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This is for anyone here who has Liberty Mutual for homeowners insurance and has just renewed or is about to renew their policy: Did you get a huge increase in your premium? If you did, do you live within 2 miles of the shore? or not? Newsday had an article the other day about LM tying renewals to auto insurance with them, but this is something else. We've been with LM since 2000 and have 4 policies with them (homeowners, auto, excess liability and FEMA flood) -- never ever a claim on any. I just got the renewal notice for the homeowners, and the premium was increased by 42% -- from $3663 to $5441 (the actual out of pocket bottom line after all of the applicable credits were applied). I can't even get through to my agent to ask whether the increase is because we're within 2 miles of the water, or whether LM is doing this to every home on LI that they currently insure (probably because of all the other people calling to complain about cancellations, auto coverage, etc) .... so I thought I'd ask here to see if anyone else has been hit with this yet, and where on LI they live (near water or not). Thanks so much for any input!
This is for anyone here who has Liberty Mutual for homeowners insurance and has just renewed or is about to renew their policy: Did you get a huge increase in your premium? If you did, do you live within 2 miles of the shore? or not? Newsday had an article the other day about LM tying renewals to auto insurance with them, but this is something else. We've been with LM since 2000 and have 4 policies with them (homeowners, auto, excess liability and FEMA flood) -- never ever a claim on any. I just got the renewal notice for the homeowners, and the premium was increased by 42% -- from $3663 to $5441 (the actual out of pocket bottom line after all of the applicable credits were applied). I can't even get through to my agent to ask whether the increase is because we're within 2 miles of the water, or whether LM is doing this to every home on LI that they currently insure (probably because of all the other people calling to complain about cancellations, auto coverage, etc) .... so I thought I'd ask here to see if anyone else has been hit with this yet, and where on LI they live (near water or not). Thanks so much for any input!
Whre do you live?
How close??
North or South?
Thats BS.
I live in Brightwaters, south of Montauk Highway. I finally got through to my agent though. According to him, Liberty Mutual has assesed these "sizeable" (anywhere from 40% to 55%) premium increases for 2007 across the board for every home on Long Island that they currently insure, and "no one type of policyholder was singled out". So if anyone has Liberty Mutual and is due for renewal before the end of this year, you are going to get sticker shock when you open that envelope. (by the way, I've been with them for 10 years with never ever a claim. The only time I *ever* filed a claim with ANY insurance policy was back in 1985 after Hurricane Gloria: A tree came down and destroyed part of our fence. They paid for the fence replacement but not the tree removal (that's not covered under most policies anyway). At that time we had State Farm.
I live in Brightwaters, south of Montauk Highway. I finally got through to my agent though. According to him, Liberty Mutual has assesed these "sizeable" (anywhere from 40% to 55%) premium increases for 2007 across the board for every home on Long Island that they currently insure, and "no one type of policyholder was singled out". So if anyone has Liberty Mutual and is due for renewal before the end of this year, you are going to get sticker shock when you open that envelope. (by the way, I've been with them for 10 years with never ever a claim. The only time I *ever* filed a claim with ANY insurance policy was back in 1985 after Hurricane Gloria: A tree came down and destroyed part of our fence. They paid for the fence replacement but not the tree removal (that's not covered under most policies anyway). At that time we had State Farm.
Status:
" Charleston South Carolina"
(set 5 days ago)
Location: home...finally, home .
8,814 posts, read 21,277,348 times
Reputation: 20102
I have Liberty Mutual home insurance , but they have not bothered me yet. I live in Babylon Village so I am in a flood zone. I have had the same insurance, though , (car anyway) since I was on my Dad's policy in 1968. Can you imagine? That's forty years .
I live in Brightwaters, south of Montauk Highway. I finally got through to my agent though. According to him, Liberty Mutual has assesed these "sizeable" (anywhere from 40% to 55%) premium increases for 2007 across the board for every home on Long Island that they currently insure, and "no one type of policyholder was singled out". So if anyone has Liberty Mutual and is due for renewal before the end of this year, you are going to get sticker shock when you open that envelope. (by the way, I've been with them for 10 years with never ever a claim. The only time I *ever* filed a claim with ANY insurance policy was back in 1985 after Hurricane Gloria: A tree came down and destroyed part of our fence. They paid for the fence replacement but not the tree removal (that's not covered under most policies anyway). At that time we had State Farm.
Yeah..I got LM as well for homeowner and saw a 50% INCREASE TO about $1,400 annually. Most of the other major carriers have pulled out of L.I. in anticipation of the "Big One" (storm similar to 1938). If Katrina happed on L. I. [I guess the insurance industry feels it would be wiped-out due to the cost of housing here...Basically B.S....IMHO.
Status:
" Charleston South Carolina"
(set 5 days ago)
Location: home...finally, home .
8,814 posts, read 21,277,348 times
Reputation: 20102
hurricanes
That is a high premium . I guess my house (a townhome) is smaller so I do not need to pay that much. I am leaving LI soon to move to Oregon anyway & I just hope that we can ride out this summer w/o a hurricane. I do
remember the many hurricanes of the fifties and sixties that we had when I lived on the water on Strongs Neck . The water would come almost halfway up the bluff and there was a lot of erosion. We kids loved it because there were kerosene lamps , ghost stories (tv was out, of course) and cooking w/ fire outside and we pretended that we were backj in the 1800s. Not fun for our parents , though, I am sure.
I have Liberty Mutual and yes, my premium went up dramatically. I live 4 miles from the ocean (as the crow flies). The other problem I have with Liberty Mutual is that "they cover NOTHING!"
Status:
" Charleston South Carolina"
(set 5 days ago)
Location: home...finally, home .
8,814 posts, read 21,277,348 times
Reputation: 20102
I really never had a problem with them, but then I rarely filed a claim . And , nothing that had to do with home losses, only theft once and once they paid for my wallet being stolen in Paris.
This is for anyone here who has Liberty Mutual for homeowners insurance and has just renewed or is about to renew their policy: Did you get a huge increase in your premium? If you did, do you live within 2 miles of the shore? or not? Newsday had an article the other day about LM tying renewals to auto insurance with them, but this is something else. We've been with LM since 2000 and have 4 policies with them (homeowners, auto, excess liability and FEMA flood) -- never ever a claim on any. I just got the renewal notice for the homeowners, and the premium was increased by 42% -- from $3663 to $5441 (the actual out of pocket bottom line after all of the applicable credits were applied). I can't even get through to my agent to ask whether the increase is because we're within 2 miles of the water, or whether LM is doing this to every home on LI that they currently insure (probably because of all the other people calling to complain about cancellations, auto coverage, etc) .... so I thought I'd ask here to see if anyone else has been hit with this yet, and where on LI they live (near water or not). Thanks so much for any input!
That's disgusting.. First.. I would call the NY Insurance Commission or Board or whatever they are called nad complain. This is probably a result of that "We're due for a hurricane" nonsense that we heard about months ago. Yeah.. and Im' due to win the lottery.. doesn't mean I will.
I would then take that new policy with what it covers and the costs and shop around. I have State Farm. So far so good.. My homeowners on a small levit house I believe is around $1000 - 1100 . I dont' know whenI will be renewed and haven't seen any big increase on any paperwork I've recieved yet. But call them all and tell them best price wins!!! Then go with the one that gives you the best price
Your insurance company wants to play with you.. well then pull yoyur loyalty right out from under them.. how dare they treat a longtime consumer like they did you. If all policy holders being raked over the coals did this.. they'll be sorry. Good luck and keep us posted.
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hurricanes
