My homeowner's went up to $2,777 from $1,650. :)
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My homeowner's went up to $2,777 from $1,650. :)
Those idiots. And this is based on insured improvements of $190k and contents of $91.5k. They're out of their minds. My house is a shell of what it was. They sent a notice stating that they were increasing rates an average of 37.8%. Unbelievable. If we had sustained zero damage and still had this $1,100 increase, my mortgage would have gone up another $100 a month into the realm of barely affordable. Luckily the ex only has to insure about $30k in shell and maybe $2k in contents. So they can stick that additional premimum - well you know.
Steve
Steve
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- BayouVenteux
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skysummit wrote:That's what you get for living in Lockport....huh bra! LOL
Heck, you don't have to be down on the lower reaches of Bayou Lafourche to have experienced a mega-jack on the homeowners insurance. It's renewal time and my premium jumped $1200 on a home that's a minimum of 50 miles inland as the crow flies -- but just SOUTH of the insurance industry's line of demarcation, the I-10/I-12 corridor.
Guess it's time to start doing some preliminary comparison shopping on new coverage.
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- HURAKAN
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The American dream it's becoming just that, a dream. It's impossible to own a home here in Miami. The new homes being constructed in Kendall near the Everglades that are so close together that a neighbor can give a hand shake to the other neightbor by both opening their windows. These houses starting price is ove 1/2 million dollars. It's impossible for a young or old family to sustain or own a house. And the worse thing is that the government isn't doing much.
Th house in which I leave, a 4/3 home, my parents bought it in June 2003 for $210,000. Right now it's worth around 1/2 million dollars. Just 3 years!
Th house in which I leave, a 4/3 home, my parents bought it in June 2003 for $210,000. Right now it's worth around 1/2 million dollars. Just 3 years!
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- gtalum
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Give it a few months, as housing prices are poised to take a hit here in Florida.
As for insurance, have you tried St. John's Insurance? Safeco cancelled my policy as of June 11 this year. When I shopped around, St. John's offered me similar coverage to Safeco for less than 2/3 of the premium I was paying at Safeco. For ~$150k of coverage, I'm at under $800 per year now when I was at over $1300 with Safeco.
As for insurance, have you tried St. John's Insurance? Safeco cancelled my policy as of June 11 this year. When I shopped around, St. John's offered me similar coverage to Safeco for less than 2/3 of the premium I was paying at Safeco. For ~$150k of coverage, I'm at under $800 per year now when I was at over $1300 with Safeco.
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We're now paying $3,000/year for homeowners. We bought our house here in March of this year (yes, 4 months ago) and the insurance premium was $2200/year. We then received a letter from the insurance company that they were raising the value of our home by an additional 130K which then would raise our insurance premium to 3K. I'm waiting to hear from our agent on switching for a lower premium. Oh, and I am a block NORTH of I-12 and have never made an insurance claim.
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- Aquawind
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MGC wrote:I recently turned down a good paying job near Ft Myers, reason? Can't afford to buy a house. Even if we sold both houses up here in Mississippi I could not afford a similar home in Fla because of the cost, taxes, insurance......MGC
I hear that.. Your paying attention.. Nothing cheap down here.
http://www.storm2k.org/phpbb2/viewtopic.php?t=86854
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MGC wrote:I recently turned down a good paying job near Ft Myers, reason? Can't afford to buy a house. Even if we sold both houses up here in Mississippi I could not afford a similar home in Fla because of the cost, taxes, insurance......MGC
Houses on the MS Gulf Coast are not getting any cheaper either... they are so overpriced now it's ridiculous... houses that should be selling for 160K are going for almost twice that much at 275K.... and I think its going to get worse over time... I know a friend of mine that is building a house just to sell it... its a small house about 1500 sq feet and pretty basic... he was going to ask for about 160K... it's not even finished yet and people are offering him 225K... I bet he sells it for 250K or more because houses, especially new ones that are elevated, are SO hard to find... this is NOT a good time if you are a buyer on the MS Gulf Coast
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I am paying $1974.00 a year now. Guess what was added to my policy that was not there before... yep, the clause stating that "This policy does not provide flood coverage for flood damage or storm surge" "Your limits for coverages A, B, C and loss of use reflect the construction price index increase of 5.5%" Bunch of damn hustlers and crooks!!
storm surge is in bold when they are referring to it not being covered!!
storm surge is in bold when they are referring to it not being covered!!
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- george_r_1961
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Lindaloo wrote:I am paying $1974.00 a year now. Guess what was added to my policy that was not there before... yep, the clause stating that "This policy does not provide flood coverage for flood damage or storm surge" "Your limits for coverages A, B, C and loss of use reflect the construction price index increase of 5.5%" Bunch of damn hustlers and crooks!!
storm surge is in bold when they are referring to it not being covered!!
Linda I expect the same thing to happen here when the "big one" hits.
There oughtta be a law
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I recieved a letter fom my insurance company informing me that I had allowed my insurance policy to lapse. HAH! All that's left is a slab... nothing else. So, I told them that I want them to go down to Buras and re-appraise my house. They declined, and reduced my premiums until I've rebuilt. You should have heard their reaction when I told them to re-appraise. It was priceless.
I offered to send them this picture, but they said that wouldn't be necessary...
I offered to send them this picture, but they said that wouldn't be necessary...
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Frank P wrote:MGC wrote:I recently turned down a good paying job near Ft Myers, reason? Can't afford to buy a house. Even if we sold both houses up here in Mississippi I could not afford a similar home in Fla because of the cost, taxes, insurance......MGC
Houses on the MS Gulf Coast are not getting any cheaper either... they are so overpriced now it's ridiculous... houses that should be selling for 160K are going for almost twice that much at 275K.... and I think its going to get worse over time... I know a friend of mine that is building a house just to sell it... its a small house about 1500 sq feet and pretty basic... he was going to ask for about 160K... it's not even finished yet and people are offering him 225K... I bet he sells it for 250K or more because houses, especially new ones that are elevated, are SO hard to find... this is NOT a good time if you are a buyer on the MS Gulf Coast
Hey Frank.... Kinda makes 'ya wonder what you could get for your "lot" (albeit now improved with 28 pilings!!). I'd think a mil wouldn't be out of the question. Especially being so close to the mall and being "relatively" higher than some other similar lots on the beach?????
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