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Off Topic Off Topic - General non-Corvette related discussion. |
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03-25-2024, 1:13pm | #21 | ||||||
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I have SF as HO INS for the past four years, no other comes within 20% of their premium.
They are very selective, will not insure if built before 1993, they also want a newer roof. I would imagine they have cut 50% of their policies in the past 10 years, as many have. Of course to get the lowest premium you must bundle with cars, and they are ripping me off at $1,500/year on each car, so I need to do some shopping. |
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03-25-2024, 1:25pm | #22 | |||||||
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And any insurer will require that the roof is less than 15 years old. |
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03-25-2024, 1:26pm | #23 |
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I am forced to use one of the two State provided insurers here in FL because of the age of my house, but they require the roof be no less than 20 years old.
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03-25-2024, 1:35pm | #24 | |||||||
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I also 'think' they will not take on coastal areas. I would bet they drop many more policies than they add each year. |
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03-25-2024, 1:43pm | #25 | ||||||
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I’m not coastal anymore. And my new house is north of I-10 so I don’t even need to have impact windows.
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03-25-2024, 1:44pm | #26 |
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03-25-2024, 1:45pm | #27 | ||||||
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If an area is too risky to profitably sell property insurance, that's should be a big red flag to buyers to stay the hell away from such areas. There's no reason why an insurance company should be coerced into selling insurance policies in areas with excessive risk, because all that does is jack up the premiums for everyone else who selected a more prudent site to build/buy a home.
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03-25-2024, 1:47pm | #28 | ||||||
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03-25-2024, 1:48pm | #29 | |||||||
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03-25-2024, 2:00pm | #30 | ||||||
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03-25-2024, 2:03pm | #31 | ||||||
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The only "solution" needed is for people to self-insure. If you're wealthy enough to rebuild your house out of your own pocket, go ahead and build wherever you want. But don't build a house in a high-risk area and expect the rest of us to bail you out when it gets flattened.
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03-25-2024, 2:18pm | #32 |
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And USAA, along with most other insurers, are doing everything they can to depopulate their books via not supplying policies, non-renewals, and flat out dropping policies.
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03-25-2024, 2:28pm | #33 | |||||||
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03-25-2024, 2:50pm | #34 | ||||||
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I guess the big question is, is there a contract with them? Or are these truly just monthly, month and yearly policies?
And who backs these power houses of insurance scams? They never pay out well, if they do at all. Then, rates go up for everyone |
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03-25-2024, 2:53pm | #35 | ||||||
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Two sfr's and four vehicle with SF since Jan this year.
They beat-out the others quotes by a wide margin. |
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03-25-2024, 2:54pm | #36 |
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03-25-2024, 3:00pm | #37 | ||||||
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One thing I have learned about insurance prices, besides being all over the place, is to ask exactly what they cover. Rentals, damage, parts...
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03-25-2024, 3:01pm | #38 | ||||||
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This is for sw MT, Gallatin county. Between one of tge highest drunk driving statistics in the country, weather related accidents/deaths and vehicle collisions with game/livestock it's rated fairly high/risky for insuring vehicles. Surprising I know.
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03-25-2024, 3:29pm | #39 | ||||||
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03-25-2024, 3:44pm | #40 | |||||||
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Last year I sold a 28 year old all steel commercial building with a metal roof. The buyer could not get property insurance. He went with liability and self insured the building. I personally spoke with the insurance broker and then the underwriter. I told both of them that a roofer could go out and remove the roof panels and the same day reinstall the same panels and then it’s a “new” roof. One said no the panels would need to be replaced. I said that is ridiculous and how would you know anyway. Crickets. |
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