Author Topic: Anyone else's homeowner's insurance renewal significantly increase this year?  (Read 838 times)

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Offline USCTrojanCPA

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I just got my homeowner's insurance policy renewal in the mail and my homeowner's insurance policy increased by about 40%. Anyone else experience this?  I'm going to do some price shopping.  Any recommendations on insurance companies to check with?
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Offline best_potsticker_in_town

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Try Lemonade. I use them and have been pretty happy with their service and app.
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Offline daedalus

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I have my boring cars and my home policies with Mercury.  Last year's home insurance bill, $1131.  This year's bill, $1220.  Never needed help so don't know how good their service is.

Offline qwerty

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I have farmers and my renewal is in the fall. In the fall of 2018 my premium was 1400. In the fall of 2019 it was 1800. It was almost a 30% increase. I thought it was ridiculous. I my renewal will come in a couple of months. If the increase is more than 10% I’ll probably shop the cars/home/umbrella. 

Offline eyephone

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I’m too lazy to look. Did the increase has to do with the following: fires, accidents, etc.

Offline USCTrojanCPA

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I’m too lazy to look. Did the increase has to do with the following: fires, accidents, etc.

Nope, nothing changed and I've never made any kind of claims.
Martin Mania, CPA
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Offline USCTrojanCPA

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I have farmers and my renewal is in the fall. In the fall of 2018 my premium was 1400. In the fall of 2019 it was 1800. It was almost a 30% increase. I thought it was ridiculous. I my renewal will come in a couple of months. If the increase is more than 10% I’ll probably shop the cars/home/umbrella. 

I've been with the same insurance company for the past 4 years on my Tustin Ranch home and the renewal increases were 4-6% which I was fine with but I was shocked to see that they bumped it up by almost 40% this time around so I'll be shopping around.
Martin Mania, CPA
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Offline USCTrojanCPA

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Try Lemonade. I use them and have been pretty happy with their service and app.

So far, they've provided the lowest quote by a few hundred dollars...I have a few other places to check but I think I may end up with them. Thanks for the suggestion.
Martin Mania, CPA
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Offline eyephone

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I’m too lazy to look. Did the increase has to do with the following: fires, accidents, etc.

Nope, nothing changed and I've never made any kind of claims.


Sticker shock’ for California wildfire areas: Insurance rates doubled, policies dropped

https://www.sacbee.com/news/politics-government/capitol-alert/article232575652.html

Homeowners Insurance Premiums Increased 59% Over The Past Decade, ValuePenguin.com Finds.

https://www.prnewswire.com/news-releases/homeowners-insurance-premiums-increased-59-over-the-past-decade-valuepenguincom-finds-301070517.html





Offline hurijo

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Can try Hippo as well.

Offline best_potsticker_in_town

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Try Lemonade. I use them and have been pretty happy with their service and app.

So far, they've provided the lowest quote by a few hundred dollars...I have a few other places to check but I think I may end up with them. Thanks for the suggestion.

Yeah - that's why I decided to go with them too. Overall, they're significantly cheaper. I did a lot of research as well. They approve about 30% of their claims instantly. Customer service receives high marks. Everything is digital first through their app - so you may have trouble if you like to be able to quickly get someone on the phone. Lemonade also donates a small portion of the premiums to charity, which is a cool bonus.
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Offline aquabliss

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Have you tried the insurance comparison services like thezebra.com or gabi.com?  Heard good things about gabi.com but haven’t tried them. 

I kinda had the opposite problem few months back.  I have State Farm and my Auto went way up but my homeowners was low.  When I shopped around I could beat the auto rate easily but everyone else’s homeowners was much higher and it was about a wash overall, so just stayed with State Farm.  No claims or tickets for me either.

Offline akkord

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Does lemonade do umbrella, car too?  I'd like to stay with one company for everything, been on my wife's insurance ever since we got married, maybe it's time to shop around for auto, home, umbrella. 

Offline best_potsticker_in_town

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Last I checked, they didn't offer auto.
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Offline USCTrojanCPA

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So Lemonade's quote for my home insurance came in around what my policy premium was last year so I'll be moving forward with them.  What's interesting their quote for my Las Vegas home (second home) was almost double than I was able to get through Geico (lower than Mercury, my previous insurance carrier).
Martin Mania, CPA
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CA CPA License # 107675
mmania001@yahoo.com
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