Fire anyone who can't differentiate between sale and sell
randy828 said:
Wow, I was feeling ticked off until I searched and found this thread. My homeowners insurance is increasing a little over 14% . I am with State Farm and I bundle my two cars with them also. Been with my agent (who is the dad of one of my best friend) for car insurance since I could drive in 1986 and always had either home or renter's insurance with him since about 1996.
Guess after reading this and the response I got from his office, they are in line with what you guys are saying...so I guess I might stay put and take it in the arse again.
FYI -Quote:
Hope you and family are doing well. I wanted to address our recent rate increases. Inflation and claims have heavily hit the auto and home insurance industry. In the past, a windshield could be replaced for $300. Now with the electronics in windshields, replacement cost is $3200. What use to be a $2500 collision claim is now $7000. To replace a totaled $20,000 vehicle is $29,000. The same increases apply to homes. Also, the reinsurance industry has left Texas and many other states. This has caused all companies to rely on their liquid cash flow to meet required reserves for claims or lose their license to operate. This has caused many small insurance companies to stop writing new business and non-renew a percentage of their book of business just to meet financial requirements to the insurance commission. These companies didn't have the require dollars to pay claims. By June of 2024, I think it will be difficult for a person to get an auto or home policy with proper coverages. The high risk auto companies will only sale minimum liability limits of 30/60/25 which means a major at fault claim could be a financial disaster.
State Farm is financially strong, but steps are being taken to protect our policyholders and ensure them we will be able to meet their insurance needs. We have stop writing business in certain areas of Texas. A domino effect has started as other companies are doing the same.
As you know, It's not just the insurance industry that's being effected by inflation. Unless inflation can be stopped, you will see a continuance of rate increases in the insurance industry, no matter which company is in business.
Quote:
I'm dead serious that I may not be able to afford to live in this house within the next couple of years between insurance and taxes
Holy cow! Mine is 26 years old and we go hammered by the hail storm last week. I just submitted my insurance claim. You should have seen our subdivision on Friday morning...I had 4 roofing companies knock on my door by 10am...I put a sign out saying please do not disturb. 3 more walked up to my while I was cleaning debris from my driveway at noon. It was crazy.redag06 said:
A coworker was shopping after his 50% increase to homeowners, and was told there are companies that aren't insuring any roofs older than TEN years.
So much for Houston being affordable.
CDUB98 said:
Not meaning to step on Eric and Goosehead, but another group I'm in suggested Chubb for people that are a bit higher on the asset scale. I haven't looked into myself as a LOLpoor.
You're around the corner from me - my current policy holder is bailing on TX and the best my agent can find is a 25% increase...that includes an increase in my wind/hail from 2% to 5%.aTm2004 said:
Jesus. My homeowners went up almost 57%. How in the eff? With Goosehead, but not tied to them. Between insurance and taxes, it won't be long I can't afford to live in my house.
Any suggestions on a reasonable company or agent to today with? I'm in Harris County.
redag06 said:
A coworker was shopping after his 50% increase to homeowners, and was told there are companies that aren't insuring any roofs older than TEN years.
So much for Houston being affordable.
YOU WERE THE ONE HANDLING MY RENEWAL! You should probably just sit this one out.EricJones75 said:
I'm sorry that your experience with your previous agent did not meet your expectations. I can assure you that is not how I run my business nor a direct reflection of our company. Please let me know if there's anything I can do to be a resource for you.
I've never lived in Dallas so no personal experience. But I've gotten into semi-arguments with posters from North Texas for making claims like "if your roof is over 3 years old you aren't trying hard enough" with the exact reasoning of driving all insurance costs up.Aggie71013 said:
I grew up in Dallas and we never once had a hail claim on our roof. Either we got lucky or you've called our why carriers are leaving and won't insure roofs over 10 years.
It doesn't hail that much there nor massive hail. Pea size hail and the roofers are getting new roofs approved.
let me guess- Cole Martin?? Yeah don't expect a response from that guy either. Sensing a theme??LPHA said:
Is Cole still with Goosehead? I'm still waiting on a response from my Jan. 5 email. Which was a follow up to my 12/6 email.
I'm guessing not responding is their business model. I bought a new car last year and went to get it put on my insurance, but could never get ahold of the agent. I called and left multiple voicemails on top of multiple emails. I went online and saw a place to add the vehicle, so I did and thought I was good. It never got out of pending, so after a couple of weeks, I started calling and emailing again and never gone a single response.71 jock said:
Good luck getting Eric or Goosehead to respond to you come renewal time. I would strongly advise anyone to NOT use them. Embarrassingly bad.
htxag09 said:
I liked Casey and Grace. That said, I'm still transitioning away because their fee to shop around is dumb when nobody else charges it. I still have auto with them and Grace and/or their customer support have always been fine when I needed them. For example, recently moved and no issue having them revise the address on the auto policy with one email.