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Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,585 posts, read 81,260,275 times
Reputation: 57826
Mine went up about 15%, which seemed low considering the higher cost of materials, labor, and the new state law banning the use of discounts for good credit scores.
Status:
"I didn't do it, nobody saw me"
(set 2 days ago)
Location: Ocala, FL
6,487 posts, read 10,363,068 times
Reputation: 7945
Quote:
Originally Posted by HB2HSV
Just received my HOI quotes on rentals. The premium has increased and, in some cases, to over 50% over the 2021 rate!!!
The agent told me it's because both the materials and labor cost has gone up. But at 50%?
What's your experience?
Increased expenses almost always results with increased premiums for insurance and cost of goods. Nobody should be shocked and I certainly don't look forward to potential premium increases. I know that I don't have much, if any, control over that. Your best option is to ask for policy comparisons/analysis to see if you can save money on those premiums. It's like the old saying, "Nothing is guaranteed but death and taxes'.
Residential SFR in Raleigh, NC. Changed from 45+ years with USAA until the Homeowner rates got crazy. Switched to Erie in January 2020, saving about $800 a year. Premiums are roughly exactly the same - in fact, our liability umbrella went down.
Missouri - State Farm. Paid $1,054 last year. $1,204 this year. No changes in coverage.
Wow thats great.
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