So State Farm had a mandatory increase on H.O. deductible for IL

[Sadie22]

I have been with State Farm for many years and have most of my insurance through them. With the multi-policy, multi-car, good student, longevity, etc. discounts, they are the most economical for us.

When you compare prices on a website or talk to different agents or brokers, make sure you are comparing apples to apples. Many people insure their homes based on the value of the house and land, when what you need is to be able to replace your house and contents, not the land, at current code, etc. You would need loss-of-use coverage as well. It can cost less to pay annually rather than monthly. Rates are different for auto coverage based on car make and model, age, risk calculation for that geographical area, and so on, as well as age of driver(s), so we can't really compare our rates with some other family's rates.

 

[angwill]

Thanks, I am in Illinois too and my last policy was up in August when we were in the process of having our agent replaced in our State Farm office. I called just now and they did increase it to $1000 on us last August and didn't tell us. I asked about it and they said it was an increase for all State Farm policy holders to $1000 deductible with no way to even pay for $500 which she claims is no longer available to anyone. Our policy went down $28 a month. Sadly, we have all our insurance with them and about 2 years ago we priced policies with other companies we couldn't find anyone who could offer us lower prices than what we get with State Farm on any of our policies. Maybe we need to look again now. Then again if we can get someone to buy our house that has been on the market for a year now we will be moving and can do it on our new house in a new state.

Thanks for the heads up FINFAN.

 

[angwill]

We had the same thing happen here in MD. They automatically increased the deductible to $1,000 and 'allowed you to buy back' the lower deductible of $500. We originally had a $250 deductible and that was totally eliminated!but the price difference for the $500 deductible was nuts!! and on top of that, you really only want to put a claim into your H.O. policy if it is substanial since insurance companies are really 'reunderwriting' their books of business and dropping 'hazards'. Too many small claims will clearly work against you in getting you cancelled and possibly making it difficult to find a replacement company.
It stinks the way that it works, but it is the way of the insurance world....
I remember when I used to get a dividend check from State Farm because claims were lower than anticpated and they refunded us part of our auto policy premium. Boy aren't those days long gone...LOL...

I have been with state farm for 25 years so I remember the dividend checks too. Those were the days.