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Omaha Steve

(99,054 posts)
Sat Mar 29, 2014, 09:27 AM Mar 2014

Our homeowners policy just dropped about 25% from last year


From $1,658 to $1,227.00 on the same policy, same company.

Has anybody else had this happen? It did have a large increase last year after hurricane and tornado costs sored across the USA. We got a new roof two years ago when all of Bellevue got new roofs from hail damage. Same company fixed my hail damage on my car from the same storm.

OS

16 replies = new reply since forum marked as read
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Our homeowners policy just dropped about 25% from last year (Original Post) Omaha Steve Mar 2014 OP
That's an aberration. hobbit709 Mar 2014 #1
Never have had that happen in 35 years of home ownership. In fact, we have been in this home livetohike Mar 2014 #2
Did you put on "hail resistant" shingles? DURHAM D Mar 2014 #3
Oh for the love of God, where do you live and what is the name of your Baitball Blogger Mar 2014 #4
The Hartford (Named One Of The “World’s Most Ethical Companies” By The Ethisphere Institute For 6tim Omaha Steve Mar 2014 #6
Thank you! Baitball Blogger Mar 2014 #7
Thanks for that info. I'm in the midst of shopping since my insurance has gone up considerably in adirondacker Mar 2014 #10
find the new exclusions elehhhhna Mar 2014 #5
Did your town switch from a volunteer fire department sufrommich Mar 2014 #8
Bingo Omaha Steve Mar 2014 #15
I would probably call and find out why. Only cause you don't want any nasty surprises KittyWampus Mar 2014 #9
Mine dropped like that once wercal Mar 2014 #11
the rate is based on your ISO rating sweetapogee Mar 2014 #16
. David2775 Mar 2014 #12
Credit check? MissB Mar 2014 #13
Mine did too. Jazzgirl Mar 2014 #14

livetohike

(22,084 posts)
2. Never have had that happen in 35 years of home ownership. In fact, we have been in this home
Sat Mar 29, 2014, 09:37 AM
Mar 2014

for seven years and our policy has increased 10% each year like some automatic thing that happens. I just got the new yearly bill and it has increased another 10%. This time, I will spend some time looking for a new company (I have GEICO which is really Travelers).

DURHAM D

(32,595 posts)
3. Did you put on "hail resistant" shingles?
Sat Mar 29, 2014, 09:42 AM
Mar 2014

If so you would get a 30% discount.

Make sure they didn't change your coverage to Actual Cash Value vs. Replacement Cost Value. Also, in some parts of the country they are changing the way the deductible is calculated.

Omaha Steve

(99,054 posts)
6. The Hartford (Named One Of The “World’s Most Ethical Companies” By The Ethisphere Institute For 6tim
Sat Mar 29, 2014, 10:10 AM
Mar 2014

On both our hail loses we paid no out of pocket with The Hartford. The hail damage was changed to 1% of the total coverage of the home. Ours is $260,000 or a $2,600 deductible. We have contents replacement and some other add ons. And because of AARP they can't cancel us.

(I'll be away for the next several hours so it will be awhile before I can reply again)

OS

http://www.thehartford.com/

http://www.thehartford.com/aarp/

The Hartford Named One Of The “World’s Most Ethical Companies” By The Ethisphere Institute For Sixth Time: http://finance.yahoo.com/news/hartford-named-one-world-most-161800991.html

Award recognizes exceptional culture of compliance and ethical leadership
Business Wire The Hartford
March 20, 2014 12:18 PM

The Hartford has been recognized by the Ethisphere Institute as a 2014 World’s Most Ethical Company®. The Hartford is one of only two property & casualty insurance companies to receive the recognition this year.

“The Hartford strives to exemplify exceptional character in all that we do,” said Alan Kreczko, executive vice president and general counsel at The Hartford. “Receiving this award for the sixth time demonstrates our continued commitment to upholding the highest level of ethics to our employees, customers, business partners, neighbors and investors.”

Ethisphere recognizes organizations that continue to raise the bar on ethical leadership and corporate behavior. Through a rigorous, multi-step evaluation process, Ethisphere's researchers and analysts reviewed hundreds of companies in order to determine the finalists. Ethisphere named 144 companies to this year's World's Most Ethical Companies list in 41 industries.

The Hartford’s culture is built on a foundation of ethical decision making, backed by a strong ethics and compliance program that emphasizes leadership accountability and proactively preventing compliance-related issues. These values are demonstrated in the way The Hartford’s employees make decisions, promote an inclusive work environment, volunteer in local communities, and become ambassadors for environmental stewardship.

FULL story at link.







adirondacker

(2,921 posts)
10. Thanks for that info. I'm in the midst of shopping since my insurance has gone up considerably in
Sat Mar 29, 2014, 10:24 AM
Mar 2014

the last couple of years. Someone advised me that the longer you hold on to a carrier the higher they raise the rates. They game the system by offering cheap insurance for the first couple of years, then raise the rates in order for you to drop their coverage.

 

elehhhhna

(32,076 posts)
5. find the new exclusions
Sat Mar 29, 2014, 09:42 AM
Mar 2014

companies are dropping or capping sewer/water damage coverage (too 'spensive! and with our crap infrastructure the sewer claims are growing exponentially). OR they upped your deductible to like 5-10% of the cost of the structure - so you won't even claim losses or damages worthless than 5 - 10% of the cost of your entire house...

sufrommich

(22,871 posts)
8. Did your town switch from a volunteer fire department
Sat Mar 29, 2014, 10:15 AM
Mar 2014

to a paid fire department with a station? I lived in a small town once that did this and my insurance went down,although not as much as yours did.

Omaha Steve

(99,054 posts)
15. Bingo
Sat Mar 29, 2014, 04:08 PM
Mar 2014

We were a volunteer Fire Dept. with 4 stations for forever. We now have a part time dept. The first 20 some FULL timers will be hired this year.

OS

wercal

(1,370 posts)
11. Mine dropped like that once
Sat Mar 29, 2014, 10:39 AM
Mar 2014

The fire classification did it. If you don't live in a city, you can potentially have a very high classification number...which is bad. The insurance companies are constantly re-evaluating and re-drawing their maps to determine which rural fire dept covers what area. I benefitted from their most recent change.

sweetapogee

(1,168 posts)
16. the rate is based on your ISO rating
Sun Mar 30, 2014, 05:35 PM
Mar 2014

It really doesn't matter if paid/volly services your district. They base fire rates on your ISO rating... response time (history), amount of water available, number of available personnel at any given time. My fire dist. has a ISO rating of something like 6.4 which is great for a semi-rural fire company. Our average response time is <10 minutes in much of the TWP. (we meet NFPA Standards), we have an initial response with 4000 gallons of water and we use compressed air foam. Another 3500 gallons is available by the time we run out. The biggest problem is that fires usually burn for quite some time before anyone notices it, unless someone is home at the time.

Response time will suffer if the available resources are in service for another call. We have been out on a call for something minor when a structure fire hit. It is many times faster and proper to call out mutual aid to handle the second call rather than drop everything and go to the more important call. Once you are dispatched you have to respond in order of dispatch, not degree of emergency.

MissB

(15,800 posts)
13. Credit check?
Sat Mar 29, 2014, 12:28 PM
Mar 2014

For years, I took the moral high ground and refused to allow my auto and home insurance rates to be dictated by my credit. It seemed unfair that I could possibly get lower rates just because I have good credit, when folks that have poor credit would get higher insurance rates.

That stance, by the way, cost me $1300 per year.

I'm over it.

And my house insurance dropped by over $500. Car insurance dropped more than that.

In our state, you have to opt-in to the credit check. In many states, it is automatic.

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