TurboGoKart Posted May 24, 2012 Report Share Posted May 24, 2012 Title pretty much says it all. I submitted a claim to my insurance for hail and roof damage, the insurance company approved it, but now it's got me wondering, how much is this claim going to raise my premium that I pay? Insurance company says they have no way to tell, so I'm just wondering how much yours went up from personal experience? I believe the quote came in just over $16k. This was roof, siding, gutters, and front porch awning. Quote Link to comment Share on other sites More sharing options...
Buck531 Posted May 24, 2012 Report Share Posted May 24, 2012 My claim with Safeco back in 04 was about $8k. A year later they jumped my rates from $650 a year to over $1300. As soon as I saw that I dropped them. Quote Link to comment Share on other sites More sharing options...
jeffro Posted May 24, 2012 Report Share Posted May 24, 2012 My claim with Safeco back in 04 was about $8k. A year later they jumped my rates from $650 a year to over $1300. As soon as I saw that I dropped them. That is fucked up. Christ i hate insurance companies. Medical, Auto, Home, pet, etc.. you pay a lifetime of insurance for the ONE time you need it, then they up your rates. Quote Link to comment Share on other sites More sharing options...
Rocky31186 Posted May 24, 2012 Report Share Posted May 24, 2012 That is fucked up. Christ i hate insurance companies. Medical, Auto, Home, pet, etc.. you pay a lifetime of insurance for the ONE time you need it, then they up your rates. I agree. It's complete bull shit. Quote Link to comment Share on other sites More sharing options...
Buck531 Posted May 24, 2012 Report Share Posted May 24, 2012 That is fucked up. Christ i hate insurance companies. Medical, Auto, Home, pet, etc.. you pay a lifetime of insurance for the ONE time you need it, then they up your rates. That was the big hail storm we had back then. I had aluminum siding. Fucked it all up. Roof was old. They wouldn't budge on the price. That's why I had to have the house done and not the garage. It took over a year with my contractor and Safeco to finally get more money. That was a total fucking mess. Quote Link to comment Share on other sites More sharing options...
datsunissan28 Posted May 24, 2012 Report Share Posted May 24, 2012 There are numerous factors with this: Who is your carrier, your claim history, were there any additional risks the adjuster may have reported, etc. The date of loss and whether their was a catastrophe code assigned to your area and that date will come into play a lot? Quote Link to comment Share on other sites More sharing options...
KennyFKINPowerz Posted May 24, 2012 Report Share Posted May 24, 2012 Mine was 10k and my premium has gone up 100.00 a year ever since then. They keep telling us this every year when I call about the rate increase. It started at 450 a year through Metlife and we pay like 900 a year now through the same company. They also told me that the number of claims in your area will effect the rate as well. Im thinking how in the hell is that fair. Your gonna raise my rate over and over for the same claim and then increase it because my neighbor had a claim also. I need to go in to the insurance business. Quote Link to comment Share on other sites More sharing options...
datsunissan28 Posted May 24, 2012 Report Share Posted May 24, 2012 Mine was 10k and my premium has gone up 100.00 a year ever since then. They keep telling us this every year when I call about the rate increase. It started at 450 a year through Metlife and we pay like 900 a year now through the same company. They also told me that the number of claims in your area will effect the rate as well. Im thinking how in the hell is that fair. Your gonna raise my rate over and over for the same claim and then increase it because my neighbor had a claim also. I need to go in to the insurance business. There are quite a few discounts those first few years that my have fallen off. A lot of carriers have a discount for new customers, I believe you have a relatively new home - so that new home discount may no longer be in effect. Also they could be shifting strategies/coverage areas. I know the company I work for jacked up all their rates in coastal Carolinas to move away from that risk, so without dropping people they just forced them out with extra high rates. Quote Link to comment Share on other sites More sharing options...
Big A Posted May 24, 2012 Report Share Posted May 24, 2012 I too would like to know. I just had mine inspected and was told i have wind damage. Quote Link to comment Share on other sites More sharing options...
Buck531 Posted May 25, 2012 Report Share Posted May 25, 2012 File the claim. Get the house fixed. If you see a statement from them stating what you're premiums are going up to. Then before paying them, jump to a different company. That's what I did. Quote Link to comment Share on other sites More sharing options...
KennyFKINPowerz Posted May 25, 2012 Report Share Posted May 25, 2012 HA HA I just got my bill in the mail from the insurance company yesterday. Its up to 1,249.00 a year. It went up another 78.00 from last year. So I call them and they tell me that it is getting raised every year due to inflation. Yet another story from them. So they are saying that it will cost 268,000 to rebuild my house and I am covered for 146,00 on the contents. I fell out of my chair laughing. I paid 160 for my house 6 years ago and I have no where near 146k in contents. And when the latest audit came around last year it appraised for 143. I am following up on it today. This is just so blatant that its funny. Quote Link to comment Share on other sites More sharing options...
datsunissan28 Posted May 25, 2012 Report Share Posted May 25, 2012 HA HA I just got my bill in the mail from the insurance company yesterday. Its up to 1,249.00 a year. It went up another 78.00 from last year. So I call them and they tell me that it is getting raised every year due to inflation. Yet another story from them. So they are saying that it will cost 268,000 to rebuild my house and I am covered for 146,00 on the contents. I fell out of my chair laughing. I paid 160 for my house 6 years ago and I have no where near 146k in contents. And when the latest audit came around last year it appraised for 143. I am following up on it today. This is just so blatant that its funny. What a house is valued at and what it would cost to rebuild are two entirely different numbers. I got a quote from State Farm and their agent valued my house around $328,000. He used the exact same evaluation program as I have access to and I came in around $195,000. Ask them to send someone out to do a real evaluation first. Also your contents and detached structure coverage is typically based on a fixed percentage of your primary coverage. There are endorsements our there to raise and lower these that will affect your premium. Just out of curiosity which carrier are you with? Quote Link to comment Share on other sites More sharing options...
TurboGoKart Posted May 26, 2012 Author Report Share Posted May 26, 2012 There are numerous factors with this: Who is your carrier, your claim history, were there any additional risks the adjuster may have reported, etc. The date of loss and whether their was a catastrophe code assigned to your area and that date will come into play a lot? USAA, one previous homeowners claim for $3k, no additional risks, and there were quite a few houses in our area who had hail/wind damage from a storm on a specific date. At least one other with my same carrier, per my contractor. Quote Link to comment Share on other sites More sharing options...
datsunissan28 Posted May 26, 2012 Report Share Posted May 26, 2012 I do remember that pocket hail storm in Grove City, I would think you would be alright considering your with USAA. There is a reason they have the best ratings out there for property insurance. Quote Link to comment Share on other sites More sharing options...
nurkvinny Posted May 26, 2012 Report Share Posted May 26, 2012 I had a $10k claim two years ago (new roof) and mine did not increase. First claim I had ever made. Erie insurance. I would have had no issues shopping around and dropping them if the rates went up. I actually just compared them to Progressive since I have my cars and bike through them, and Erie was still cheaper, even with the auto+home discount from Progressive. Quote Link to comment Share on other sites More sharing options...
TurboGoKart Posted May 27, 2012 Author Report Share Posted May 27, 2012 I do remember that pocket hail storm in Grove City, I would think you would be alright considering your with USAA. There is a reason they have the best ratings out there for property insurance. Yeah I've been with them my whole life. I was on my parent's policy from 16-19y/o, then my own policy since then (9yrs). I have car and homeowners insurance through them. My rates used to be horrible....but then again I was on high risk for 3 years lol. But after I got married, and the high risk went away, it wasn't bad at all. Our policy went up about $20 a month after the $3k claim. Thanks for all the replies, I think I'm just going to have them do the work and see where the chips fall. Quote Link to comment Share on other sites More sharing options...
KennyFKINPowerz Posted May 30, 2012 Report Share Posted May 30, 2012 What a house is valued at and what it would cost to rebuild are two entirely different numbers. I got a quote from State Farm and their agent valued my house around $328,000. He used the exact same evaluation program as I have access to and I came in around $195,000. Ask them to send someone out to do a real evaluation first. Also your contents and detached structure coverage is typically based on a fixed percentage of your primary coverage. There are endorsements our there to raise and lower these that will affect your premium. Just out of curiosity which carrier are you with? Metlife. Quote Link to comment Share on other sites More sharing options...
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