Outdoor Wood Furnace Info
General => General Discussion => Topic started by: coolidge on February 21, 2015, 04:53:09 PM
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Wife told me the insurance company for our house would like to talk with me. Well yesterday I called them and they want us to raise our policy too 400 k for the house. So I start asking stupid questions like if the house burns flat what will I get, they say 85 percent that's what they say it will cost to rebuild. My next stupid question, how the hell do they figure it's going to cost 300 k to rebuild? And why would I pay on a 400 k$ policy if I am not going to get it.
Insurance. Legalized form of crime!
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I called the insurance company and raised my deductible from $2,000 to $5,000 and my yearly payment went down about 30%. I figured I wouldn't make a claim unless there is extensive damage and could easily make up the difference by doing the work myself.
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There all scam artist insurance bull they make there own rules as they go! And God forbid u make a claim u go high risk and nobody wants to insure u..
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I would find a better agent if I were you. My house,with land and outbuildings was assessed at 525,000. If my house burns or flies away they will pay me not only assessed value but +10% due to having everything insured with them. They will also pay 90,000 for personal belongings in the house and another $85,000 for vehicles in the garage. Room and board and vehicles while shopping for new vehicles and while rebuilding house. Best part is that my wood stove is 15' from my house and the woodshed its in is 6' away from my house. I would have to say that if my house were to burn it would be thanks to my woodshed starting on fire but they are fine with it. They even cover loss of firewood I have stored in the woodshed. $1200/year for my coverage not including vehicles. Never hurts to shop around.
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:post: :post:
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I would find a better agent if I were you...$1200/year for my coverage not including vehicles. Never hurts to shop around.
Wow. Please post or PM me the company/broker you are with if you can, thanks.
I just went through the yearly home insurance obstacle course myself. :bash: :bash: :bash:
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Pekin insurance, thru Fleis insurance. I want to say they are in Illinois.
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Pekin insurance, thru Fleis insurance. I want to say they are in Illinois.
Thanks Sluggo.
Unfortunately they don't do business in my state (MO)..."we have now grown to offer our competitive insurance protection to insureds in six states: Arizona, Illinois, Indiana, Iowa, Ohio, and Wisconsin..."
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Pekin insurance, thru Fleis insurance. I want to say they are in Illinois.
Thanks Sluggo.
Unfortunately they don't do business in my state (MO)..."we have now grown to offer our competitive insurance protection to insureds in six states: Arizona, Illinois, Indiana, Iowa, Ohio, and Wisconsin..."
WoodMOJoe, not sure who you are with now but I have AutoOwners, rates, coverage and claim service has been wonderful.... and it looks like they write in Missouri
http://www.auto-owners.com/ (http://www.auto-owners.com/)
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Thanks Shrek, I have been with Auto/Owners (provided through a local broker) for about 10 years now for our home and cars. Never had a claim (knock on wooden head), but have had some issues with communication and service. This year they forgot to complete the credit card transfer on the Homeowners Policy so we got a Cancellation Notice (they got that fixed)...but they did the cc transfer on the Auto Policy. Both policies come due on the same day so not sure how the broker could have screwed that up.
Main issue I have with A/O is yearly increases of 10%-20%, with no (or minimal) increases in coverage. We did a little shopping this year but could not find another company that would insure a home with wood/coal/solid fuel heating. Most (or all) of those other companies would insure a home with a fireplace with low or no upcharge...but if you have an outdoor boiler no go. ???
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My insurance charges a yearly $50 flat rate fee for outdoor boilers.
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Thanks Shrek, I have been with Auto/Owners (provided through a local broker) for about 10 years now for our home and cars. Never had a claim (knock on wooden head), but have had some issues with communication and service. This year they forgot to complete the credit card transfer on the Homeowners Policy so we got a Cancellation Notice (they got that fixed)...but they did the cc transfer on the Auto Policy. Both policies come due on the same day so not sure how the broker could have screwed that up.
Main issue I have with A/O is yearly increases of 10%-20%, with no (or minimal) increases in coverage. We did a little shopping this year but could not find another company that would insure a home with wood/coal/solid fuel heating. Most (or all) of those other companies would insure a home with a fireplace with low or no upcharge...but if you have an outdoor boiler no go. ???
Thats a bummer to hear, I will talk with this smokin hot gal I live with (she works at corporate HQ for AO) and see if she has any recommendations or suggestions. I have learned that each states insurance laws a very different and have a major effect on premium pricing.
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Thanks Shrek, I have been with Auto/Owners (provided through a local broker) for about 10 years now for our home and cars. Never had a claim (knock on wooden head), but have had some issues with communication and service. This year they forgot to complete the credit card transfer on the Homeowners Policy so we got a Cancellation Notice (they got that fixed)...but they did the cc transfer on the Auto Policy. Both policies come due on the same day so not sure how the broker could have screwed that up.
Main issue I have with A/O is yearly increases of 10%-20%, with no (or minimal) increases in coverage. We did a little shopping this year but could not find another company that would insure a home with wood/coal/solid fuel heating. Most (or all) of those other companies would insure a home with a fireplace with low or no upcharge...but if you have an outdoor boiler no go. ???
Thats a bummer to hear, I will talk with this smokin hot gal I live with (she works at corporate HQ for AO) and see if she has any recommendations or suggestions. I have learned that each states insurance laws a very different and have a major effect on premium pricing.
I would be very interested to hear what she has to say, thanks.
Wow...smokin hot and connections to the insurance industry...you might have a keeper there Shrek. :thumbup:
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WoodMOJoe -I posed a couple of questions to her:
1. Do we need a rider or to claim the OWF as we did the indoor WF we just replaced-answer no its outside so there is no fire hazard to the home. This may be a dumb question but are you making it clear that the solid fuel heat is outside the structure of the home?
2. Does a broker (she said it should be an independent agent & could be just different terms for same thing) add a service charge of fees for more profit- answer was no on this as well, the premium is the premium set by the company with a built in margin for the agents
3. Any reason someones yearly cost would increase with out a claim- answer was unknown as there are to many variables and she felt a good answer could not be given without knowing all the facts behind the insured and the state regulations.
Overall I dont think I helped you at all, sorry. She is a keeper for sure almost 21 years together :thumbup:
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Shrek...
1.) Yes, I definitely made it clear that the furnace is outside and 50' from the house. I believe they requested pics of the furnace when I went online with my OWB (in March of 2014). Could you ask her if A/O has a minimum distance required for the OWB to be from the house? I went with 50' because that is the furthest I had ever heard anyone else say for their insurance distance requirement. I don't think the Agency ever asked but I probably told them how far it was from the house.
2.) Yes, my "broker" is an Independent Agent, I just used the wrong term. Any idea on the "agent's" profit? I would guess it to be in the 10%-15% range.
3.) I am wondering what kind of cost increases she, industry-wide (or anyone else, personally) has seen in their Home Owners Policies in the last 10 years or so. Mine has been increased every year, usually around 10%, or more, and that is with ZERO claims. A/O bumps up my dwelling policy limit (automatically...maybe due to "inflation"?) 1 or 2 percent a year, but the premium is increased a LOT more than that.
Appreciate the info, it's hard to find people that are really on the "inside" of the insurance racket...umm...shakedown..urr...industry that will talk about it.
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I will inquire further and get back to you. I often joke with her about the "racket" as well and when something might break or fail I always say " that's what insurance is for" it makes her blood boil! >:D
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WoodMOJoe, after some discussion and a bit of interweb looking the reasons you are seeing a regular increase is from howeowners insurance being priced to low for nearly 10 years across all companies. It seems like they are making up for lost revenue and high claims costs. Yes even though guys like you and I didnt have claims we still get to foot part of the bill, just like taxes, paying for things for others. :bash: I also found this article that may help explain some of it
http://www.iii.org/article/why-are-homeowners-insurance-rates-rising (http://www.iii.org/article/why-are-homeowners-insurance-rates-rising)
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Hey thanks for the article, good read. Sounds like insurance co. propaganda to me..but I am biased. ;)
And don't even get me started on taxes and how they are distributed... :bash:
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:thumbup:
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And don't even get me started on taxes and how they are distributed... :bash:
Taxes are distributed in a way that buys the most votes for whatever party is in control at that particular time.
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Isnt that true I think that a very large percentage of politicians are in it for what ever works for them never mind what the people that voted them in want.
I just received my insurance renewal yesterday and a big increase, no reason in the world for the increase, going to talk to the agent tomorrow.
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Isnt that true I think that a very large percentage of politicians are in it for what ever works for them never mind what the people that voted them in want.
I just received my insurance renewal yesterday and a big increase, no reason in the world for the increase, going to talk to the agent tomorrow.
Did you see this link, stll doesnt make sense but it is what the insdustry is saying the reason is
http://www.iii.org/article/why-are-homeowners-insurance-rates-rising (http://www.iii.org/article/why-are-homeowners-insurance-rates-rising)
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And don't even get me started on taxes and how they are distributed... :bash:
Taxes are distributed in a way that buys the most votes for whatever party is in control at that particular time.
Hear, hear! :thumbup:
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I went thru some of this myself recently. Shopped around to save a couple $$$$ on insurance and found one company cheaper ($300/yr) for 3 cars and two houses. Needed to inspect the property before they would run the policy and made me get an inspection on the OWB to make sure it met their requirements. But, they could not specify what those requirements were. Just needed an inspection from a licensed installer. Michigan does not have licensed installers for OWB. HVAC, plumbing, boiler, yes. But not OWB. So after $150 inspection, that simply stated it was installed correctly and working correctly, I saved a whopping $10/month. BF Deal!!!
Around here, it aint so easy to just switch companies as they are all crooked as twisted willow trees. I am not calling out your woman Shrek, I wish I had inside help on this stuff. I hear that because Detroit is so crime ridden that my rates reflect that. I am over 100 miles from that cesspool. And they won't let us give to Canada for trade for that new bridge they want to build.
All justified and served with a smile like they just did you a huge favor by relieving you of a little more of your paycheck. And they are legally required to take it from you.
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oldc...let me get this straight...so it cost you $150 to "save" $10 a month?!?!
That sucks. If the jackasses in our government(s) can't figure how to kill the wood burners with environmental legislation they will be able to do it through the insurance aspect...and it won't be long the way things look. :bash:
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I went thru some of this myself recently. Shopped around to save a couple $$$$ on insurance and found one company cheaper ($300/yr) for 3 cars and two houses. Needed to inspect the property before they would run the policy and made me get an inspection on the OWB to make sure it met their requirements. But, they could not specify what those requirements were. Just needed an inspection from a licensed installer. Michigan does not have licensed installers for OWB. HVAC, plumbing, boiler, yes. But not OWB. So after $150 inspection, that simply stated it was installed correctly and working correctly, I saved a whopping $10/month. BF Deal!!!
Around here, it aint so easy to just switch companies as they are all crooked as twisted willow trees. I am not calling out your woman Shrek, I wish I had inside help on this stuff. I hear that because Detroit is so crime ridden that my rates reflect that. I am over 100 miles from that cesspool. And they won't let us give to Canada for trade for that new bridge they want to build.
All justified and served with a smile like they just did you a huge favor by relieving you of a little more of your paycheck. And they are legally required to take it from you.
Oldchenwth, no offense, I dont always agree with her industry either, we get in some rather lenthy debates and I just have learned to say "you might be right dear" and let it go. The other thing that I often forget is that the way insurance companies have money available to pay claims AND more importantly make there profit is they take our premium payments and invest in the market. So its a huge twisted mess of our hard earned money often making them more easy money.
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I went thru some of this myself recently. Shopped around to save a couple $$$$ on insurance and found one company cheaper ($300/yr) for 3 cars and two houses. Needed to inspect the property before they would run the policy and made me get an inspection on the OWB to make sure it met their requirements. But, they could not specify what those requirements were. Just needed an inspection from a licensed installer. Michigan does not have licensed installers for OWB. HVAC, plumbing, boiler, yes. But not OWB. So after $150 inspection, that simply stated it was installed correctly and working correctly, I saved a whopping $10/month. BF Deal!!!
Around here, it aint so easy to just switch companies as they are all crooked as twisted willow trees. I am not calling out your woman Shrek, I wish I had inside help on this stuff. I hear that because Detroit is so crime ridden that my rates reflect that. I am over 100 miles from that cesspool. And they won't let us give to Canada for trade for that new bridge they want to build.
All justified and served with a smile like they just did you a huge favor by relieving you of a little more of your paycheck. And they are legally required to take it from you.
Oldchenwth, no offense, I dont always agree with her industry either, we get in some rather lenthy debates and I just have learned to say "you might be right dear" and let it go. The other thing that I often forget is that the way insurance companies have money available to pay claims AND more importantly make there profit is they take our premium payments and invest in the market. So its a huge twisted mess of our hard earned money often making them more easy money.
A few things I learned right quick from getting rear ended last fall.
1: If you let the other guys insurance company screw you they most certainly will without a smile even. And that's just them trying to settle on my truck, the health/pain and suffering hasn't even been discussed yet.
2: Lawyer up before number one happens, that way your own lawyer can try to screw you instead of a strangers insurance company.
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:post:
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We have been very happy with USAA for all of our insurance and banking. If you are eligible for them try them. I think you get eligibility even if a parent was military not just you or your spouse.
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We have no fault insurance here in Ontario.
They thought it would be cheaper by taking the litigation out of the process.
Well,, no ,,,it's much the same,but you sue yourself.
In order to do that, you have to get the ambulance chasers involved .
These guys have poped up everywhere,,, and now it's costing everyone more .
So it's a vicious circle.
Banks and insurance what a racket.
Take money in at 1.7% lend it out at 5%.
Take your premiums and make you hire a lawyer to get your rehab started .
Both needed in our society, but should be improved.
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Joe,
Yup, but the upside is it was a one time deal soooo next year I will save my $110. I, apparently, don't look at the big picture. My tiny brain can not conceive next years savings.
We are no fault here in Michigan also. Which means if you are less than 51% at fault (which is never) the insurance bills you and goes after the other drivers insurance to pay you back (NEVER) and because of litigation, your rates go up. Even though you got tatered by some fool texting, you were at fault for being on the same road at the same time (50%) putting you over the 49%. = sorry about your luck.
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Yup just like at work, driving for the post office ,,,
No such thing as a non preventable accident.
I was outta the truck making a delivery one time,,, and got tagged ,,,.......PREVENTABLE!!!!
Go figure,,,,,, said I should not of parked where that guy could of hit me.........???.