Surging home insurance costs could force families to leave these 10 states (OK is one)

[DaveinOKC]

I've just been going through this process over the last few weeks. I'm with State Farm and my homeowners went up 25% and my auto went up 6%. When I found that out I was STEAMED to say the least. I've had numerous brokers curving insurance rates for me, and unfortunately, unless I want to seriously do my coverage and/or raise my deductibles, I'm just going to have to bend over and take it. Every other quote has come back now expensive that what I currently have. A couple came back MUCH more expensive.

I f8cking hate insurance.

I am almost afraid to look around. Keep getting mailers from All State promising lower rates, but afraid it is all BS as they are quoting substantially lower rates in their advertisements they are mailing.

David

 

[PBramble]

It's required if you're borrowing money. But you want the government to step in and force a company to provide coverage because of this?

It's interesting how we turn into democrats around here when we don't like something.

so they drop your coverage and now the bank wants the note in full. Not many can afford that, so now they get to go to foreclosure. Seems a little harsh just because your agent didn't like something about the house. But hey, let's put everyone on the street where they belong, right?

 

[JD8]

so they drop your coverage and now the bank wants the note in full. Not many can afford that, so now they get to go to foreclosure. Seems a little harsh just because your agent didn't like something about the house. But hey, let's put everyone on the street where they belong, right?

There's so much wrong here in terms of how things work it's a lot to unpack.

- "They" may drop your coverage, but the beautiful thing is.... you have choices. You may not like them, but you have choices. Otherwise.....Move to Arizona. Property insurance is a fraction there what it is here.
- The bank will typically place coverage for you before proceeding down other pathways.
- Agents have nothing to do with declinations or non-renewals. Especially when we are talking about Personal lines agents like State Farm, AAA, Allstate etc.

Why do you want the government MORE involved in insurance? Do you not see what they've done to medical insurance? Or do you just not care and only what want suits you?

 

[Ripcord]

May neighbor just told me his home insurance premium doubled with Farmers.

They wanted to charge him $6,800 a year.

He changed insurance and saved some money.

I use State Farm and they are no cheaper than the rest. With all these tornados and mounting claims eventually most people will be priced right out of there homes into a cardboard box.

 

[wolfman1]

I use State Farm and they are no cheaper than the rest. With all these tornados and mounting claims eventually most people will be priced right out of there homes into a cardboard box.

Phuc the cardboard box, I've got an nice place on Nancy Pelosi's land to squat on. Or maybe an underpass?

 

[SlugSlinger]

I use State Farm and they are no cheaper than the rest. With all these tornados and mounting claims eventually most people will be priced right out of there homes into a cardboard box.

You are right. Along with property taxes, I am not sure how people will afford a house.

Right now, I’m paying $10,000 a year to live in my house and drive a car. And I don’t owe money on any of it.

 

[golddigger14s]

When I moved out here my old ins company quoted me $6K, then called back and said they wouldn't cover me at all.
USAA covered me for about $4K, and then I went to Humble in Lawton and they got me down to $2K including the barn.

 

[PBramble]

There's so much wrong here in terms of how things work it's a lot to unpack.

- "They" may drop your coverage, but the beautiful thing is.... you have choices. You may not like them, but you have choices. Otherwise.....Move to Arizona. Property insurance is a fraction there what it is here.
- The bank will typically place coverage for you before proceeding down other pathways.
- Agents have nothing to do with declinations or non-renewals. Especially when we are talking about Personal lines agents like State Farm, AAA, Allstate etc.

Why do you want the government MORE involved in insurance? Do you not see what they've done to medical insurance? Or do you just not care and only what want suits you?

the other option then is to make the banks drop the requirement. You can't have it both ways.

 

[Cat City Slim]

Our homeowners has doubled in two years. Guess I'll spend a lot of my weekend shopping for insurance.

 

[JD8]

the other option then is to make the banks drop the requirement. You can't have it both ways.

What do you mean you can't have it both ways?

It's pretty simple, if you lend money to someone (especially in Oklahoma) you want at least some guarantee the property will be covered in a loss. How do you figure that's unreasonable? If you think that not requiring insurance is a good business model, then start up a lending company. It would be fun to watch.

Don't like it? Pay cash for your house and self insure.