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Old 04-09-2015, 10:17 AM
 
753 posts, read 1,105,083 times
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I've had Geico since I bought my current home 4.5 years ago. But... in that time my premium has increased by 50%. Has that been typical of rates generally in this area? I've never filed any claims so I guess I am paying for other people's hail and wildfire claims....
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Old 04-09-2015, 10:20 AM
 
Location: Santa Fe, NM
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Mine has gone up, but I do live in Black Forest....
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Old 04-09-2015, 01:35 PM
 
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Happy to give a recommendation if you want contact me via DM. Excellent agent and company.
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Old 04-10-2015, 08:58 AM
 
Location: Colorado Springs area
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thanks much but I did find a good one
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Old 04-10-2015, 09:51 AM
 
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Quote:
Originally Posted by dr.frog View Post
I've had Geico since I bought my current home 4.5 years ago. But... in that time my premium has increased by 50%. Has that been typical of rates generally in this area? I've never filed any claims so I guess I am paying for other people's hail and wildfire claims....
American family, increased our insurance by about 25%. Two roofs replaced, in 12 years. Also, had a racoon problem, that was fixed this last time. Nothing like having racoons coming to nest in your roof's overhang. No pesky little critters for the last 3 years; oh joy!!!!
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Old 04-10-2015, 02:02 PM
 
Location: The Springs
1,778 posts, read 2,887,037 times
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Quote:
Originally Posted by mollygee View Post
American family, increased our insurance by about 25%. Two roofs replaced, in 12 years. Also, had a racoon problem, that was fixed this last time. Nothing like having racoons coming to nest in your roof's overhang. No pesky little critters for the last 3 years; oh joy!!!!
Approximately 3 out of 4 roofs along the Front Range have been replaced in the past 7 years. That is negatively impacting the loss ratios of companies with large market shares in this area. These carriers are having to pass along 15%, 25% up to 40% increases in a single year. Some carriers increase premiums knowing they will lose business in a particular area where catastrophic losses have mounted. They actually do so in order to decrease their density. If you have a roof that is either wood shake, T-Lock or more than 7 years old, you'll probably pay through the nose with huge deductibles to boot. That's if they'll cover it at all.

Right now, it's still a good move to contact and independent agent who can look at companies with a smaller footprint and less losses. This leads to better rates for the consumer. There are hundreds of companies admitted in CO. Just make certain the carrier is financially stable with an AM Best rating of no less than A, preferably A+ or above.

OP, if you'd like some referrals, PM me and I'll be happy to provide.

Last edited by Kar54; 04-10-2015 at 02:16 PM..
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Old 08-27-2015, 06:43 AM
 
Location: Colorado Springs
60 posts, read 85,371 times
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Didnt want to start a new thread for this simple question so thought I'd ask it here. As for Colorado Springs home insurance does standard home insurance cover wild fires and what about flood insurance? Thanks
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Old 08-27-2015, 07:35 AM
 
Location: Santa Fe, NM
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Homeowners insurance normally covers you for wildfires, but flood insurance is separate and most people don't have that coverage.
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Old 08-27-2015, 08:00 AM
 
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Flood insurance is bought through FEMA even though it's issued be a local agent.

You can check availability and price here: https://www.floodsmart.gov/floodsmart/
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