Huge homeowner's insurance increases

[Shran]

Anyone else's homeowner's insurance policy up for renewal lately? I just got mine and about had a stroke. It was $1644 last year, and that was up from $800 when I bought my house in '15 so I thought it was bad enough... my new rate for '24 is $3378!!!!!

I just can't believe it. I asked my agent for quotes from other companies - they work with a bunch of them and have no preference - she said they have been swamped with my type of request, apparently a lot of the insurance companies have dropped huge increases on their customers this year so it sounds like everyone is looking for something cheaper.

Farmers is who I have now, FWIW. I had AAA before that and they were terrible to deal with, I will never go back to either of those companies.

 

[sgtsandman]

Anyone else's homeowner's insurance policy up for renewal lately? I just got mine and about had a stroke. It was $1644 last year, and that was up from $800 when I bought my house in '15 so I thought it was bad enough... my new rate for '24 is $3378!!!!!

I just can't believe it. I asked my agent for quotes from other companies - they work with a bunch of them and have no preference - she said they have been swamped with my type of request, apparently a lot of the insurance companies have dropped huge increases on their customers this year so it sounds like everyone is looking for something cheaper.

Farmers is who I have now, FWIW. I had AAA before that and they were terrible to deal with, I will never go back to either of those companies.

Not yet but the year is young. The county just did a big property tax increase for this year.

And I agree about AAA. I was a premeir member with them for years and they left me hanging when my trailer needed towed. They were never all that great to work with for other things either. Needless to say, I'm no longer a member.

 

[Shran]

We are getting ass raped on property tax too. I bought my house for $113k in 2015 and now the county thinks that it is worth 240k... My taxes were about $1200/year then and are now over $2100. My grandparents land in the same county, different city was always about $6000/year and it went up to $8000/year this year. Ridiculous for 20 acres with two mobile homes on it and no other improvements.

Fawking blue state migrants moving here are really hurting us. My family has been in the area for 5 generations now and it is really disheartening to hear my parents talk about needing to sell my grandparents land because the taxes are unaffordable.

 

[sgtsandman]

We are getting ass raped on property tax too. I bought my house for $113k in 2015 and now the county thinks that it is worth 240k... My taxes were about $1200/year then and are now over $2100. My grandparents land in the same county, different city was always about $6000/year and it went up to $8000/year this year. Ridiculous for 20 acres with two mobile homes on it and no other improvements.

Fawking blue state migrants moving here are really hurting us. My family has been in the area for 5 generations now and it is really disheartening to hear my parents talk about needing to sell my grandparents land because the taxes are unaffordable.

I never understood those people. The move out of state to where it's way better and vote and pitch a fit to have the very same things they moved away from implemented in their new state. PA is doing a bang up job of driving people away and doing the same crap that is proven to not be working in other states. The way things get done here was so backward to begin with and they just insist on making it worse!

 

[RobbieD]

Eff it. I think that I'll just move to Katmandu.

I'm tired of looking at the TV news
I'm tired of driving hard and paying dues
I figure, baby, I've got nothing to lose
I'm tired of being blue

That's why I'm going to Katmandu
Up to the mountains where I'm going to
If I ever get out of here
That's what I'm gonna do


. . . just as soon as I get new tires on the Exploder.

 

[85_Ranger4x4]

County tax appraiser deemed my place is worth more so then the insurance co fell all over themselves getting an adjuster out.

Between the two of those clowns my mortgage went from $400/mo to $500/mo

And on a related note one of my sheds is in so good of shape insurance decided during their appraisal I need to get it knocked down by October next year.

But don't forget its worth more!

 

[Shran]

My mortgage was $760/mo when I bought my house. It crept up to $920 as of now... I'm guessing it will be about $1100 after this years taxes and IF I have no other choice than to keep Farmers. That is the dirty little secret about buying a house... they never tell you that your mortgage payments could damn near double in 9 years.

 

[Fast Eddie]

Fawking blue state migrants moving here are really hurting us. My family has been in the area for 5 generations now and it is really disheartening to hear my parents talk about needing to sell my grandparents land because the taxes are unaffordable.

I have a meme addressing this very thing but blue state Mods would have my ass in heartbeat

 

[fastpakr]

I have a meme addressing this very thing but blue state Mods would have my ass in heartbeat

You're confused. Again.

Somehow you think because we prefer to minimize politics on the site that it's an issue between red state or blue state.

It's a truck forum. Focusing on that keeps the drama to a minimum.

 

[85_Ranger4x4]

I have a meme addressing this very thing but blue state Mods would have my ass in heartbeat

 

[gw33gp]

What does insurance have to do with Mortgage? Is your insurance paid through the Mortgage?

I am fortunate that my house is paid off, but I still have property tax to deal with. One good thing about CA is the property tax is limited to a maximum of 2% increase per year. I have owned my home since 1980 so the rate is reasonable.

My insurance co. is USAA and I have been with them a long time. So far, their rates have been reasonable. I know they are not taking on new homeowner customers in CA though because of all the fire claims. The few claims I have had with them were not a problem at all, but they were on my vehicles.

 

[85_Ranger4x4]

What does insurance have to do with Mortgage? Is your insurance paid through the Mortgage?

Some mortgages have property tax and insurance included in the mortgage payment via escrow.

Basically so they can protect their asset by knowing for sure the taxes get paid and it is insured how they want it insured. You can pick your insurance but it has to meet the lenders requirements.

 

[rusty ol ranger]

My assesed value went up like 800 bucks,

I need to park more shit on my lawn

 

[Shran]

Taxes/PMI/homeowners insurance is all paid through escrow until the house is paid off. Thus if your taxes or insurance dollar amount changes, so does your mortgage payment.

I apologize for the blue state rant but you must understand, these people come here and brag about how they sold a house in CA for $1.5mil, bought one here for $300k and now they have a fat savings account to retire on. I work with the public a lot, I hear this stuff straight from the horses's mouth...it's not some stupid hearsay anecdote. People have the right to move & live where they choose, never would I try to change that but something has to give. I'm pretty fortunate financially that I can afford this nonsense so far but a lot of people can't... where are people supposed to live if they can't afford to live anywhere?

 

[ekrampitzjr]

It's not just home insurance. Vehicle insurance is shooting up too. Insurance for my Ranger went up 30% last year and another 5% just last month. (Six–month payments)