Re: Insurance renewal shock
[Re: not_a_charger]
#3229983
04/29/24 02:16 PM
04/29/24 02:16 PM
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Joined: May 2005
Posts: 4,760 Florida
BDW
master
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master
Joined: May 2005
Posts: 4,760
Florida
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They're not referring to rating one house differently from another. They already do that. What they mean is that insurers are going to be allowed to choose which houses to insure and which ones to not insure. That's bad for consumers. Currently, if an insurer writes home insurance, they have to at least provide a quote for any property that meets their policy definitions. That’s already happening, last 2 policies I’ve had required a home inspection, AFTER I had already paid the policy in full. Went online and their reviews were terrible, many people complaining of paying the policy, then getting cancelled a couple of months later after the inspection. They want to make sure the roof and water heater are below a certain age. In my case they tried to get me to replace the hot water heater because it was 9yrs old, and 10 is a hard no. But they “let me slide” because it’s in the garage.
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Re: Insurance renewal shock
[Re: BDW]
#3229987
04/29/24 02:36 PM
04/29/24 02:36 PM
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Joined: Dec 2007
Posts: 20,034 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,034
Puttin' on the foil in Charles...
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What I described is not already happening, at least not yet. I'm talking about simply refusing to offer coverage at all to whomever they don't want to, for no reason other than they don't want to. Unfortunately, I think that's how things will end up, at least in FL and CA. The home inspection thing is actually quite common in areas that are prone to hurricanes and/or earthquakes.
Earning every penny of that moderator paycheck.
DBAP
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Re: Insurance renewal shock
[Re: Beebuzzn]
#3230039
04/29/24 06:25 PM
04/29/24 06:25 PM
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Joined: Dec 2007
Posts: 20,034 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,034
Puttin' on the foil in Charles...
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Uninsured drivers have always been a problem. Fraudulent claim frequency hasn't really increased, but the cost of those claims has increased along with the cost of every other claim that's filed. Damage/theft from criminal activities is a drop in the bucket for your home/auto insurance, especially home insurance. Auto, it's largely a nonstarter unless you own a high theft vehicle (Kia/Hundai without the immobilizer, Charger/Challenger are good examples).
Health insurance is a whole different bucket of bees.
Earning every penny of that moderator paycheck.
DBAP
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Re: Insurance renewal shock
[Re: not_a_charger]
#3230106
04/29/24 11:53 PM
04/29/24 11:53 PM
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Joined: Feb 2003
Posts: 10,234 Someplace you aren't
SomeCarGuy
I Live Here
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I Live Here
Joined: Feb 2003
Posts: 10,234
Someplace you aren't
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A major problem is people gaming the system for new roofs. “Hail damage.” I’ve watched the shady companies out on these new roofs. Some have to be reworked within months. From what I’ve been told, you can sign something and the roofer has a way to then sue the insurer for not covering the roof. Like they have a right to represent you and they have a lawyer well versed in this bs.
I know for a fact a next door neighbor went nuts in a roofer that said he would have to pay because the roof was just worn out. The guy was yelling about how it should be “hail damage” and he’d find somebody to get it done. In the end, the guy that got yelled at did the job and it was covered. Somehow. I’ve seen about 6 of these “hail damage” roofs go in on my street in the last two years. Somehow the hail missed my house??? But every one around me got it. Hmm.
I had my long time roofer out for a tune up, a legit outfit with a commercial division I’ve had on my job, and the lead guy said he won’t mess with people wanting him to scam a roof for them. This group isn’t the type that has call backs either.
I’ve come to view insurance as a lay away plan for new roofs. Somebody has to pay for all this nonsense. Like the guy that painted his brick house white and it looked bad because the roof was brown. He boasted to me one day that he was “lucky it had hail damage” so he got to switch it to black. Convenient, huh?
I want my fair share
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Re: Insurance renewal shock
[Re: SomeCarGuy]
#3230123
04/30/24 06:19 AM
04/30/24 06:19 AM
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Joined: Dec 2007
Posts: 20,034 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,034
Puttin' on the foil in Charles...
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A major problem is people gaming the system for new roofs. “Hail damage.” I’ve watched the shady companies out on these new roofs. Some have to be reworked within months. From what I’ve been told, you can sign something and the roofer has a way to then sue the insurer for not covering the roof. Like they have a right to represent you and they have a lawyer well versed in this bs.
I know for a fact a next door neighbor went nuts in a roofer that said he would have to pay because the roof was just worn out. The guy was yelling about how it should be “hail damage” and he’d find somebody to get it done. In the end, the guy that got yelled at did the job and it was covered. Somehow. I’ve seen about 6 of these “hail damage” roofs go in on my street in the last two years. Somehow the hail missed my house??? But every one around me got it. Hmm.
I had my long time roofer out for a tune up, a legit outfit with a commercial division I’ve had on my job, and the lead guy said he won’t mess with people wanting him to scam a roof for them. This group isn’t the type that has call backs either.
I’ve come to view insurance as a lay away plan for new roofs. Somebody has to pay for all this nonsense. Like the guy that painted his brick house white and it looked bad because the roof was brown. He boasted to me one day that he was “lucky it had hail damage” so he got to switch it to black. Convenient, huh? This happens all the time, and has for years.
Earning every penny of that moderator paycheck.
DBAP
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Re: Insurance renewal shock
[Re: not_a_charger]
#3230132
04/30/24 08:31 AM
04/30/24 08:31 AM
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Joined: Jan 2003
Posts: 2,062 MD
RTSE4ME
top fuel
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top fuel
Joined: Jan 2003
Posts: 2,062
MD
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This happens all the time, and has for years.
Yeah, I get calls after a strong storm wanting to inspect my roof. My roof is old but in good shape and has the most expensive shingle type there is. I don't want to know the cost of replacement.
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Re: Insurance renewal shock
[Re: Hemi_Joel]
#3230164
04/30/24 10:19 AM
04/30/24 10:19 AM
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Joined: Jan 2003
Posts: 10,763 North Dakota
6PakBee
I Live Here
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I Live Here
Joined: Jan 2003
Posts: 10,763
North Dakota
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I have the same insurance company i had 30 years ago before all these "new" companies came out of the wood work. Back then there was no Flo, Emu or Jake. If it's regulated they have a awful lot of cash to throw at advertising instead to the people who need it. They should restrict the insurance companies from advertising like they did with Cigarettes! Companies that are trying to grow, or even tread water, have to spend money on trying to bring in new clients. Usually that involves advertising and building their agent network. Apparently, some insurance companies find that TV advertising pays off, or they wouldn't do it. The self-insured organization that I am involved with writes premiums at an overall anticipated loss ratio of 50%. That means if everything plays out in accordance with the actuaries projections, 50% of premiums will be paid in claims expense. Approximately 30% goes to administrative expenses, marketing, and commissions, the rest goes to accumulating state required financial reserves, and surplus (profit ). Insurance companies operate on a very similar basis. I don't know. I have everything with Farmers Alliance out of Kansas. Have had good service, reasonable rates (compared to American Family, my previous carrier) and I have never seen a Farmers Alliance commercial in any form of media.
"We live in a time when intelligent people are being silenced so that stupid people won't be offended".
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Re: Insurance renewal shock
[Re: 6PakBee]
#3230183
04/30/24 11:08 AM
04/30/24 11:08 AM
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Joined: Dec 2007
Posts: 20,034 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,034
Puttin' on the foil in Charles...
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That's a small regional company with a niche market. They don't really need to advertise much because they are not focused on growth. I would suspect their local agents advertise though. Billboards, a sign at the high school football stadium, that kind of thing.
Earning every penny of that moderator paycheck.
DBAP
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Re: Insurance renewal shock
[Re: cudatom]
#3230189
04/30/24 11:30 AM
04/30/24 11:30 AM
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Joined: Sep 2003
Posts: 19,641 north of coder
moparx
"Butt Crack Bob"
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"Butt Crack Bob"
Joined: Sep 2003
Posts: 19,641
north of coder
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"If you doubt the roof cost figures just stop. I traveled nationwide handling catastrophe claims for a long time (30 yr rep). I wrote my own roof estimate before I left and compared it to what was written. Everything was correct only the cost has changed. The insurance companies actuarial scales can no longer keep up. Depending on where you live it isn't going to get better anytime soon." i had the roof on the house and garage replaced several years back, before 2020, but i can't remember just how many years before. at that time, the house was $7600.00 and the garage was around $6000.00. today, it would be $30,000.00 or more !
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Re: Insurance renewal shock
[Re: moparx]
#3230192
04/30/24 11:41 AM
04/30/24 11:41 AM
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Joined: Dec 2007
Posts: 20,034 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,034
Puttin' on the foil in Charles...
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I had a complete tearoff and re-roof done 2 summers ago. Including replacing 6 sheets of plywood, and installing gutter screens and heat cables on the lower level (split level house), it was $12k.
Earning every penny of that moderator paycheck.
DBAP
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Re: Insurance renewal shock
[Re: not_a_charger]
#3230194
04/30/24 11:46 AM
04/30/24 11:46 AM
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Joined: Feb 2014
Posts: 1,713 central il.
second 70
OP
top fuel
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OP
top fuel
Joined: Feb 2014
Posts: 1,713
central il.
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I had a complete tearoff and re-roof done 2 summers ago. Including replacing 6 sheets of plywood, and installing gutter screens and heat cables on the lower level (split level house), it was $12k. I had 42 square complete tear off and replacement with architect shingles 4 years ago $11,000. Neighbor had his done a few weeks ago. Same company. His roof was only around 36sq. $17,000.
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Re: Insurance renewal shock
[Re: not_a_charger]
#3230371
04/30/24 11:12 PM
04/30/24 11:12 PM
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Joined: Jan 2003
Posts: 15,540 Omaha Ne
TJP
I Live Here
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I Live Here
Joined: Jan 2003
Posts: 15,540
Omaha Ne
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A major problem is people gaming the system for new roofs. “Hail damage.” I’ve watched the shady companies out on these new roofs. Some have to be reworked within months. From what I’ve been told, you can sign something and the roofer has a way to then sue the insurer for not covering the roof. Like they have a right to represent you and they have a lawyer well versed in this bs.
I know for a fact a next door neighbor went nuts in a roofer that said he would have to pay because the roof was just worn out. The guy was yelling about how it should be “hail damage” and he’d find somebody to get it done. In the end, the guy that got yelled at did the job and it was covered. Somehow. I’ve seen about 6 of these “hail damage” roofs go in on my street in the last two years. Somehow the hail missed my house??? But every one around me got it. Hmm.
I had my long time roofer out for a tune up, a legit outfit with a commercial division I’ve had on my job, and the lead guy said he won’t mess with people wanting him to scam a roof for them. This group isn’t the type that has call backs either.
I’ve come to view insurance as a lay away plan for new roofs. Somebody has to pay for all this nonsense. Like the guy that painted his brick house white and it looked bad because the roof was brown. He boasted to me one day that he was “lucky it had hail damage” so he got to switch it to black. Convenient, huh? This happens all the time, and has for years. Then there's a few idiots like me that had 5-6 shingles blow off in a wind storm. Did i turn a claim in ? No, Did I when a tree fell and his the lower bldg. ? No, Does that count? NO!! Did my insurance company care ? NO!! on car insurance, how many accidents caused by cell usage go unreported? what is that cost ? if they monitor your driving habits why not do the same for cell usage? Someone mentioned Golf tournaments, I say exec salaries, bonEuses and other perks
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Re: Insurance renewal shock
[Re: TJP]
#3230393
05/01/24 06:54 AM
05/01/24 06:54 AM
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Joined: Dec 2007
Posts: 20,034 Puttin' on the foil in Charles...
not_a_charger
Mr. Big Shot Moparts Moderator
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Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,034
Puttin' on the foil in Charles...
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if they monitor your driving habits why not do the same for cell usage? They only monitor your driving habits if you're dumb enough to volunteer to put one of their devices in your car. You want them to monitor cell usage? Without permission? Just have the right to do so? Not me, but you can feel free to volunteer. Like you, I had damage from a storm at my house. About $10k in damage back in 2016. I filed a claim. My roof had 1 damaged shingle, which I fixed myself. The independent appraiser and a roofing company both told me they could get my roof replaced, and I declined because I had no other roof damage. I've written appraisals on plenty of roof claims over the years, I know how the game is played, but I was not going to partake in that.
Earning every penny of that moderator paycheck.
DBAP
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Re: Insurance renewal shock
[Re: TJP]
#3230400
05/01/24 07:37 AM
05/01/24 07:37 AM
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Joined: May 2019
Posts: 6,330 nowhere
Sniper
master
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master
Joined: May 2019
Posts: 6,330
nowhere
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if they monitor your driving habits why not do the same for cell usage? USAA has a program to lower your rates that uses an app on your phone and they monitor cell usage. Not sure if it matters to them if it is hands free or not ether. Not going that route for anyone. One of the things is that I put most of my miles, 50k a year, on the work truck. Maybe 1000 miles a year on my POV. I sure don't want to pay USAA for the miles I put on the truck. Not sure how they know your a driver or a passenger either.
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