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Homeowners Insurance rates up? Edwin Pawlowski 05-15-2007
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Posted by Edwin Pawlowski on May 15, 2007, 10:37 pm
I just got my renewal notice and bill. I've been reading in the new that
rates for all sorts of damage insurance is going up due to recent losses
throughout the country. Some areas it is difficult to even obtain. It went
up 22%. here in CT

I'm going to shop a bit, but I'm wondering if others have seen that type of
increase. Damn, 41+ years and never claim. Should I bitch about the
increase of be happy it was not more?



Posted by MiamiCuse on May 15, 2007, 11:33 pm
> I just got my renewal notice and bill. I've been reading in the new that
> rates for all sorts of damage insurance is going up due to recent losses
> throughout the country. Some areas it is difficult to even obtain. It went
> up 22%. here in CT
>
> I'm going to shop a bit, but I'm wondering if others have seen that type of
> increase. Damn, 41+ years and never claim. Should I bitch about the
> increase of be happy it was not more?


Yes south Florida is going through the roof. HO Insurance, Wind storm
both. Double, triple even. Thanks to Wilma and Francis.

MC


Posted by on May 17, 2007, 4:31 pm
Ad well it should!!!!! Those living in areas prone to floods,
hurricanes, tropical storms etc need to either move or step up and pay
more. My HO insurance went up in NJ and I never made a claim and live
in an area not prone to any damage. The foos who live in flood zones
need to pay up. Why should those smart enough to live in areas not
likely to suffer hurricanes etc pick up tab for their stupidity.


> > Yes south Florida is going through the roof. HO Insurance, Wind storm
> both. Double, triple even. Thanks to Wilma and Francis.
>
> MC



Posted by John Gilmer on May 16, 2007, 5:08 am


> I'm going to shop a bit, but I'm wondering if others have seen that type
of
> increase. Damn, 41+ years and never claim. Should I bitch about the
> increase of be happy it was not more?

Part of the reason for the increase (aside from claims and possible claims)
is that the replacement cost of your home keeps going up.

If the value of your home has doubled in the past 5/10 years, it's not
unreasonable for the cost of insurance to go up quite a bit even if it
doesn't double.

>
>



Posted by Colbyt on May 16, 2007, 9:52 pm

>I just got my renewal notice and bill. I've been reading in the new that
>rates for all sorts of damage insurance is going up due to recent losses
>throughout the country. Some areas it is difficult to even obtain. It
>went up 22%. here in CT
>
> I'm going to shop a bit, but I'm wondering if others have seen that type
> of increase. Damn, 41+ years and never claim. Should I bitch about the
> increase of be happy it was not more?
>

Shop and confirm but I think you are inline with the rest of us.

I am seeing at least a 20% increase in most building materials here compared
to a year ago.

Colbyt



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