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Farm Bureau, 6.9% increase this year. About a 29% increase since 2016, which is similar to the increase from what we paid for the house to the latest reappraisal (31%). Auto surprisingly went down 27%. We're also going to need a roof soon, but no one has told us to replace it yet. Planning on out-of-pocket.
Another big hit on my Amica renewal for January. Coverage limits are increasing by 9% due to inflation, which I'm fine with, but my premium is going up 28.5%. That's after a 12.5% premium increase (on a 7.5% coverage limit increase) last year.
Our homeowners renewal happens on Jan. 15th each year, so I'll be getting the renewal / "the damage" (what renewal will cost for 2023) around the 1st of December. I pay the homeowners direct ---when we re-fi'ed in 2021 we dropped escrow.
Anyhoo, a side point about State Farm:
Our agent in south Durham (Hope Valley-ish) suddenly sent out a letter recently saying he's retiring, and our new agent would be 'blank...' - agent in Durm I'd never heard of. But I'd been in good touch with our retiring agent's team in the past re: asking them to send pdf of yearly renewal, so I told SF I wanted to move our policy to the agency the retiring agent's team members moved to-- which is on our side of town, and I'd seen that agency while driving on a thoroughfare we use all the time. So it was good to just move agencies with the retired agent's folks. They're always super responsive, and again, new agency is in our area of Durham. The original agency we were with was in south Durham just because it was right near the Fonville-Morrisey office we used when looking for our home.
Also, re: roof age. I called our old SF agency last year for rec's on roofing co's to replace the rubber boots around our roof's sewer vents and the roofing/construction co. we went with used a DRONE to survey the vent boots and the roof. I asked them to survey the whole roof too because it's getting up there a bit in age. They sent the boots quote but radio silence on the roof's condition, so I assume from their drone footage that they think the roof is still good. We'll have to bite the bullet within the next five years I think, but nice not to have to worry about it right now.
Another big hit on my Amica renewal for January. Coverage limits are increasing by 9% due to inflation, which I'm fine with, but my premium is going up 28.5%. That's after a 12.5% premium increase (on a 7.5% coverage limit increase) last year.
Time to shop around.
We're with NC Farm Bureau. Coverage limits are up 8%, overall premium is up ~9%. They've always been the lowest price every time I've shopped them around. Been with them for 16 years now and very happy.
We built new screen deck and patio this year. Called amica to notify. We had to do a Hover app process. Our original home value was from 2019. The Hover assessed our home value to be 140k more. The Hover value does match comps in the last year. So amica increased home coverage from 1200/yr to 1650/yr. Policy goes till June 2023. Not sure if I will shop it, I really do like amica and the increase does seem fair and related to our home value and addition of 65k in new spaces.
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