Major Insurance Carrier Hikes Rates For Homeowners due to Bad Weather (Atlanta: how much, houses)

[RandyWatson13]

Hey as if homeowners didn't already have to deal with declining values, inaccurate property taxes and banks that are full of monkey crap.


Major Insurance Carrier Hikes Rates For Homeowners - News Story - WSB Atlanta

[neil0311]

I have Allstate, so this may affect me. If rates are out of whack for the market, then I have the option to go elsewhere. If rates are the same or higher elsewhere, then Allstate may have had lower than market rates prior to the increase. It's not that big of a deal.

What amazes me is the people who have have no insurance. How much can insurance cost for some of those houses? $200/yr? $300/yr? $1000/yr? Now the taxpayers will get to bail them out of their stupidity.

[JPD]

Allstate is notifying customers that it is raising rates at renewal 23 percent, or an average of $160 to $200 a month.

This makes absolutely no sense. $200 a MONTH? On top of what? That's $2400 a year, on top of what you already pay. You should be able to insure the average house for under $500 a year.

Let's hope this is just a case of bad reporting.


The thread title is way too gentle. I would have put Allstate in the title.

[neil0311]

Originally Posted by JPD

Allstate is notifying customers that it is raising rates at renewal 23 percent, or an average of $160 to $200 a month.

This makes absolutely no sense. $200 a MONTH? On top of what? That's $2400 a year, on top of what you already pay. You should be able to insure the average house for under $500 a year.

I'm assuming that's an error and it's "per year" and not per month.

[atlantagreg30127]

All of the insurance companies will use recent events locally and out West as well as a reason to raise rates eventually.

[rcsteiner]

Originally Posted by atlantagreg30127

All of the insurance companies will use recent events locally and out West as well as a reason to raise rates eventually.

I'm sure the fact that Georgia is adjacent to both Florida and Alabama (which both tend to get hit a lot harder than we do) won't help. Neighboring rate comparisons and all that...

[stvincent]

Originally Posted by neil0311

I have Allstate, so this may affect me. If rates are out of whack for the market, then I have the option to go elsewhere. If rates are the same or higher elsewhere, then Allstate may have had lower than market rates prior to the increase. It's not that big of a deal.

What amazes me is the people who have have no insurance. How much can insurance cost for some of those houses? $200/yr? $300/yr? $1000/yr? Now the taxpayers will get to bail them out of their stupidity.

I don't have Allstate but would not look at it as that big of a deal either if I did. If I decided the rate increase was more than I was willing to pay, I would simply go elsewhere.