Homeowners Insurance - who do you like?

[lakelover]

I've been with Amica for the last 8 years. We have a replacement value policy that has gone up a little each year, which is to be expected. The average annual increase in their assessed value has been around 1%, with a premium increase of about 7% annually the last few years.

We got our bill this year and even though their replacement value went up 1% again, the premium went up 18%! Nothing has changed as far as the house or property. We made two claims with them, one for about $1500 in 2007 when lightning struck our TV antenna and fried the TV and a stereo system; and one for $1000 in 2008 for ice storm damage and clean-up.

So I start making a few calls tomorrow, first to Amica, but I'd like to know what company you have for homeowners, your satisfaction generally, and with the cost of premiums.

 

[Tyme2fish]

Re: Homeowners Insurance - who do you like?

IMO they all hoover.

 

[T_Herrod]

Re: Homeowners Insurance - who do you like?

I think you will find just about everyone's insurance is going up. Mostly due to all the natural disasters we have been having. If your company has clients in areas hit by a natural disaster then your rates are going to go up to cover losses you company had to pay for. I just went through the same thing with my insurance so i increased my deductible to offset the increase by my insurance company. my premium is the same as before so i just have to be more careful not to have a claim.

 

[kenmyfam]

Re: Homeowners Insurance - who do you like?

Don't know if you can get insurance from RBC in the USA but they have been great for us. Been with them over 16 years now. Had a few claims over the time for both auto and home. Great coverage, prompt payout and no fuss. Worst one was when our son totalled the minivan. Went shopping, found similar minivan that was more expensive than the original settlement. Called them and they added the extra straight away and paid the seller direct. All this while driving a supplied rental vehicle. Son not at fault so premium did not increase. Had car broken into with all my work gear in it while my mother in law was in the hospice in their parking lot. Window smashed and whatever they smashed the window with they dinged the bodywork up in a few places as well. Caring and wonderful service and support. We have everything insured with them and get a hefty discount. Cars, boat, travel trailer, home.
No complaints from me with them but I am just one instance.

 

[bruceb58]

Re: Homeowners Insurance - who do you like?

If you are military or retired military, USAA.

 

[southkogs]

Re: Homeowners Insurance - who do you like?

I've been pretty pleased with Allstate.

 

[emilsr]

Re: Homeowners Insurance - who do you like?

If you are military or retired military, USAA.

+1

They've treated me right over the years, but I had a rate increase as well.

 

[lakelover]

Re: Homeowners Insurance - who do you like?

Yeah, I expect increases, but this one surprised me a little.

I called Amica and found out that the home replacement cost increase accounted for only 4.8% of my premium increase, and the rest (13.2%) was a general increase given to all policy holders. Seems a little excessive to me, but I guess that's the way it goes.

Before Amica, I had State Farm for many years, and was generally pleased with them. The reason I left them was big increases for 3 years in a row. Similar coverage @ State Farm now would save me a fair amount, but I'm not quite ready to jump ship yet. Still researching rates etc.

This all makes me think back to a question I asked myself when I first retired: Why do they call it "fixed income"? They should call it "broken income"! :laugh:

 

[bruceb58]

Re: Homeowners Insurance - who do you like?

My home insurance policy actually went down almost 15% when it renewed last September. I am in a fire area so mine was high to begin with. May have gone down because there haven't been any losses recently in the area.

Maybe Sandy had an affect on your rates.

 

[lakelover]

Re: Homeowners Insurance - who do you like?

My home insurance policy actually went down almost 15% when it renewed last September.

That's great news, and rare! (I don't have any military affiliation, otherwise I'd look into it.)

 

[jkust]

Re: Homeowners Insurance - who do you like?

I tend to shop it at least every other year. The issue here is that we can still get a policy without an additional wind/hail deductible that is for example a percentage of the value beyond my normal 2500$ deductible. I believe it was 2% of the value which is a big number. I ignore the companies that include the wind/hail and so that limits me to fewer choices. Of those fewer choices, for some reason Farmers has killed the competition every time. A few years back Progressive had just entered the Homeowners market and she glossed over the wind/hail portion, I caught it and the Progressive direct employee (not an agent) told me that If I'm smart about it, Id just work a deal with my contractor and never actually pay the deductible. She was openly toubting insurance fraud. I couldn't believe it. One thing I like about Farmers is they include an identity theft benefit of 30k to assist in the event your identity is stolen. Just a sleeper cover but nonetheless.

 

[Redneck_Randy]

Re: Homeowners Insurance - who do you like?

If you are military or retired military, USAA.

+2 on USAA also. We have them for our auto's and home. USAA is the number #1 rated insurance company out there.

 

[jkust]

Re: Homeowners Insurance - who do you like?

+2 on USAA also. We have them for our auto's and home. USAA is the number #1 rated insurance company out there.

I've been meaning to try out USAA for years. Apparently you can be the child of a military person as well which if true qualifies me as my dad served in Vietnam.

 

[emilsr]

Re: Homeowners Insurance - who do you like?

I've been meaning to try out USAA for years. Apparently you can be the child of a military person as well which if true qualifies me as my dad served in Vietnam.

Correct. That's how I qualify.

 

[lncoop]

Re: Homeowners Insurance - who do you like?

I tend to shop it at least every other year. The issue here is that we can still get a policy without an additional wind/hail deductible that is for example a percentage of the value beyond my normal 2500$ deductible. I believe it was 2% of the value which is a big number. I ignore the companies that include the wind/hail and so that limits me to fewer choices. Of those fewer choices, for some reason Farmers has killed the competition every time. A few years back Progressive had just entered the Homeowners market and she glossed over the wind/hail portion, I caught it and the Progressive direct employee (not an agent) told me that If I'm smart about it, Id just work a deal with my contractor and never actually pay the deductible. She was openly toubting insurance fraud. I couldn't believe it. One thing I like about Farmers is they include an identity theft benefit of 30k to assist in the event your identity is stolen. Just a sleeper cover but nonetheless.

I'm a big fan of Farmer's as well. They cover my home, autos and boat (Foremost). I've had one homeowner's claim (new roof due to hailstorm) and one boat claim (admiral ran into a dock:facepalm.We also have a couple of term life policies through them.

 

[bruceb58]

Re: Homeowners Insurance - who do you like?

I've been meaning to try out USAA for years. Apparently you can be the child of a military person as well which if true qualifies me as my dad served in Vietnam.

Not positive, but your parent has to become a USAA member first. You should call and ask. Easily the best insurance company out there.

 

[jkust]

Re: Homeowners Insurance - who do you like?

I'm a big fan of Farmer's as well. They cover my home, autos and boat (Foremost). I've had one homeowner's claim (new roof due to hailstorm) and one boat claim (admiral ran into a dock:facepalm.We also have a couple of term life policies through them.

I had a little bit of a tiff with the Farmers agent a few years back where they had put my auto on Foremost but never told me that it was considered their high risk carrier which I had no clue. Farmers is their preferred carrier. I'm forgetting now but the Foremost policy was missing one glaring benefit that the Farmers policy would have had and the agent made a huge misrepresentation error. They put me on high risk amazingly because we had three events in a 5 yer period, one was a fender bender my wife was in but got very convoluted as the other driver ripper her own bumper off later to make it look bad to get a larger payout and lied in her statement, a speeding ticket my wife got and the third was a new windshield. I couldn't believe firstly that I was on risk insurance and that the cracked windshield replacement pushed us over the edge. It ended up the agent screwed up so bad that they ended up refunding money back to me to avoid a call to the state as he would have surely been disciplined. The error was in the egregious category sending me a Farmers policy but actually writing it on Foremost. I left Farmers ASAP for my auto then but still nobody could beat their homeowners rates.

 

[lncoop]

Re: Homeowners Insurance - who do you like?

I had a little bit of a tiff with the Farmers agent a few years back where they had put my auto on Foremost but never told me that it was considered their high risk carrier which I had no clue. Farmers is their preferred carrier. I'm forgetting now but the Foremost policy was missing one glaring benefit that the Farmers policy would have had and the agent made a huge misrepresentation error. They put me on high risk amazingly because we had three events in a 5 yer period, one was a fender bender my wife was in but got very convoluted as the other driver ripper her own bumper off later to make it look bad to get a larger payout and lied in her statement, a speeding ticket my wife got and the third was a new windshield. I couldn't believe firstly that I was on risk insurance and that the cracked windshield replacement pushed us over the edge. It ended up the agent screwed up so bad that they ended up refunding money back to me to avoid a call to the state as he would have surely been disciplined. The error was in the egregious category sending me a Farmers policy but actually writing it on Foremost. I left Farmers ASAP for my auto then but still nobody could beat their homeowners rates.

Wow. I didn't even know they ran auto policies through Foremost. Thought it was just boats. Learn something every day. One reason I like Farmer's so much is my agent. He always answers my call with "what'd you do now?".:laugh:

 

[Limited-Time]

Re: Homeowners Insurance - who do you like?

Could be worse, you could live in SC and be insured by Allstate.

 

[lakelover]

Re: Homeowners Insurance - who do you like?

Could be worse, you could live in SC and be insured by Allstate.

Interesting article, thanks.