Property Insurance

[danielyp29]

I just did it quickly online and it was with Homesite. Also noticed the roof deductible is 1% of dwelling coverage if the roof is 5 year or newer which mine is right at 5 years old. I'm currently with Nationwide and the price hike was fairly steep, but I would keep my $1000 deductible on everything including roof replacement. I did have my first 2 claims in the last 2 years, 1 auto and 1 homeowners. Before that I was clean for 6 years. Nationwide was easy to deal with on both.

Really feels like auto is where I could save money depending on loss of multi policy with Nationwide.

How much did your coverage limits go up? Companies have been pretty aggressive with the Replacement Cost valuations, so if your home coverage limits went up 15%, the overall premium would follow in addition to the rate taken

 

[zarnold56]

No coverage increases, dwelling and such same amount as last year

 

[twincyties]

...and record corperate profits?

I don’t think the insurance companies are exactly printing money right now. Some are actually becoming insolvent or have their carrier ratings downgraded which will soon serve the same effect because no one with a mortgage on their house can use them if their rating is too low

 

[chadly82]

I don’t think the insurance companies are exactly printing money right now. Some are actually becoming insolvent or have their carrier ratings downgraded which will soon serve the same effect because no one with a mortgage on their house can use them if their rating is too low

Yup, we need to have a good year this year with no major storms preferably.

 

[chadly82]

Today is not going to help the insurance crisis in iowa and everywhere else

 

[twojman]

Today is not going to help the insurance crisis in iowa and everywhere else

Was going to say the same things. Some pretty nasty hits today. Hopefully the fatalities are low.

 

[NWICY]

Yup, we need to have a good year this year with no major storms preferably.

This didn't age well

 

[cowgirl836]

Today is not going to help the insurance crisis in iowa and everywhere else

Told husband Omaha was getting hit and he said whelp there goes the bonus for next yr.

 

[LostinIowaCity]

I hate to revive this thread, but just got my renewal notice and my premium is up over 30% with West Bend. Insurance agents of CyFan, what do you think? I need to have my agent shop it, but it looks like Progressive Direct was going to be 10% cheaper even after including West Bend's 5% no claim refund.

 

[chadly82]

I hate to revive this thread, but just got my renewal notice and my premium is up over 30% with West Bend. Insurance agents of CyFan, what do you think? I need to have my agent shop it, but it looks like Progressive Direct was going to be 10% cheaper even after including West Bend's 5% no claim refund.

Take a look at United mono line with progressive car insurance....just a tip Thats if you have the agent with that option.

 

[Jnecker4cy]

I hate to revive this thread, but just got my renewal notice and my premium is up over 30% with West Bend. Insurance agents of CyFan, what do you think? I need to have my agent shop it, but it looks like Progressive Direct was going to be 10% cheaper even after including West Bend's 5% no claim refund.

I echo Chadly82, find and agent that can do the Universal Home and Progressive Auto. I am biased but I would choose an agent with a Progressive Policy, don't go Progressive Direct. That West Bend increase is in line maybe a little lower than some clients of mine I have seen.

 

[Sparkplug]

Met with my agent yesterday. New changes include hail damage claims. Cosmetic damages are not covered and must be able to prove the age of the shingles on a building. Farm buildings over 30 years are basically uninhabitable. Most buildings were insured at far less than what it would cost to replace. Even had to insure the light pole Can’t wait to get the new total

 

[Jnecker4cy]

Met with my agent yesterday. New changes include hail damage claims. Cosmetic damages are not covered and must be able to prove the age of the shingles on a building. Farm buildings over 30 years are basically uninhabitable. Most buildings were insured at far less than what it would cost to replace. Even had to insure the light pole Can’t wait to get the new total

Farm Policy? I am guessing many farm buildings being insured at ACV instead of replacement cost.

Fixing Cosmetic damages on roofs is really a big reason the Home Insrance market in Iowa is where it is today. Many changes regards to insuring roofs being made by companies right now.

 

[LostinIowaCity]

Yes, in addition to the 30%+ increase, West Bend raised the deductible on hail and switched the roof to ACV.

 

[1UNI2ISU]

ACV roofs will be standard within the next 5 years and, frankly, should be.