Homeowner's Insurance?

[Shadowrider]

That's the thing. Liberty Mutual came in way low for our homeowners and auto, but it's been steady increases every renewal. And they've been substantial. My first HO with them about 4 years ago was around $1750 for $215k full replacement. It's now almost $3000. And I just had a roof claim (that they handled very well) but I'm up for another renewal in June and I bet it'll be well over $3000.

And we've done all we can to keep our auto rates down (like adjusting deductibles and doing the Right Track monitoring) which reduces the premium, or at least keeps it the same. And now my auto renewal is going right back up another $400. So frustrating.


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Same exact experience here. I'm with LM and I'm paying $3500 for $159k when I was paying under $1700 for a slightly lower replacement cost number 3 or 4 years ago. Auto policies have similarly risen. One small claim on the wife's car and that's it. I autodraft the payment every month so it's kinda hard to realize how much it goes up over time when you don't watch it like a hawk.

I'm getting quotes this week, my sister was also with them and Safeco saved her a bunch when she switched hers over just last week. I'm thinking it's best to shop every 2 years. It appears to me that customer loyalty means nothing to any of them.

 

[n423]

That's the thing. Liberty Mutual came in way low for our homeowners and auto, but it's been steady increases every renewal. And they've been substantial. My first HO with them about 4 years ago was around $1750 for $215k full replacement. It's now almost $3000. And I just had a roof claim (that they handled very well) but I'm up for another renewal in June and I bet it'll be well over $3000.

And we've done all we can to keep our auto rates down (like adjusting deductibles and doing the Right Track monitoring) which reduces the premium, or at least keeps it the same. And now my auto renewal is going right back up another $400. So frustrating.


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Same here, 4 years ago it was a great rate for home and autos. Now, it jumps a lot every year with LM. No claims have been filed...

 

[cowzrul]

Aren't you eligible for USAA? I have used them for insurance for over 25 years and they have always took care of me. Lately I haven't used the banking services because many places beat their rates.

 

[ranchking]

Has anyone ever considered just self insuring their property? I own 14 rental homes and just started working out the details on possibly looking at this option.. It may be rolling the dice but after just a few years of NOT paying the inflated premiums you have saved enough to cover a total loss on 1 property. Of course you guys in the tornado alley area wouldn't want to do this as you may lose multiple properties in a single day.....

 

[FullAuto]

Has anyone ever considered just self insuring their property? I own 14 rental homes and just started working out the details on possibly looking at this option.. It may be rolling the dice but after just a few years of NOT paying the inflated premiums you have saved enough to cover a total loss on 1 property. Of course you guys in the tornado alley area wouldn't want to do this as you may lose multiple properties in a single day.....

I know someone that does it but he didn't start doing it until his annual premiums reached the cost of his average rental. He owned around 90 the last time I asked. With 14, I'd still be paying the premiums.

 

[dc4ou]

Look closely at AAA, They were not offering full replacement on roofs when I looked at them.

 

[JD8]

Has anyone ever considered just self insuring their property? I own 14 rental homes and just started working out the details on possibly looking at this option.. It may be rolling the dice but after just a few years of NOT paying the inflated premiums you have saved enough to cover a total loss on 1 property. Of course you guys in the tornado alley area wouldn't want to do this as you may lose multiple properties in a single day.....

I have a client that does this... he's got well over 100 with a few apt complexes. I think it makes sense BUT he bitched up a storm when one of his burned to the ground....$175,000 loss.

 

[FullAuto]

Look closely at AAA, They were not offering full replacement on roofs when I looked at them.

That's typical. Most have betterment taken even on replacement policies.

 

[Shadowrider]

Safeco came in with slightly more coverage values at HALF the cost of Liberty Mutual. Like a previous poster said Safeco is owned by Liberty Mutual. I don't get it but I wrote the policies. Auto was a little higher but together I'm still well over $1000 to the better.

 

[dennishoddy]

Safeco came in with slightly more coverage values at HALF the cost of Liberty Mutual. Like a previous poster said Safeco is owned by Liberty Mutual. I don't get it but I wrote the policies. Auto was a little higher but together I'm still well over $1000 to the better.

Liberty Mutual has to be high. My God they do a hundred TV commercials a day. Thanks for the record feature where I can speed by them.