Homeowners ins up $169?

Does this sound right? I know everything goes up every year, but my homeowners insurance just went up $169 this year. There has been no changes - no additions, no claims, no nothing. I haven't called my rep yet b/c I wanted to get some feedback from you guys first if this sounds normal or not. TIA!

Re: Homeowners ins up $169?

If you dont' mind me asking..which company.. I work for a company.. we increased rates b/c we havent' increased rates for years...so it was substantial?

Re: Homeowners ins up $169?

State Farm

Re: Homeowners ins up $169?

hmmm..nope not the same co. their should be an explanation with your policy though. Good luck

Re: Homeowners ins up $169?

It was an across the board rate increase.

Re: Homeowners ins up $169?

Re: Homeowners ins up $169?

I'm with utica and mine went up $440 for the year. I have to call them to tell them about some updates we made including all of the elctrical and electric box, a new kitchen, the removal of a fireplace, and we installed gas and co detectors, so I'm hoping it might go down a little. if not its really not that bad. its like $37 extra a month if you break it down for my $440 increase.

Re: Homeowners ins up $169?

Look at the replacement cost on the policy and compare it to lats year. Every year you will notice that value increases a little bit. Yes, market values go down but the ins co isnt concerned with what you can sell your home for, they are concerned on how much $ it will cost for them to rebuild yore home(labor + materials)
Being in the industry i would save your increase is minimal compared to what i have seen. have your company revie wthe policy to see where you can save within the policy. If your not happy with that start shopping around for new policies. HTH

Re: Homeowners ins up $169?

We have State Farm and ours went up by about the same amount.

I haven't called them but the accompanying papers say that rates have been adjusted and continue to reflect the expected cost of claims. I imagine it's probably due to that big hurricane threat.

Re: Homeowners ins up $169?

Thanks guys! $169 compared to some other #'s I've heard isn't that bad. But I just was wondering. I think I'm still going to call the ins anyway just to get the exact breakdown on why it went up.