homeowners insurance rates

Posted in the Frankfort Forum

soon to be bankrupt

Frankfort, KY

#1 Feb 21, 2013
Just got my policy renewal in the mail, it more than trippled! Have spoke to agent and have been told everyone's rates will increase this year due to claims made from all the storms and tornadoes of 2012. Claim or no claim! Has anyone else got their renewal?

Since: May 10

Frankfort, KY

#2 Feb 22, 2013
soon to be bankrupt wrote:
Just got my policy renewal in the mail, it more than trippled! Have spoke to agent and have been told everyone's rates will increase this year due to claims made from all the storms and tornadoes of 2012. Claim or no claim! Has anyone else got their renewal?
Mine have actually decreased - but my renewal won't come up until later in the year. Shop around - I have mine through Farm Bureau. Insurance companies also adjust based on a credit report too. When I lived in TX, the homeowner rates were astronomical - the highest in the country. In 6 years, our annual homeowners rate went from $800 to $2400 with the insurance company blaming adverse weather in other parts of the state.(We bought the house for 116K) Time will tell what mine will change to - I have not had a single insurance claim since returning to KY.
home owner

Louisville, KY

#3 Feb 22, 2013
I have Farm Bureau and got a letter informing me of rate increases caused by KY disaster claims. Mine went from $900 per year to $1200 per year. I haven't filed any claims and have a perfect credit report. Looks like the Insurance companies win again! Because we are home owners, we have to pay for losses to insurance companies caused by claims being paid. Just goes to show that insurance companies are all crooked, and NO PROFIT LOSS buisnesses!
I agree

Frankfort, KY

#4 Feb 22, 2013
There will be a lot of foreclosures because people won't be able to make their house payment. Everything increases but wages.

Since: May 10

Frankfort, KY

#5 Feb 22, 2013
home owner wrote:
I have Farm Bureau and got a letter informing me of rate increases caused by KY disaster claims. Mine went from $900 per year to $1200 per year. I haven't filed any claims and have a perfect credit report. Looks like the Insurance companies win again! Because we are home owners, we have to pay for losses to insurance companies caused by claims being paid. Just goes to show that insurance companies are all crooked, and NO PROFIT LOSS buisnesses!
Geez, that is a bummer. Won't hold my breath I guess hoping that I don't get an increase.
pissed

Louisville, KY

#6 Feb 22, 2013
I got a letter from Farm Bureau saying my deductible was going from $250 to $1000, I have had no claims in the last 30 years myself. I think I hate Farm Bureau!

Since: May 10

Frankfort, KY

#7 Feb 22, 2013
pissed wrote:
I got a letter from Farm Bureau saying my deductible was going from $250 to $1000, I have had no claims in the last 30 years myself. I think I hate Farm Bureau!
Damn! Sounding more and more like Texas - their deductibles were at 1%-2% of estimated value. So price goes up threefold and deductible quadruples - sucks- Isn't there some insurance commission out there in the state and don't they regulate how much of an increase they can do? Just talking out loud.
homeowner

Chicago, IL

#8 Feb 23, 2013
pissed wrote:
I got a letter from Farm Bureau saying my deductible was going from $250 to $1000, I have had no claims in the last 30 years myself. I think I hate Farm Bureau!
Did your premium decrease any?
Rate change

Louisville, KY

#9 Feb 28, 2013
homeowner wrote:
<quoted text>
Did your premium decrease any?
I do not get my bill until March. I am guessing it will go up, it was $600 for years then it went to $800,,,,just praying it stays there.
get real

Frankfort, KY

#10 Mar 2, 2013
I understand. WE have state farm and they go up every year. Who has the cheapest house insurance? It is a rip off by the time you pay all those high property taxes and then house insurance.....terrible. It is so sad working people don't stand a chance in this world. Both the local and national government don't care and has not cared for centuries.
Go Independent

Louisville, KY

#11 Mar 4, 2013
Try an independent insurance agent. They can always find you the lowest rates because they can shop between several carriers to find you the best deal. Agencies like State Farm and Farm Bureau can only give you one price because they are captive agencies meaning they can only offer you their brand/price. IMO, you are really just paying extra to pay for their national advertising programs, lol.
Rate change

Louisville, KY

#12 Mar 4, 2013
I did recieve my statement and it seems it has not gone up any, I am so thankful.
Cobra

Frankfort, KY

#13 Mar 4, 2013
Allstate is very good...Stay away from State Farm!! They suck, and will raise your rates every chance they get(For any reason).
okay

Frankfort, KY

#14 Mar 10, 2013
I agree. I have state farm and I am shopping around for some cheaper house insurance. Any suggestions who offers cheaper house insurance?

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