Holy moly!! No claims at all. Annual policy. Homeowners from $2,200 to $3,200. Auto from 3,400 to $5,100!

Insanity .

I was w Germania. 100% increase on home, 50% on autos. No longer w Germania.

My commercial package on my former office went from just over $3,000 to just over $5,000. Ashamed to say that when I was working, I never paid much attention to the coverages and just paid the invoice. Now that my cash flow has dropped, that changed!

Went with another company, got rid of a lot of the junk that I didn't need and wound up paying right at $2,800.

+50% is child's play, mine was +110%

My homeowners went from $2300 to $3300 and this upcoming year is $5200

ChoppinDs40 said:

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Holy moly!! No claims at all. Annual policy. Homeowners from $2,200 to $3,200. Auto from 3,400 to $5,100!

Insanity .

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But the important thing to remember is you are $3,300 + $5,200 richer thanks to Bidenomics and wage growth coupled with a roaring economy.

Agreed. Tort reform is needed. Being an attorney was designed to be a profession. Not a capitalist enterprise. Since these law firms are now large financial institutions they need to be held financially liable for all frivolous claims and motions.

Unfortunately AI is about to make all this even worse in the short run.

I would bet the home owner in my area is due to all of the gnarly hail storms we had this season.

Thousands of roofs got replaced up here. I remember there was a week or two where grapefruit size hail was a daily occurrence.

I requoted the auto already and got it to an insignificant increase.

Just nuts.

This is a big reason why: https://www.reuters.com/world/us/us-property-catastrophe-reinsurance-rates-rise-up-50-july-1-report-2023-07-03/

CS78 said:

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2wealfth Man said:

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ChoppinDs40 said:

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Holy moly!! No claims at all. Annual policy. Homeowners from $2,200 to $3,200. Auto from 3,400 to $5,100!

Insanity .

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Lots of issues with all the PI attorneys and inflated claims on the auto side.....the system is broken. Love paying for all of their ads and staff doctors through higher rates.

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For every one $100k medical settlement, I bet there's 100 $15,000 roof claims that didn't actually need it. Thank your neighbor next time you see a new roof going on a 10 year old house.

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There are a lot of homeowners who don't know any better and go by the advice from roofing companies. And the roofing companies work with the adjusters to have things approved.

So if the roof isn't bad, then the adjuster is part of the problem.

not sure that's me? but I know people get them replaced often.

Roofer-fraud aside... if you have serious damage, it does need to be replaced ortherwise you're looking at water damage.

'oustonians don't see the wild ass weather that we do. Harvey aside.

Same thing happened to my daughter. She used the same independent agent I use and they found a policy with SageSure. The new premium was just slightly higher than her previous premium.

CS78 said:

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2wealfth Man said:

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ChoppinDs40 said:

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Holy moly!! No claims at all. Annual policy. Homeowners from $2,200 to $3,200. Auto from 3,400 to $5,100!

Insanity .

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Lots of issues with all the PI attorneys and inflated claims on the auto side.....the system is broken. Love paying for all of their ads and staff doctors through higher rates.

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For every one $100k medical settlement, I bet there's 100 $15,000 roof claims that didn't actually need it. Thank your neighbor next time you see a new roof going on a 10 year old house.

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yep. Our neighborhood had a lot of "hail" damage it seems

It's not going to get better soon.

Rate filings in July included:

USAA CASUALTY INSURANCE COMPANY
Filed: 07/20/2023
Effective (new business): 09/05/2023
Effective (renewal): 10/22/2023
Percent change: 27.7%
Product: Auto Home

So my USAA homeowners policy that has already more than doubled in 4 years is going up another 28%. Won't be long before my insurance is more than my property taxes.

Anyone here know a good insurance agent? Currently at safeco. Used them for over a decade as prices seemed fair but definitely want to shop around.

2022
$1500 Auto $150 umbrella $1600 home

2023
$2800 Auto $250 umbrella $2200 home

2024
?

We can certainly try to help.

rb@best-ins.com
www.bestinsurancetx.com

SteveBott said:

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Auto is just another product. They want to max out their ROI when they can. Jacking up auto insurance works because people just accept the increases more often then shop the deal.

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Or raising premium is needed to pay for increasing claims.

Texas cities in most collisions: Auto Collisions

All Texas cities in the top 50 list include:

• Dallas tied for 1st
• Houston in 8th
• Fort Worth in 15th
• Austin in 17th
• Arlington in 22nd
• San Antonio in 23rd

CS78 said:

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2wealfth Man said:

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ChoppinDs40 said:

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Holy moly!! No claims at all. Annual policy. Homeowners from $2,200 to $3,200. Auto from 3,400 to $5,100!

Insanity .

---

Lots of issues with all the PI attorneys and inflated claims on the auto side.....the system is broken. Love paying for all of their ads and staff doctors through higher rates.

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For every one $100k medical settlement, I bet there's 100 $15,000 roof claims that didn't actually need it. Thank your neighbor next time you see a new roof going on a 10 year old house.

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Might as well because when the roof is "old" the insurance companies jack your rates until it's cheaper to replace it. This is happening to a lot of people. Perfectly good roof, but insurance companies increase rates so much it's cheaper to replace it than keep it, forcing you to spend on a new roof prematurely. If they're going to do that, might as well have them cover any early replacements you can. Insurance companies are a parasite.

And as for auto-insurance, I could replace one of my vehicles a few times over in the premiums I'm paying over the years. It's be better to self insure if all I had to worry about was the vehicle. Protecting assets from stupid lawsuits, damage to exotic cars, or medical, is the only reason to keep a policy.

Get liability only with higher limits

This is what I don't get. Insurance companies should be pushing back more. Every roofer should not be an insurance specialist and be able to convince every adjustor / company to replace it. A bunch of homes in my hood got replaced after some small hail for a few minutes. This isn't central texas with baseball size hail.

Every policy should also be depreciated cost not replacement cost. It's a depreciating asset with a known lifetime.

2wealfth Man said:

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ChoppinDs40 said:

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Holy moly!! No claims at all. Annual policy. Homeowners from $2,200 to $3,200. Auto from 3,400 to $5,100!

Insanity .

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Lots of issues with all the PI attorneys and inflated claims on the auto side.....the system is broken. Love paying for all of their ads and staff doctors through higher rates.

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Lol thats total horse ***** I am not in that business, but that's pure insurance lobby horse ****

Shop around. Insurance like cable companies. New customers get the better rates.

I lowered coverage on several things that I just didn't need or was fine self-insuring and got rates down a substantial amount. Raising Auto deductibles was probably a good portion as well.

Guessing most people have lots of coverage they are paying for but are fine not having. Little line items add up.

Why would they push back? They just raise their rates, keep the same average profit margin, and make more money over time.

So they can reduce claims, raise rates, and increase profits.

So, which carriers do you own shares of?

haha, fair enough!