liable for contempt of court. I will be in touch as soon as I have a response from the other driver’s insurers.
All the bold, a complete work of fiction....:rolleyes:
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I'm willing to bet money that the response was AI generated. I recently had a product warranty claim denied initially. I became unhinged(even more so than usual) and sent a scathing reply, which unexpectedly was read by a human. A couple days later my claim was granted, replacement product sent.
 
Remember the Hit Guy that kilt the Health Ins CEO.

Our Auto insurance is over $3 grand, 2 - F150's and an SUV. The'll tell me its because they have to settle out of court.
I haven't ever put in a claim. They think I'm a Pidgeon? ... :coffee: ...
 
I’m confused, is the premium $1,440.00 or did the premium increase by $1,440.00. 🤔

It sounds like a lot of money but it’s protecting against the loss of 300-350k property.

I’m not so sure that shopping for the lowest price is the best idea.

Many years ago, I was paying about $550.00/yr on a property worth about $55,000.00 or approximately 1% of the property value.
 
Don’t just look at what they’re charging, check out their record of paying out claims. One company we looked at seemed good until reading the very fine print. They used those clauses to deny or limit payments.
 
I remember when at one time I was with Farmers insurance and I paid about $461 one year for insurance that's a 6-month term. I got back over $300 because the claims were way less than what they expected that 6 months.

However on the next 6 month policy it was damn near double because they had had a lot of claims and so they spread out over the group and everybody pays out on the insurance.

I don't know if they do the same with house insurance but I dropped them it's like I'd rather have a steady amount and have an unlikely chance to get anything back, then pay more because the claims were so high.
 
Trade said:
Both my homeowners and auto keep going up every year even though I never have any claims. :mad:
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Same here. And yesterday the county tax assessors came by to update their records on my home. I had to do a renovation last year because it was necessary (due to rotting wood) not because I wanted to just spend money. A permit was required for the work (which was obtained) and that alerted the county that it's time to raise Leann's taxes. So in addition to my auto and home insurance rates going up every year just because, now my taxes will be joining them.
 
Imogene said:
My homeowners has literally tripled since 2003 and I have never had a claim.

I added replacement cost on all the buildings 5-6 years ago, so that cost a pretty penny.

I had to raise the deductible to $2,000 and I am still paying enough of a premium to choke a Clydesdale.

My HO premium has passed up my RE taxes by a good margin. Thankfully I am in an Ag county and I have enough acreage to be on the Green Belt, which helps a lot. The hay that comes off one section is decent enough for the neighbor’s cattle.

Life is balancing act whether we own our proper or we rent and the rent keeps going up 🤯🤯
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My homeowners insurance has tripled in the past 3 years without any claim from me. Part of the icrease is due to home prices rising every year, part due to more claims in recent years from hail, floods, etc. - and some companies don't even offer a 1% deductible anymore. Mine does, but I know of some that went to 2%, and just watch them raise that in time to 3%, or even 5%.

Mortgage companies may not accept policies where inviduals have increasing deductibles if those homeowners don't have proof of their ability to pay their portion of a claim.
 

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