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Re: Home insurance just jumped 700
[Re: Driveby]
#4283786
02/10/25 12:22 PM
02/10/25 12:22 PM
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Joined: Nov 2014
Posts: 13,846
Montgomery, Alabama
jaredhunts
Puts sugar in his cornbread!
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Puts sugar in his cornbread!
Joined: Nov 2014
Posts: 13,846
Montgomery, Alabama
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I told yall everybody was going to get their Palisades surcharge. Insurance is the debil. How many homes do you reckon Alfa had insured there? Don’t matter. We all pitch in.
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Re: Home insurance just jumped 700
[Re: 000buck]
#4283810
02/10/25 01:13 PM
02/10/25 01:13 PM
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Joined: Feb 2017
Posts: 1,748
FL-AL
Scout308
8 point
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8 point
Joined: Feb 2017
Posts: 1,748
FL-AL
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I built my 1800sft house and 1200sft shop for $160,000 and Alfa insured it them for $360,000. As of now I’m paying $960 a year for coverage. It may go up when it’s time to pay again. But Alfa has done me well in my lifetime. $960.00 is cheap!
"America First! Nothing Else Matters"
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Re: Home insurance just jumped 700
[Re: Scout308]
#4283852
02/10/25 02:37 PM
02/10/25 02:37 PM
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Joined: Dec 2022
Posts: 760
Behind some dogs
000buck
4 point
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4 point
Joined: Dec 2022
Posts: 760
Behind some dogs
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I built my 1800sft house and 1200sft shop for $160,000 and Alfa insured it them for $360,000. As of now I’m paying $960 a year for coverage. It may go up when it’s time to pay again. But Alfa has done me well in my lifetime. $960.00 is cheap! I just finished the house last fall. So it being all new is one reason it’s cheaper. Or per say my agent.
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Re: Home insurance just jumped 700
[Re: 300gr]
#4283881
02/10/25 03:44 PM
02/10/25 03:44 PM
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Joined: Jan 2005
Posts: 1,986
Tuscaloosa
Thisldu
8 point
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8 point
Joined: Jan 2005
Posts: 1,986
Tuscaloosa
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It's industry wide. Problem is, it's not done increasing. It's only going to get worse. Commercial property insurance is even worse.
I feel bad for first time homebuyers these days. Between interest rates, high homeowners insurance, and inflation over the past few years, it's out of reach for many.
Pay attention to your roof loss settlement provision in your policy. Insurers are all slowly moving towards not paying replacement cost on roofs. A lot of folks don't even know it's on there.
"The future's uncertain and the end is always near"
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Re: Home insurance just jumped 700
[Re: 300gr]
#4283903
02/10/25 04:27 PM
02/10/25 04:27 PM
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Joined: Aug 2006
Posts: 9,588
Andalusia, Covington County, A...
TexasHuntress
14 point
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14 point
Joined: Aug 2006
Posts: 9,588
Andalusia, Covington County, A...
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When we built our shop and added it to our homeowners, the premium increased as was expected. It was added to the policy in 2023.
I just went to our USAA account to compare a current homeowner's policy that ends March 6th with the upcoming policy for the following 12 months.
The current one prior to savings is $8,019.91 with discounts and savings at $4,371.08 leaving our premium at $3,648.83 for the year.
The next one prior to savings is $9,736.75 with discounts and savings at $5,297.39 leaving our premium at $4,439.36.
We have our auto insurance and a banking product with them which contributes to some of the discount.
But, that is still a $1,716.84 increase from last year before the discounts and $790.53 over the amount we actually will have paid for the current policy.
While I am not happy about the increase, I am very happy to be getting the discounts and savings that we are!
If you live to be a hundred, I want to live to be a hundred minus one day, so I never have to live without you.---Winnie the Pooh
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Re: Home insurance just jumped 700
[Re: 300gr]
#4283912
02/10/25 04:39 PM
02/10/25 04:39 PM
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Joined: Jan 2007
Posts: 14,278
Hoover
burbank
Booner
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Booner
Joined: Jan 2007
Posts: 14,278
Hoover
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It’s in every line, commercial and personal lines.
Homeowners is just a tough pace to make money for carriers. Material costs are up and labor costs are up…not to mention the lawyers and fraud.
Last edited by burbank; 02/10/25 04:40 PM.
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Re: Home insurance just jumped 700
[Re: 300gr]
#4283997
02/10/25 07:26 PM
02/10/25 07:26 PM
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Joined: Feb 2007
Posts: 22,129
colbert county
cartervj
Freak of Nature
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Freak of Nature
Joined: Feb 2007
Posts: 22,129
colbert county
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It’s all based on inflation. I’ve heard inflation mentioned as a tax and kinda makes sense.
“Socialism only works in two places: Heaven where they don't need it and hell where they already have it.” ― Ronald Reagan
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