Just got home ins. bill...went up $254.00..shopping for new coverage, who is good??

Discussion in 'Budget Board' started by jrnunzio3, Mar 8, 2011.

  1. jrnunzio3

    jrnunzio3 DIS Veteran

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    Hi all,
    I just got my homeowners insurance bill and it went up $254.00 from last year. I did end up having a claim on it (for my lost diamond on my engagement ring for $2700). I understand that it would go up, I just didn't think it would go up that much for a (in my opinion) small claim. I really had to jump through hoops to get that much from them.

    I want to shop around, but who is a good insurance company??? I want to get my car and home together. Any suggestions??
     
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  3. sam_gordon

    sam_gordon DIS Veteran

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    Let's see... $254/year = $21/month = $5/week. IMO, that's not really a large increase.

    That being said, we've had Nationwide for car & home for decades and haven't had issues (no home owners claims, a number of car claims).
     
  4. dvcgirl

    dvcgirl DIS Veteran

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    We just switched from Allstate to Amica. We've been with Allstate for years...but after researching ratings on insurance company and hearing Clark Howard recommend Amica as one of the best insurers for years.....we switched.

    We've got old and older cars....14 and 8 years old. And we've never filed a claim....and our insurance bill went *down* with Amica. Plus, the new policy includes a towing package and windshield replacemement..... We went from $1,600 a year for both cars to below $1,300.

    We're in the process of switching homeowners as well, so I don't have the final number yet.
     
  5. jrnunzio3

    jrnunzio3 DIS Veteran

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    I just figured it out and that $254.00 represents a 39% increase in premium. I guess that I should have put that in my original post.

    Thanks for the suggestions. I am going to check into them when I get home from work today.
     
  6. ancestry

    ancestry Trees Without Roots Fall Over

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    See if they have increased their estimates to rebuild your house in the event of a total disaster. Home insurance doesn't equal your mortgage amount but rather has to equal what they view the cost would be to rebuild your house.

    We are with State Farm and every couple of years they try to increase what they think it would cost to rebuild our house should it be completely destroyed. That rebuild amount is what drives the premium. We always end up arguing with them that their rebuild amount is usually ridiculous (my husband has a degree in construction management and and usually shows them that their calculations are crazy). Once they adjust that rebuild amount to a reasonable amount then the premium comes back down.

    I'm willing to bet that the increase is more due to them recalculating your rebuild amount than it is due to you having a claim from a lost diamond.
     
  7. jrnunzio3

    jrnunzio3 DIS Veteran

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    I did call them and they told me that "no" this was not the reason for the increase (as my coverage amounts all went up), they said that was due to inflation and had nothing to do with my increase in premiums. I will be looking into this more later on today. Thanks for the response.
     
  8. scrapquitler

    scrapquitler DIS Veteran

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    Look carefully at the renewal paperwork before you panic. Each year my insurance increases somewhat, but the dollar value of the policy also goes up. So this year, they might have recalculated the replacement cost of the house and contents as $200K, but next year when the policy price increased, the replacement cost for hosue and contents covered might be $210K. So keep that in mind when you are looking at the price going up.
     
  9. okeydokey

    okeydokey Frosty the Snowman scared me as a child.

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    My homeowners in FL just went from 1400 to 1800, so I went with a different carrier. It's security first.
     
  10. elcodfish

    elcodfish Mouseketeer

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    Last summer I switched from Allstate to Nationwide because they tried to increase my insurance by $500 (no claims) and when I called to ask why, they said "Cause things go up" and that I should stay with them because they have the best prices. I called nationwide and paid $200 LESS than I was paying Allstate and have more coverage. Just cold call a few places, it will take you 10 to 15 minutes but it is worth it!
     
  11. Muushka

    Muushka <font color=red>I usually feel like I just stepped

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    Amica.:thumbsup2 We have had them since 1978. Great company.
     
  12. Anthony1971

    Anthony1971 DIS Veteran

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    All home owners insurance went up this year as a lot of people are putting in claims..... so we all pay
    and if you put in a claim you loose your no claim discount which can be over 100 a year in itself
     
  13. richard96

    richard96 Earning My Ears

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    In my experience it is cheaper getting quotes online. Some of the bigger companies offer discounts when ordering online, because it is less work for them. But to be safe you could compare quotes online, pick the best offer and try a local agency to see if they can match it or do better.

    I recommend this site for online comparing:
    quotes-center.com/home-insurance-calculator
     
  14. DebMcDonald

    DebMcDonald DIS Veteran

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    Amica, Amica, Amica!!!!! Have had them since I was 16, I am actually 3rd generation, soon to be fourth as my daughter will soon be joining. Have been sued once for a injury claim have had some car accidents over the years and could not be more satisifed.
     
  15. my3sonsagn

    my3sonsagn DIS Veteran

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    Add me to the Amica "side"!
     
  16. tonums

    tonums Earning My Ears

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    you guys still have choices in N Fl.? I live in sinkhole central and we pretty much only have citizens. I was terrified to open my renewal notice this year, but was pleased that it only went up like $160 to 1400something.
     
  17. gracie1

    gracie1 DIS Veteran

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    I have Statefarm Insurance and love them. Never had a problem with them fluctuating but maybe less than $20 a year. Normally it will increase one year, then go down the following year.
     
  18. Swimalie

    Swimalie DIS Veteran

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    Do you have access to USAA? If so, check in to them. My policy for my homeowners is full coverage, plus riders on extras plus other extras and we only pay $385 a year. We also have our auto with them (2 cars, one 10 and one 9 years old) and pay around $600 a year. No claims on either home or auto, highest deductible possible and I won't make a claim on anything unless it's way more than $5000.
     
  19. Stitch76

    Stitch76 Mouseketeer

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    We saved $2000, yes I said $2000 a year by switching to Liberty Mutual (online). We already had Liberty Mutual through a local insurance agent, and was paying nearly $3000 a year on our house (it's a log cabin which a lot of insurance companies won't even touch).
    I was playing around one day on MyPoints and requested some insurance quotes to get some points. I was floored when I got the Liberty Mutual quote back. I called them and told them that we had Liberty Mutual already, but was paying much higher premiums. The agent explained to me that if I went directly through them, instead of through a third party, we could save a lot more. We changed our home owners immediately, and then changed our auto policys (saved around $500 a year on them as well). The only difference is if we have a claim, we must deal with an agent approx 90 miles from us, in Louisville, instead of in our hometown, but for that much difference who cares!
    I have told lots of people about this, and several have switched, and each one has at least, cut their premiums in half or more, by doing this!
     
  20. yrdlyprincess

    yrdlyprincess DIS Veteran

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    WOW...I have certainly been schooled on this subject now....we have had state farm for yrs with our auto,home, and life...today DH had an accident (he totaled the car...not confirmed yet...but he did) we havent had claims in the past (never with home) this will be the 1st for him for auto ...i will have to look into this...hard!
     
  21. jrnunzio3

    jrnunzio3 DIS Veteran

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    Hope your DH is OK.
     

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