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  • insurance hikes

    Well, as a young person, I have never really been all that active in researching home owners insurance, but as of today I am convinced that it was one of those things that has to be done... This thread might seem to be more related to a blog than a Sand Box thread.

    Now to the point, in the past year Travelers Insurance gained permission in Pennsylvania to raise their prices by 30% at 3 different times. The outcome is nearly doubling the entire price for the insurance. I've heard that other companies are also doing this based on statements that there have been some massive payouts in the past year, so they were forced to raise their prices.

    If you are willing to continue, I would be appreciative. I am curious, but who else has noticed such radical changes in their insurance and what provider do you have?



    Interested in listening to guitar playing and a good conversation, look for me on TS.

    "Hope is for the weak. I hope for nothing. I work for things. That is the only way for events to unfold." -Cleverbot

  • #2
    Re: insurance hikes

    So they raised their rates 90% over a year?

    Considering back to back floods pretty much... I can see why.

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    • #3
      Re: insurance hikes

      Insurance rates vary widely by state as each state regulates the rates charged. I have my homeowner insurance bundled with my car insurance through Geico. I'm in MA. So far I haven't seen a rate increase since we purchased 14 months ago. You might want to look into Geico. When I switched I saved a boatload of money. I know, I know...sounds like the commercial...but it's true. Hopefully I'll never need to file a claim but that's when you really find out how good the insurance company is.
      sigpic
      |TG-1st|Grunt
      ARMA Admin (retired)
      Pathfinder-Spartan 5

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      • #4
        Re: insurance hikes

        As a member of the US Army, and I believe any branch of the Armed Forces, you have the option of USAA. My wife and I have been with them for almost four years and can not say a single bad thing so far. Our rates for two full coverage vehicles, 2000 Chevy Blazer and 2003 Honda Civic, is lower than alot of other insurance companies with just a single vehicle and full coverage. We have had another vehicle that was totaled, the blazer was rear ended, and another accident in those four years. USAA has yet to raise our rates, they constantly keep us informed of changes to claims, and it has never been a hassle. One of the best parts of them is they do insurance for just about everything, they do investments, banking, savings, loans, and deal with almost any other financial needs or concerns one has. Its one stop shopping for everything concerning your money.

        |TG-IRR|

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        • #5
          Re: insurance hikes

          I also have USAA (married to a daughter of a vet) and not only is my car insurance cheaper, but they also give back the excess that isn't saved for future payouts based on their income and disbursement of payments. It's like $20 back a year on $800 or so in insurance for the year, but it is the difference between not going for a profit and going for record profits like the for profit insurance industry. They are also responsive and easy to work with.

          If the insurance companies in Pennsylvania were competent they would have accurately predicted the chance of disaster and they wouldn't need to raise rates. Like the cable companies, they oversold their coverage and those with coverage get screwed when they are overwhelmed.
          |TG-6th|Snooggums

          Just because everyone does something does not mean that it is right to do.

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          • #6
            Re: insurance hikes

            Snooggums, you probably are right to some extent. I can say that back sometime in January there was a article written (by newsweek?) that spoke of possible pending increases in rates thanks to the insurance companies' insurers putting the screws to some of the major companies... Too bad, some of us did not catch this hike sooner. :(



            Interested in listening to guitar playing and a good conversation, look for me on TS.

            "Hope is for the weak. I hope for nothing. I work for things. That is the only way for events to unfold." -Cleverbot

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            • #7
              Re: insurance hikes

              I have Nationwide for my renters insurance and it sucks. The rate is fine, but the policy is rather limited. Also my agent is completely unresponsive. I would not recommend Nationwide and I'm planning on switching companies after my policy is up.


              TG-18th 18th SF Operational Detachment Delta

              If you're playing the game, be in the correct TeamSpeak Channel.

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