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allikat
LIF Infant
Member since 5/06 283 total posts
Name:
Alli
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Increase in Homeowner's Insurance
We will almost be in our home for a year now and just received our homeowner's insurance renewal. It went up about $80. No claims, changes, etc. Is this normal? I know there's COL increases, but I often hear of people not having any change in price.
Just wondering what your experiences have been... Thanks! 
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Posted 8/8/11 1:03 PM  |
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cutie
LIF Adult
Member since 2/06 1893 total posts
Name:
Janine
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Re: Increase in Homeowner's Insurance
I would be happy if ours went up only by that much!
We have been in the house 6 years and our premiums have gone from 1040 to 2400 - no claims.
Thanks for reminding me that I need to get on shopping around!
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| Posted 8/8/11 5:50 PM |
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allikat
LIF Infant
Member since 5/06 283 total posts
Name:
Alli
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Re: Increase in Homeowner's Insurance
That stinks!!! Hopefully, you'll be able to shop around and find something a bit cheaper.
Last year when we bought the house this company was just soooo much cheaper to begin with. I'll probably stay with them at least one more year... We'll see.
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| Posted 8/8/11 11:13 PM |
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Smileyd17
kids
Member since 5/05 20997 total posts
Name:
Mommy
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Re: Increase in Homeowner's Insurance
Rate increases are going to occur due to inflation but yes, a rate increase in general, depending on the company.
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| Posted 8/9/11 11:11 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Increase in Homeowner's Insurance
that's about right. I don't get an increase every year.
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| Posted 8/9/11 2:01 PM |
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AidansArmy
LIF Adult
Member since 3/11 1292 total posts
Name:
Suzanne
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Re: Increase in Homeowner's Insurance
Ours went up too because they increased my hurricane insurance. They gave me an option of paying a higher deductible in case of a loss due to hurricane and it will save us $140 a year.
My luck I will take that bet and we'll be the only house on the block hit by a hurricane. 
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| Posted 8/9/11 2:48 PM |
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Dulcinea
Weekend Warrior
Member since 3/08 2530 total posts
Name:
Dulcinea
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Re: Increase in Homeowner's Insurance
Time to shop around!
I never had my home ins. increase for my more than $10/yr. Anything more than that and it's time to search again. Rates are still competitive these days.
I used to pay 220/year for condo insurance (never had it go up in my 6 yrs there) and now am paying under $690/yr with $1000 ded. for home insurance for a 4 BR home with 2-car detached garage.
Look into increasing your deductible to see if that lowers your rate.
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| Posted 8/9/11 3:41 PM |
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allikat
LIF Infant
Member since 5/06 283 total posts
Name:
Alli
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Re: Increase in Homeowner's Insurance
Thanks, guys! Anyone want to share who you recommend for homeowner's insurance? We're with Liberty right now.
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| Posted 8/9/11 10:31 PM |
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cutie
LIF Adult
Member since 2/06 1893 total posts
Name:
Janine
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Re: Increase in Homeowner's Insurance
Posted by AidansArmy
Ours went up too because they increased my hurricane insurance. They gave me an option of paying a higher deductible in case of a loss due to hurricane and it will save us $140 a year.
My luck I will take that bet and we'll be the only house on the block hit by a hurricane.
Um yeah, on top of raising our premium, they ALSO raised our hurricane deductible to $20,000.
We're with Liberty Mutual and no one there can give me any kind of explanation as to why it has gone up.
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| Posted 8/9/11 10:35 PM |
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allikat
LIF Infant
Member since 5/06 283 total posts
Name:
Alli
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Re: Increase in Homeowner's Insurance
So, now I'm sitting here comparing this year's policy to last year's. It looks like they increased all of my replacement cost limits. I'm not so sure I need that, especially with everything decreasing in value! Maybe that's why there's an increase? UGH, I get so frustrated when dealing with insurance... I'm calling my guy tomorrow.
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| Posted 8/9/11 10:49 PM |
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