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[coolidge]

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!

[JTS717]

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.

[aries9245]

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..

[Sluggo]

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.

[slimjim]

 

[WoodMOJoe]

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.   

[Sluggo]

Pekin insurance, thru Fleis insurance.  I want to say they are in Illinois.

[WoodMOJoe]

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..."

[Shrek1112]

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/ 

[WoodMOJoe]

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.     

[Jwood]

My insurance charges a yearly $50 flat rate fee for outdoor boilers.

[Shrek1112]

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.

[WoodMOJoe]

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.   

[Shrek1112]

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  

[WoodMOJoe]

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.