GON
$150 Site Donor 2025
Home insurance rate changes since 2021. Would have expected Florida #1, California #2. Surprised Utah at #1, Illinois at #2. Interesting chart.
Home insurance rate changes since 2021
- Thread starter GON
- Start date
My FL home's insurance has doubled since 2021. And I expect another 20% increase this year. I'm installing a screwed down metal roof and going unprotected if I stay.
$330 in 1990, $14,000 in 2024, I fully expect near $16K at renewal time 2025. That's as much, per month, as my mortgage was on my house. This is how you go broke in retirement. Paying the insurance companies over $50K per year in premiums.
$330 in 1990, $14,000 in 2024, I fully expect near $16K at renewal time 2025. That's as much, per month, as my mortgage was on my house. This is how you go broke in retirement. Paying the insurance companies over $50K per year in premiums.
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Bull pucky. $500 to $1500 is not 7%.
GON
$150 Site Donor 2025
Smartphone, autocorrect, and old age.
What is the source of that tripe?
Wyoming decided to sit this one out.
Really starting to think this was indeed pulled out of the south end of a north bound zebra.
With more frequent severe storms, flooding and wildfires is it any surprise that home insurance rates have risen? Home insurance is not a charity business and insurance rates have to cover the costs (and some profit too).
My approach is to have insurance for risks I cannot comfortably cover myself. Thus I carry huge liability coverage on my vehicles and earthquake insurance on my home. And earthquake insurance in a risk area is pretty expensive.
My approach is to have insurance for risks I cannot comfortably cover myself. Thus I carry huge liability coverage on my vehicles and earthquake insurance on my home. And earthquake insurance in a risk area is pretty expensive.
No one is denying rates went up. Only doubting the veracity of the chart
DC covered doh.
It hasn't been 50%, but it's been at least 30%. Just like my property taxes (28%).
Your insurance is more than my mortgage - which includes tax and insurance ...
I'm in Florida and that chart is pretty close to what I'm seeing. I've been experiencing a ~10%/yr rate hike for the last several years, even though I haven't made a claim since 2004. I've shopped around and switched companies a handful of times over the years in the pursuit of better rates. Despite that, I'm still paying over three times as much (for same type of coverage on same property) as I was paying 20 yrs ago. But I've been consistently getting a 2-3%/yr raise...hmmm, the math ain't working out in my favor.
My insurance bill renewing in May is now over $4,300.00 for all my polices-Utah has seen some major insurance increases. But yet-no situations where mass claims justified these increases.
I will say that distracted driving and red light running are rampant.
I will say that distracted driving and red light running are rampant.
