Property Insurance

[1UNI2ISU]

My property insurance is going up 36% from $1750 to almost $2400. That with along with a 24% increase in auto insurance has me looking around. I could save with progressive $300 every 6 mo on auto and $200 on homeowners though I have some questions on home coverage. Any experience with progressive on both home and auto?

Their auto coverage is fine as long as you can be patient during the claims process, nothing moves fast for them and you're going to be on their timeline. They're very fair as long as you stay within their shop network, they will try to nickel and dime shops not in their network but usually end up giving in, it just takes some effort.

As for the homeowner's, unless your house is falling down and they are literally the only option due to condition, don't do it. Absolute last resort. Poor coverage offerings and they use adjusting services whose only mission is to pay as little as they possibly can. It's a bad product from a company that probably shouldn't be in that space.

 

[Jnecker4cy]

Their auto coverage is fine as long as you can be patient during the claims process, nothing moves fast for them and you're going to be on their timeline. They're very fair as long as you stay within their shop network, they will try to nickel and dime shops not in their network but usually end up giving in, it just takes some effort.

As for the homeowner's, unless your house is falling down and they are literally the only option due to condition, don't do it. Absolute last resort. Poor coverage offerings and they use adjusting services whose only mission is to pay as little as they possibly can. It's a bad product from a company that probably shouldn't be in that space.

Progressive offers 2 home products, Homesite which I would not touch with a 10ft pole and some agents have access to ASI or Progressive Home, that is a much better product. ASI is only offered thru the agent network, not online.

 

[1UNI2ISU]

Progressive offers 2 home products, Homesite which I would not touch with a 10ft pole and some agents have access to ASI or Progressive Home, that is a much better product. ASI is only offered thru the agent network, not online.

I don't even like the ASI product and I've got access to it as an agent. It's fine if you want the bare minimum and don't have big expectations but there are just so many better choices for protecting your home even if they cost more. There are places to cut costs and there are places where it's okay to spend a little more, IMO.

 

[Jnecker4cy]

I don't even like the ASI product and I've got access to it as an agent. It's fine if you want the bare minimum and don't have big expectations but there are just so many better choices for protecting your home even if they cost more. There are places to cut costs and there are places where it's okay to spend a little more, IMO.

It is not my goto, but always add the Platinum package if I do write one. But night and day different than the Homesite product.

 

[Remo Gaggi]

Everyone is paying a lot more for insurance, regardless of whatever company you’re with. My recommendation is FB, great agent and superb claims when you have a loss. Just my two cents worth.

 

[chadly82]

Their auto coverage is fine as long as you can be patient during the claims process, nothing moves fast for them and you're going to be on their timeline. They're very fair as long as you stay within their shop network, they will try to nickel and dime shops not in their network but usually end up giving in, it just takes some effort.

As for the homeowner's, unless your house is falling down and they are literally the only option due to condition, don't do it. Absolute last resort. Poor coverage offerings and they use adjusting services whose only mission is to pay as little as they possibly can. It's a bad product from a company that probably shouldn't be in that space.

Also just as an FYI, progressive is requiring a home inspection 60 days prior to underwriting decision as well. I tried quoting another one out yesterday and for obvious reasons most dont want to go through that.

 

[1UNI2ISU]

Also just as an FYI, progressive is requiring a home inspection 60 days prior to underwriting decision as well. I tried quoting another one out yesterday and for obvious reasons most dont want to go through that.

Yikes. I haven't quoted one in a while, good to know!

 

[chadly82]

Yikes. I haven't quoted one in a while, good to know!

yeah unless I get a new homeowner I dont even bother now, Ive mostly been doing progressive auto and Universal or Auto owners with home. Fun stuff.....

 

[Jnecker4cy]

Also just as an FYI, progressive is requiring a home inspection 60 days prior to underwriting decision as well. I tried quoting another one out yesterday and for obvious reasons most dont want to go through that.

Not always. One new requirement is the roof has to be 5 years or newer, or yes auto pre bind home inspection. Some quotes with roofs new within 5 years can be written without inspection. Just FYI.

 

[Jnecker4cy]

yeah unless I get a new homeowner I dont even bother now, Ive mostly been doing progressive auto and Universal or Auto owners with home. Fun stuff.....

Me also, Universal has been a nice new option for us, mostly using Progressive for auto. Although Universal has some weird underwriting things also. Also been using AAA lately again.

 

[1UNI2ISU]

Me also, Universal has been a nice new option for us, mostly using Progressive for auto. Although Universal has some weird underwriting things also. Also been using AAA lately again.

Acuity and Grinnell/County Mutual have been the winners lately.

 

[chadly82]

Acuity and Grinnell/County Mutual have been the winners lately.

Yeah Acuity has been a large increase from what Ive been told but unfortunately my agency isnt appointed with them.

 

[zarnold56]

Progressive offers 2 home products, Homesite which I would not touch with a 10ft pole and some agents have access to ASI or Progressive Home, that is a much better product. ASI is only offered thru the agent network, not online.

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.

 

[1UNI2ISU]

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.

Bad news. Nationwide is going to a 1% wind/hail deductible and a fairly aggressive depreciation schedule on roofs the middle of this year. You'll probably keep the $1000 for this renewal but it's coming.

I'd kill to be able to give somebody good news about something in the insurance world.

 

[chadly82]

Bad news. Nationwide is going to a 1% wind/hail deductible and a fairly aggressive depreciation schedule on roofs the middle of this year. You'll probably keep the $1000 for this renewal but it's coming.

I'd kill to be able to give somebody good news about something in the insurance world.

Its incredible how much time I am spending doing quotes right now and nobody is happy either way regardless obviously! You're pretty spot on.

 

[cysmiley]

After EMC dropped all their personal lines, I went totally online with Safeco (owned by Liberty Mutual) EMC sent me a letter recommending them, my local agent said I needed to go with some Michigan outfit. Told her Nope, quote me Safeco. She said no, her agency would not quote Safeco, I said BYE-BYE, and went online to Safeco, now I deal with some guy in Salt Lake.

Over the last 5 years, have seen increases in line with inflation. And I get to choose Property Damage liability limits, so I get to choose based on price and what I believe my actual replacement costs will be, if I have a loss, I will be the one dealing with the contractor, not an insurance agent, which I like. And I have a 3 million liability umbrella with them for like 400.

I did see an increase in my wife's car premium this year. She was driving when some guy ran a stop sign on 163 last year, and we TBoned him at 65 MPH, It was about 10% increase for her new car. Safeco covered her car under collision coverage and is dealing with Progressive (other drivers coverage) on the matter. Gave me Blue Book value, plus scrap value and our deductible. Still have not heard from Progressive on medical bills, so the lawyers are going to get rich.

PS They replaced her old windshield for free!

 

[BoxsterCy]

Bad news. Nationwide is going to a 1% wind/hail deductible and a fairly aggressive depreciation schedule on roofs the middle of this year. You'll probably keep the $1000 for this renewal but it's coming.

I'd kill to be able to give somebody good news about something in the insurance world.

They almost have to. Every single house in my neighborhood is getting a new roof after the golf ball sized hail last year. The roofing stuff is a racket and not sustainable.

Wonder what insurance will be on the couple of rich peoples house across the street from me. Two big ass English tudors with cedar shake roofs. Per owners the more straight forward one is $180K for the roof. Those owners were speculating the more fancy one, sea wave pattern with curved edges, would be north of $300K. They've been working on the fancy one for several weeks now

 

[Jnecker4cy]

Bad news. Nationwide is going to a 1% wind/hail deductible and a fairly aggressive depreciation schedule on roofs the middle of this year. You'll probably keep the $1000 for this renewal but it's coming.

I'd kill to be able to give somebody good news about something in the insurance world.

I am seeing most carries go to Deductibles higher than $1000 on wind and hail losses. I think a Depreciated Roof Schedule is coming for most carriers soon. Many roofers will soon be put of business in Iowa. Cosmetic roof damage also will not be covered, which in many ways makes sense.

 

[cdnlngld]

Increased risk if natural disaster x increased cost of materials x increased cost of labor = higher premiums

...and record corperate profits?

 

[1UNI2ISU]

...and record corperate profits?

Even the mutuals are doing it. It's not a profit issue, companies have lost their shirts the last couple of years and are really leaning on investments and cash reserves. It's ugly.