ZOMG! Homeowner's Policy went up $507, from $1939 to $2446 to cover replacement value increases

[TheBlackAdder]

I thought I was seeing things at first. I called and they confirmed it was due to increases in material and labor costs.

Over the past 17 years my policy went from $1100 to $1939, and now this year's jump of $507.

That's over 50% of the increases I experienced over 17 years!


Thanks Trump and MAGAts!

[Ritabert]

1. When I left Florida my homeowners' insurance was $7000 per year

Now it would be $12,000 or more and that was with Citizens' Insurance. Private insurance would be more.

[bucolic_frolic]

2. Thanks for the heads up.

My insurer seems to diminish the amount of coverage every year, I assume due to depreciation. There is a point where I'd want a higher deductible and a fixed % of replacement cost, like 50-75%.

Property is freedom!!!

[Tickle]

3. Mine went up too

$2135.00 to $2955.00 so did my property taxes. My mortgage will increase about $200.00.

I am trying to just live off my SS, but it is not working well for me.

[LogDog75]

4. I live in a 10-unit condo HOA

Our insurance bill for our master policy, earthquake insurance, and liability insurance is $15,000 a year. What's interesting is I live in California where you'd think insurance would be higher than in Florida. I know insurance is going up because of the wildfires we've had but other than that and earthquakes, we don't have weather related damages like hurricanes, tornadoes, blizzards, hail, etc. that other states have.

[Midnight Writer]

5. The tariffs are going to kill insurance customers. Auto parts and building supplies will soar in cost.

In addition, our low-wage migrant work-force is afraid to leave their homes lest they be scooped up by masked white men.

[kelly1mm]

6. I assume like me that your house value has increased more than 50% in the past 15 years? If so would you not

expect the insurance to increase by at least 50%?

[ecstatic]

7. I guess I'll be up shit's creek too

I have to do a roof replacement so I know they're going to throw the book at me come July. I don't know if I have the energy to shop around in this environment. We'll see.

[onethatcares]

8. West Florida here and

in a paid off 1948 frame house that no one wants to insure. Last year our premium was $2900 with a $23, 000.00 deductible and no, I repeat "NO" coverage for hurricane or wind damage . If a storm touches land it's a hurricane according to our policy and I'm not shopping this anywhere.

I also have the dreaded asbestos siding which causes mitigation costs to sky rocket. Any idea how many houses have that siding here.?? a bazillion of them.
I was hoping to find a company that would cover liability and fire but no one will write that.

any ideas would be appreciated.