Farm Bureau Insurnace Rate Increase?

Farm Bureau Insurnace Rate Increase?

Posted in the Berea Forum

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Hop Sing

Lexington, KY

#1 Sep 14, 2010
Anyone receive a notice from Farm Bureau about a rate increase? Ours came today. Regardless of the funny math, the increase equates to about 10%.(on the notice) That includes a Berea tax of 6.9% and a Kentucky surcharge of 1.8%.

Here is the funny math. Current annual payment,$682..00 was $536.00. A difference of $146.00. A 10% increase would have been $68.20 or $53.60 depending on how you look at it. And who's math.

I noticed we were ENCOURAGED to take higher deductables (already at $1000,00 and lower the value of our personal items to help *US*(actaully save them) more money.

Although I have been with them 6 years, and we have never had a clain, my notice has a neat little YELLOW dot in the upper right corner of the document. Gues that indicates trash or "blue collar" crowd.(remember by insurance company standards, these are the worst of the worst when shit hits the fan.)

Probably would have been better off staying with State Farm in retrospec since my last two years have been in excess of what State Farm would have charged. Even today.

Insurance companies are like the IRS. You are F!!!ed regardless. Honest people, tring to do the right thing seemed to always get F!!!ED.

Shitty end of the stick I think they call it.

“Sic friatur crustum dulce ”

Since: Apr 09

the real world.....

#2 Sep 14, 2010
We dumped Farm Bureau years ago. Their rates were outrageous.
We switched to State Farm, and are now with AllState.

My son uses Progressive and gets good rates, especially since he's 22yo.

Totally agree with your "IRS" paragraph.
Market Man

Lexington, KY

#3 Sep 14, 2010
Hey, somebody has to help pay the salary of the BPD. Their salaries have to be paid.
Ray

Lexington, KY

#4 Sep 26, 2011
Received my notice Saturday. My bill increased about 16% above last years bill. Called them this morning and the agent also mentioned something about increasing deductables. Going to meet with them in the morning and something is going to change.
ROX

Lexington, KY

#5 Sep 27, 2011
One word of caution. Do you regularly check under your home for mold? My agent, also Farm Bureau, told me in no uncertain terms that they will not cover mold that has grown over time and it was up to me to inspect my home or have someone else to do do it on a regular basis. Same for the roof and other exterior protections.(loosing siding, cracked walls, foundation etc.)

Lets say a comode was leaking and it has been leaking for some time but was not detectable under normal circumstances. This is damage that WOULD NOT be covered. Same goes for a water heater, air conditioner condensate drain and basically all plumbing issues. A ruptured water heater, washer hose burst etc. WILL BE hovered however.

I suspect that in the future you will have to purchase mold insurance from the govenment like you purchase flood insurance now. No insurance I know of will now cover flood.
robie

Lexington, KY

#6 Oct 2, 2011
my bill went from 508 to 800 i have farm beauro to they suck everybody need to go to state farm and let farm beuaro haft to close down. and that what iam going to do.
ROX

Lexington, KY

#7 Oct 3, 2011
robie wrote:
my bill went from 508 to 800 i have farm beauro to they suck everybody need to go to state farm and let farm beuaro haft to close down. and that what iam going to do.
Problem is.... My current policy with Farm Bureau is almost $200.00 per year lower than State Farm! That is why I changed back in 2005.
We pay ours annually and right in front of me is the annual statement for 10/2011 to 10/2012 which is now $655.17. Just under $70.00 of that goes directly to the City of Berea.

This provides $180K for the structure,(6 YRO 3BR 2BA, 1600SqFT brick ranch.)$84.5K on personal property and $18.3K on other structures and $300K on liability. Deductable is $1.5K.

Anyone want to compare prices and coverages?
Rianna

Dallas, TX

#8 Oct 14, 2011
Yah I want to know ROX if your quotes for insurance are for actual cash value or replacement cost?
ROX

Nicholasville, KY

#9 Oct 15, 2011
Rianna wrote:
Yah I want to know ROX if your quotes for insurance are for actual cash value or replacement cost?
Replacement cost.
Not Mine

Berea, KY

#10 Oct 15, 2011
Hop Sing wrote:
Anyone receive a notice from Farm Bureau about a rate increase? Ours came today. Regardless of the funny math, the increase equates to about 10%.(on the notice) That includes a Berea tax of 6.9% and a Kentucky surcharge of 1.8%.

Here is the funny math. Current annual payment,$682..00 was $536.00. A difference of $146.00. A 10% increase would have been $68.20 or $53.60 depending on how you look at it. And who's math.

I noticed we were ENCOURAGED to take higher deductables (already at $1000,00 and lower the value of our personal items to help *US*(actaully save them) more money.

Although I have been with them 6 years, and we have never had a clain, my notice has a neat little YELLOW dot in the upper right corner of the document. Gues that indicates trash or "blue collar" crowd.(remember by insurance company standards, these are the worst of the worst when shit hits the fan.)

Probably would have been better off staying with State Farm in retrospec since my last two years have been in excess of what State Farm would have charged. Even today.

Insurance companies are like the IRS. You are F!!!ed regardless. Honest people, tring to do the right thing seemed to always get F!!!ED.

Shitty end of the stick I think they call it.
My insurance actually went down. My policies merged into one and made my rate go down.

Since: Jan 09

Location hidden

#11 Oct 15, 2011
Yep... Ours just went up too. What a shame!! Insurance is something ya gotta have unfortunately.
shop around

Berea, KY

#12 Oct 20, 2011
You should get other quotes for your insurance needs. I had my home and 2 vehicles through KFB
with a charge of 1750.00 per year, I now pay
1250.00 per year for the same coverage amount
through Travelers Insurance.
Sue

Liberty, KY

#13 Oct 23, 2011
I have insurance with Farm Bureau I'm going to look around and get quotes at other insurance, Farm Bureau just keeps going up. It is a shame I've had insurance with them for along time I have never had a wreck I'm fifty and it's higher now than when I first got insurance with them. They no you have to have insurance so they will keep raising it.
reasons

United States

#14 Oct 24, 2011
The reason why KFB and State Farm are do expensive is because they have to pay their agents as to where other (progressive and more) don't use agents, therefore your rates are cheaper. Although I do have KFB, my rates have actually gone down. I have full coverage on two 2011 vehicles and pay less then $600 every 6 months. My homeowners is cheap too. Not sure how much your record effects your rates, but as for my husband & myself, neither have ever gotten a ticket
Sue

London, KY

#15 Oct 29, 2011
I've never gotten a ticket or have I every had a wreck. So you would think of my age and my record it would go down! I no people that has it with State Farm and theirs goes down every so often. Because of their record.
Janet

Corinth, MS

#16 May 15, 2012
I could not believe it when I opened my HO Declaration. In 2009 paid $1051; 2010 paid $1161 and those years INCLUDED earthquake insurance. 2011 paid $1093 w/o earthquake (which we bought for $213 from Argenia. 2012 $1543!!!!! Increase of more than 41%!!!!! No claims, EVER. Why??? We have all our insurance policies with Farm Bureau, HO, 3 autos, boat, travel trailer and have not ever had any claims. This is just over the top. I'll be calling around today.
CkItOut

Nicholasville, KY

#17 May 15, 2012
Insurance rates are getting way, way out of hand. We pay ours annualy but if it keeps climbing I am going to have to go the bi-annual route.

Janet, we are in the same here as far as claims. I thought I was paying too much at State Farm for auto insurance so I called farm Bureau. I currently pay S/F $800 and change, annualy on my truck with $250 deductable. FB wanted a bit over $100 per month and no discounts and $1000 deductable.

Just for giggles I done an on-line quote for The General and they were almost half again what FB wanted. Their liability alone was more than I am paying with SF.

I have a CS of 805 and wife's CS is 812. House is worth double of what we owe on it and our only debt is a car payment, credit card which is paid in full monthly and the house payment.

(forget GEICO and Progressive by the way.)

Does anyone have any experence with Farmers?
rice eater

United States

#18 May 17, 2012
Hop Sing wrote:
Anyone receive a notice from Farm Bureau about a rate increase? Ours came today. Regardless of the funny math, the increase equates to about 10%.(on the notice) That includes a Berea tax of 6.9% and a Kentucky surcharge of 1.8%.
Here is the funny math. Current annual payment,$682..00 was $536.00. A difference of $146.00. A 10% increase would have been $68.20 or $53.60 depending on how you look at it. And who's math.
I noticed we were ENCOURAGED to take higher deductables (already at $1000,00 and lower the value of our personal items to help *US*(actaully save them) more money.
Although I have been with them 6 years, and we have never had a clain, my notice has a neat little YELLOW dot in the upper right corner of the document. Gues that indicates trash or "blue collar" crowd.(remember by insurance company standards, these are the worst of the worst when shit hits the fan.)
Probably would have been better off staying with State Farm in retrospec since my last two years have been in excess of what State Farm would have charged. Even today.
Insurance companies are like the IRS. You are F!!!ed regardless. Honest people, tring to do the right thing seemed to always get F!!!ED.
Shitty end of the stick I think they call it.
like a good neighbor state farm is there
Melissa Gillette

Fairmount, GA

#19 Jan 28, 2013
That is nothing you guys, got a notice today, ours went from 758.00 a year to 1971.00!!! They claim our fire protection rate went from a 6 to a 10 ( the worst there is) funny thing is, the fire hydrant is still only 135 feet from our property and the fire house is still in the same place it was last year!!! this is a 120% increase!!!! The only claim we ever filed was over 5 years ago and it didn't go over 5,000 dollars!!!! Talk about getting ripped off!!! Calling USAA Tomorrow!!
Farmboy

Canton, OH

#20 May 12, 2013
Melissa Gillette wrote:
That is nothing you guys, got a notice today, ours went from 758.00 a year to 1971.00!!! They claim our fire protection rate went from a 6 to a 10 ( the worst there is) funny thing is, the fire hydrant is still only 135 feet from our property and the fire house is still in the same place it was last year!!! this is a 120% increase!!!! The only claim we ever filed was over 5 years ago and it didn't go over 5,000 dollars!!!! Talk about getting ripped off!!! Calling USAA Tomorrow!!
Got my letter today from Farm Bureau... My annual payment went from $2,581.91 to $3,225.02. That's an increase of $668.11 for my farm. We have State Farm on our home but our farm is a county away and this is strictly farm insurance on barns and property. An absolute joke and trust me I'm not paying it. I'm certainly looking elsewhere unless they drop the price.

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