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The problem with that theory is I buy insurance on a fixed dollar amount basis and it does not increase every year.
How do you buy your insurance?
Insurance covers the cost of material and labor for repairs (of your home, car, etc). The cost of materials and labor INCREASE every year. Why shouldn't your insurance?
I've been with USAA for many years and increases have been reasonable. However, that was when I lived in AZ. I may find it different in NC.
But when we closed on our new house in January, I did get two other quotes on the entire package (2 cars, homeowners, personal property riders, and liability umbrella.) Overall, Amica was slightly higher than USAA, while Travelers was 15-20 higher.
I wanted to get a quote from Farm Bureau, but after taking all my information, the agent (recommended from someone on CD) never phoned or emailed me back.
We have State Farm for auto and home. When the homeowner's went up, the way I found out was that our mortgage payment went up a little.
Called State Farm and found out that the home value they were using was from years ago before prices declined.
They changed the value on the policy and our insurance premium was lowered. Check the value of your home against what they show. Could be they have it higher than it should be.
We have State Farm for auto and home. When the homeowner's went up, the way I found out was that our mortgage payment went up a little.
Called State Farm and found out that the home value they were using was from years ago before prices declined.
They changed the value on the policy and our insurance premium was lowered. Check the value of your home against what they show. Could be they have it higher than it should be.
best,
toodie
Be sure you understand that what you are paying for is the value of rebuilding your home NOT the market value of what your home would sell for. This is a critical difference.
Over the last few years in Arizona, it was not uncommon to insure your home for MORE than the market value as it would take more to rebuild it than it was worth on the resale market. Especially in the very high end, upgraded homes.
Hhmmm, USAA covers our rental property in Clayton after State Farm dropped us. We have all our insurance through them, to incl our primary house in Holly Springs.
18% increase this year with USAA in 27519. Have home, two cars and umbrella with them. Might be time to shop around.
Do pop back and tell us what you found. Might save the rest of us a bunch of time and hassle. I assume you are going to compare USAA with companies with similarly high consumer and financial ratings (like Amica)?
Do pop back and tell us what you found. Might save the rest of us a bunch of time and hassle. I assume you are going to compare USAA with companies with similarly high consumer and financial ratings (like Amica)?
I shopped around. Truth is, USAA is reasonable. Every quote I got was either slightly higher (1-2% for Amica) or moderately higher (Farmer's was almost 50% higher). Yes, my insurance went up quite a bit this year, but they are still the best option (pricewise) for us.
There seems to be some blind loyalty toward USAA but the truth is there are cheaper options. USAA service is very good though.
I have used Amica for going on 20 years and am pretty loyal to them. I had a pretty substantial homeowners claim in 2005 and they handled it in exemplary fashion and didn't touch my rates or drop me-other carriers use a claim like mine to charge you more or drop you altogether.
Our rates have increased slightly over the 5 years we have been in our current home due to rising cost of rebuilding. If you have never had your home torn apart it is easy to get mad at an increase that amounts to a few dollars additional escrow every month. When you have had a claim that forces you out of your home for 6 weeks (as I have), how you are treated becomes the primary issue.
Think about the home you live in. Think about shopping for it and paying attention to the quality of materials and workmanship. Think about how it has held up during your ownership. Think about how much it costs you to live in it. Now, accept the fact that in the event of the claim an insurance company is going to look to put your home back together as cheaply as humanly possible (no different from a car wreck). You will likely have to fight to get things done properly using like materials. You never find out what kind of insurance you really have until you make a claim.
There seems to be some blind loyalty toward USAA but the truth is there are cheaper options. USAA service is very good though.
I have used Amica for going on 20 years and am pretty loyal to them. I had a pretty substantial homeowners claim in 2005 and they handled it in exemplary fashion and didn't touch my rates or drop me-other carriers use a claim like mine to charge you more or drop you altogether.
Our rates have increased slightly over the 5 years we have been in our current home due to rising cost of rebuilding. If you have never had your home torn apart it is easy to get mad at an increase that amounts to a few dollars additional escrow every month. When you have had a claim that forces you out of your home for 6 weeks (as I have), how you are treated becomes the primary issue.
Think about the home you live in. Think about shopping for it and paying attention to the quality of materials and workmanship. Think about how it has held up during your ownership. Think about how much it costs you to live in it. Now, accept the fact that in the event of the claim an insurance company is going to look to put your home back together as cheaply as humanly possible (no different from a car wreck). You will likely have to fight to get things done properly using like materials. You never find out what kind of insurance you really have until you make a claim.
Amica is good until after the SECOND CLAIM and then they'll drop you like a hot potato!!! I'm not bitter!!! I do have some sort of satisfaction as I watch them advertise now...they must need the business!!!
After being dropped by...............we found Farm Bureau. At the time, their rates were better, as well. However, their rates have gone up in the last 2 years.
I have lots of clients that check Farm Bureau's rates and also check Erie and a few others. Seems like Farm Bureau and Erie are usually the lowest.
Vicki
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I'm not bitter!!! 
I do have some sort of satisfaction as I watch them advertise now...they must need the business!!! 
