Did your 2023 homeowners insurance cost go way up? What are you paying?

[roger wiegand]

I hadn't thought about it for quite a while, probably because it has been unremarkable. I checked and our homeowners policy has increased a total of 8% over the past five years, something like 1.5% per year. Not that I'm worried about the insurance company, but either they were overcharging me by a lot earlier or they aren't keeping up with inflation. Living away from the coast in an area without many extreme weather events like tornados and hurricanes seems to make a big difference in rates. Stringent building codes seem to help as well as there's a lot less damage when there is a weather event. It's sure not that our construction costs haven't gone up.

[Jim Becker]

My renewal went up a couple hundred for the year. It is what it is. The Umbrella went down although that's likely most from going to one vehicle.

[George Bokros]

I am with Erie Ins also. I experienced a 38% increase but raising the ductible from $1,000 to $2,500 brought it back down. My car insurance did not increase 1 cent.

[Brian Runau]

I hadn't thought about it for quite a while, probably because it has been unremarkable. I checked and our homeowners policy has increased a total of 8% over the past five years, something like 1.5% per year. Not that I'm worried about the insurance company, but either they were overcharging me by a lot earlier or they aren't keeping up with inflation. Living away from the coast in an area without many extreme weather events like tornados and hurricanes seems to make a big difference in rates. Stringent building codes seem to help as well as there's a lot less damage when there is a weather event. It's sure not that our construction costs haven't gone up.

Roger, may I ask who you use for insurance? thanks Brian

[roger wiegand]

Roger, may I ask who you use for insurance? thanks Brian

It's currently with Hanover. Might have been Geico at the very beginning of that period, it's been Hanover for at least the last four years. My agent shops it around for the best provider every year or two. I doubt that it is cheap in any absolute sense, nothing in MA is! Relative stability is good though.

[Curt Harms]

Ours only increased a small amount, largely due to the replacement cost escalation that is normal every year.

Same here, but my automotive coverage went down upon changing companies. Homeowner's went up less than 10%. Both vehicles are 20 years old so it wouldn't take much damage to total them. They're both still reliable so I'm not in a rush to change anything. People complain about the weather in Pennsylvania but it's really pretty benign. No tornadoes to speak of, flood insurance claims are often a result of building in a flood plain before zoning. Wet enough that any wild fires are easily contained. The last significant insurance hit was 'Superstorm' Sandy in 2012 which cost us a new roof.

[jack duren]

I called my insurance agent about my roof. After a long discussion, he informed insurance would be going up this summer and not to be alarmed Said it would be a huge increase…

[Pat Germain]

Colorado is experiencing Huge increases in home and auto insurance. My Farmers policy went up over 100% last year. I switched to Nationwide which kept it at the same rate, but expect it will go up soon.

Colorado has experienced numerous fires and hailstorms over the past several years. Many insurers completely pulled out of Colorado. We have an area near Colorado Springs called Black Forest. As you would expect, it's a heavily forested area. Getting homeowner's insurance in this area is now either impossible or extremely expensive. Insurers don't want the fire risk. I'm concerned we may soon be like Florida and California where it's often impossible to get homeowner's insurance at any price.

[Jim Becker]

Same here, but my automotive coverage went down upon changing companies. Homeowner's went up less than 10%. Both vehicles are 20 years old so it wouldn't take much damage to total them. They're both still reliable so I'm not in a rush to change anything. People complain about the weather in Pennsylvania but it's really pretty benign. No tornadoes to speak of, flood insurance claims are often a result of building in a flood plain before zoning. Wet enough that any wild fires are easily contained. The last significant insurance hit was 'Superstorm' Sandy in 2012 which cost us a new roof.

I'm bundled....CSAA via AAA. It's consistently been the best pricing for years, even with the recent increases.

[Mike Henderson]

Colorado is experiencing Huge increases in home and auto insurance. My Farmers policy went up over 100% last year. I switched to Nationwide which kept it at the same rate, but expect it will go up soon.

Colorado has experienced numerous fires and hailstorms over the past several years. Many insurers completely pulled out of Colorado. We have an area near Colorado Springs called Black Forest. As you would expect, it's a heavily forested area. Getting homeowner's insurance in this area is now either impossible or extremely expensive. Insurers don't want the fire risk. I'm concerned we may soon be like Florida and California where it's often impossible to get homeowner's insurance at any price.

There's no problem getting home insurance in California unless you live in a fire risk area. There's been some talk about forcing insurance companies to write policies in those areas (at reduced rates), but that would mean they would have to charge more to homeowners who do not live in those areas. My attitude is that people who chose to live there need to pay for the risk.

I live in a subdivision and it would take a fire storm situation that burned an awful lot of houses before it got to us - so our fire insurance is reasonable.

Mike

[Brian Elfert]

Someone resurrected a 2023 thread. My homeowner's insurance went up 60% for 2024. You would be hard pressed to find any homeowner in the Minneapolis metro area that didn't get at least a 25% increase.

[Brian Runau]

It's currently with Hanover. Might have been Geico at the very beginning of that period, it's been Hanover for at least the last four years. My agent shops it around for the best provider every year or two. I doubt that it is cheap in any absolute sense, nothing in MA is! Relative stability is good though.

Thanks Roger. Brian

[Pat Germain]

There's no problem getting home insurance in California unless you live in a fire risk area. There's been some talk about forcing insurance companies to write policies in those areas (at reduced rates), but that would mean they would have to charge more to homeowners who do not live in those areas. My attitude is that people who chose to live there need to pay for the risk.

I live in a subdivision and it would take a fire storm situation that burned an awful lot of houses before it got to us - so our fire insurance is reasonable.

Mike

Sorry, I didn't mean to suggest ALL of California or Florida. I should have specified *some areas of California and Florida*. I'm from Orange County, CA and I have many relatives living there. Homeowner's insurance is expensive because the houses are so expensive. However, I'm not aware of any difficulty getting insurance even though a big fire did rip through residential areas of Anaheim several years ago.

[Brian Runau]

Someone resurrected a 2023 thread. My homeowner's insurance went up 60% for 2024. You would be hard pressed to find any homeowner in the Minneapolis metro area that didn't get at least a 25% increase.

I Started a new 2024 thread since it was 9 months after this thread and pricing references would be different. Brian

[Patty Hann]

Mine went up (with no claims) about 45% in July 2023. This despite having a complete new roof put on Aug 2018.
From 2018 to July 2023 there were minimal increases, maybe 10% at most.
We shall see if it again increases significantly come this July.
I'm with USAA.