Had a tax assessment lately ?
We've had a huge increase in home values here due to blue-state flight, and the County Assessor has made sure the County grabs the money via property taxes.
Every other cost (construction materials, too), as we know, is WAY up as well.
Could be the insurer is either covering their butts, or simply profiteering.
I haven't had a premium increase yet, but one wouldn't surprise me.
I was just gonna say the same. We JUST closed on the sale of the house we lived in for 22 years. Taxes were always around $6-7000 (up and down with the economy and value of the house). After 22 years we sold for about 30% more than we paid all those years ago. The new people are now paying FIFTEEN THOUSAND DOLLARS in property taxres. I basically couldnt afford to buy my old house with those taxes. We bought a house on an island an hour outsiude Detroit. EXACT same price we sold our old house for. Taxes are $6800. Now that our house is paid for I can cut the flood insurance and save $600/yr. Our house sits up about 5ft above lake level. If IT floods there will be bigger problems. Most of SE MI lakefront property is barely 2ft above the lake.
PS We were paying like $3500/yr for homeowners on old house. Then shopped it around a couple years ago and saved like $1800. Think we are with AAA now for car and home.
