Posted by 101livescan on 4/20/11 9:01am
Msg #380614

Homeowners Insurance

I know that foreclosures has brought a lot of draught on the rest of us...property values sunk impacting everyone's values, even if you're current with mortgage. Taxes didn't go down unless you appealed to the Tax Assessor for revaluation.

BUT, my homeowner's renewal package just arrived and my annual premium has doubled. What the heck? Any one else had this occur? We did have three fires in the County since September 08, May 09, then September 09 that resulted in property losses, so this must have impacted rates in my county, or does it have to do with damaged homes when folks abandoned them and removed all the appurtenant fixtures?? YIKES!

Reply by Lee/AR on 4/20/11 10:14am
Msg #380619

Been playing the 'insurance game' for many years now and this is my take: Whoever has the lowest rates in an area gets a lot of business UNTIL a major disaster happens.... then everyone's rate goes up. So, you move on to the next co. with low rates... repeat annually or so. Depends on disasters.

Reply by ReneeK_MI on 4/20/11 2:14pm
Msg #380662

Definitely pays to shop

I can see from the HUDS that I pay WAY less than most people do, and less than anyone else I've seen (in similar area w/similar prop).

After 38 years with AAA for our cars ...we finally shopped THAT and whoa - now with Progressive, BETTER coverage and almost half the cost.

For both I know they do factor in your credit scores, any prior claims, and for auto, of course ...driving record.