Author Topic: Home insurance - annual ripoff brigade notice  (Read 676 times)

HeadedWest2029

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Home insurance - annual ripoff brigade notice
« on: January 10, 2019, 07:43:44 AM »
Last year home insurance went up 20%.  This year it's going up another 17%.  I've never filed a claim
Meanwhile, the real estate market in our area is down substantially so I guess it's time to shop

I'm GEICO for auto and Liberty Mutual is home insurance via GEICO.  I plan on asking GEICO for quotes thru their partnership program, but does anyone have any good / cheap home insurance providers they recommend?

thx

LadyMuMu

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Re: Home insurance - annual ripoff brigade notice
« Reply #1 on: January 10, 2019, 08:49:57 AM »
USAA. Or find an independent broker.

SimpleCycle

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Re: Home insurance - annual ripoff brigade notice
« Reply #2 on: January 10, 2019, 09:51:22 AM »
USAA. Or find an independent broker.

USAA has always had uniformly terrible rates for us.  I think an independent broker is a good option, or shopping it yourself.  Which company has the best rates depends on your area, the type of home, etc.  There's no "X is always cheapest" answer here.

Don't be fooled by "bundle and save" stuff - I usually have saved more with my insurance unbundled.

Sibley

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Re: Home insurance - annual ripoff brigade notice
« Reply #3 on: January 11, 2019, 08:30:58 AM »
Just start getting quotes from a bunch of different companies. Both bundled and separate. Yeah, it's a pain to track while you're doing it, but it will result in the best outcome.

YttriumNitrate

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Re: Home insurance - annual ripoff brigade notice
« Reply #4 on: January 11, 2019, 09:07:57 AM »
I'm convinced that the insurance companies have adopted the cable/internet/phone companies business model of starting out with teaser rates and then over the course of a few years jacking up the rates. Just like the  cable/internet/phone company, the way to beat them at this game is to switch providers every few years.

HeadedWest2029

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Re: Home insurance - annual ripoff brigade notice
« Reply #5 on: January 11, 2019, 09:21:24 AM »
I've come to the same conclusion. Every year I scratch my head a little and hope there will be a Vanguard of insurance where even if they don't have the absolute lowest rate, that company can be predictably near the lowest so you can just avoid this game annually.  Ultimately I took the lazy way this year and just increased the deductible to offset the premium jump.  So stupid that we have to do this every few years

DadJokes

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Re: Home insurance - annual ripoff brigade notice
« Reply #6 on: January 11, 2019, 10:29:14 AM »
I have never gotten great quotes from USAA. I am currently shopping my rates for home, auto, & life insurance, and USAA's quote for the same coverage was $500 more annually than what I currently have through Safeco. If I were to bundle auto, that could potentially drop to $400 more.

SlowAndSteady

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Re: Home insurance - annual ripoff brigade notice
« Reply #7 on: January 11, 2019, 12:53:38 PM »
+1 for the independent broker idea.  Last time I shopped for home insurance I shopped directly with two companies myself and let a broker shop with however many partners they have.  The broker saved me ~40% from the lowest of the two quotes I got on my own.

Lanthiriel

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Re: Home insurance - annual ripoff brigade notice
« Reply #8 on: January 14, 2019, 12:09:38 PM »
I get my home insurance through a third party but managed through Progressive, who is my auto insurance provider. They just re-upped my insurance for a third year with no change in premium.

Kapiira

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Re: Home insurance - annual ripoff brigade notice
« Reply #9 on: January 15, 2019, 01:51:31 PM »
I also found USAA to be expensive.  I get my homeowner's through Amica.  Rates have stayed pretty steady over the last 5 years.