Budget Buster...cancelled home owners!

[JoiseyMom]

Sigh, we knew it was coming. Thanks Irene and Sandy! I kinda feel sorry for the insurance company, I had been with a previous one for about 16 years, and no claims. We switched to this one in 2009 to save some money and we had a small claim in 2009, our first ever due to sump pump failure. Then we got hit by Irene and without power our basement flooded. They got off easy on that one, since our coverage is capped, so we had 20k in damages not covered. Then good ole Sandy and my new roof..and odds and ends from her. Then we found a slow leak from our downstairs bathroom, must have been leaking for years...well it finally made it through the floor and down to the basement ceiling. We caught it down there immediately, but we had lovely mold clean up and now need a new floor and vanity in the bathroom. Owning a house can really bite at times!

So now I am hoping to get a new policy that won't break the bank!

Fun times!

 

[leebee]

Good luck finding a new policy!

 

[wishesuponastar]

So sorry for your damages not being totally covered.

 

[Chelley00]

Ugh. State Farm dropped us after a small hail claim and then a kitchen fire claim. We had a hard time finding anyone else to cover us. It was maddening. Progressive ended up being one of the few that would even quote us, and their policy wasn't any more than State Farm had been.

Good luck!

 

[ForMyBoys]

20k from a sump pump failure!!! Wow that stinks.

I've never heard about not being able to get HOI coverage. What happens if no one will cover you? When you have a mortgage isn't it required?

 

[Derby4me]

20k from a sump pump failure!!! Wow that stinks.

I've never heard about not being able to get HOI coverage. What happens if no one will cover you? When you have a mortgage isn't it required?

If you can not/ do not obtain home owners insurance, the bank will do it for you at a premium.

Sorry to hear about your insurance troubles. We have had great luck with insurance through AAA. You may want to give them a call. Good luck!

 

[bpesch]

I can tell you many horror stories about homeowners insurance on the Gulf Coast after Katrina. We had a total loss and fought the insurance company for more than two years. It will wear you down and we finally settled just to have it over with.

I am seriously biased when it comes to insurance. It's almost eight years since Katrina and I still can't talk about it without getting emotional. We ended up moving about 35 miles north and couldn't even find insurance for our new house at first. We now have State Farm and the rates get worse and worse every year. This past year we were hit with a 15% rate hike and I don't see it getting any better anytime soon.

Yeah, you could say I'm not a fan of insurance companies.

 

[JoiseyMom]

20k from a sump pump failure!!! Wow that stinks.

I've never heard about not being able to get HOI coverage. What happens if no one will cover you? When you have a mortgage isn't it required?

It was over 30k in damages, from Hurricane Irene. No sump pump, all that rain, and bye bye finished basement . It was horrible..but not as bad as it was for ppl with Sandy.

We did go out and buy a generator, so we had power during Sandy to make sure no more water!!

 

[JoiseyMom]

If you can not/ do not obtain home owners insurance, the bank will do it for you at a premium.

Sorry to hear about your insurance troubles. We have had great luck with insurance through AAA. You may want to give them a call. Good luck!

Well as soon as I got the mail, I contacted our Insurance agent. I am going to reach out to other companies also. We have a company we want to go back to, I just hope they will take us. We never had any claims with them, so we shall see.

I am hoping that now that we have a generator, and a brand new roof (with an awesome warranty) that we should be covered.. LOL.

 

[tvguy]

I can tell you many horror stories about homeowners insurance on the Gulf Coast after Katrina. We had a total loss and fought the insurance company for more than two years. It will wear you down and we finally settled just to have it over with.

I am seriously biased when it comes to insurance. It's almost eight years since Katrina and I still can't talk about it without getting emotional. We ended up moving about 35 miles north and couldn't even find insurance for our new house at first. We now have State Farm and the rates get worse and worse every year. This past year we were hit with a 15% rate hike and I don't see it getting any better anytime soon.

Yeah, you could say I'm not a fan of insurance companies.

No a huge fan of insurance companies. My wife's step-mother had damage from Rita, roof ripped off. What would have been a $5,000 repair before Rita became an $18,000 repair because of a shortage of roofers and materials after the storm. She did have a new roof before electricity was restored 2 1/2 months later.