Increase in insurance

[Fernando]

Because I had a claim, my insurance will increase for sure so I was proactive.
I went to a State Farm office and inquire about their rates. The agent said State Farm no longer make new insurance. WTF.
A lot of insurance companies not making new policies.
Seems like I may be stuck with my current insurance company.

 

[Fernando]

Looking at my insurance, I noticed my condo insurance only increased like 1% in past few years. My home increased 10% this year.
Biggest increases are my commercials which have gone over 10%.
Something insurance companies know that we don't know?

 

[Terrel L. Shields]

Bundled insurance - we quit

 

[glenn walker]

I have another commercial insurance coming due and it increases like usual.
Past few years it increased 3.97% and 5.39%. Is that what y'all experiencing.
The cost to rebuild is like $360/sf.
Not trying to be cheap...ok I am penurious in cutting my bill. The chance of completely burned down is low.
Do you think it's a good idea to ask for lower fee for lower replacement cost?

If you have a mortgage on it no-and its liability that is your biggest loss not a fire. Just try and sell it to some sucker as its a loser.

 

[glenn walker]

Looking at my insurance, I noticed my condo insurance only increased like 1% in past few years. My home increased 10% this year.
Biggest increases are my commercials which have gone over 10%.
Something insurance companies know that we don't know?

Nope our two condos went up more than the houses-maybe you have no insurance and just a policy the HOA pays LMAO

 

[Fernando]

I filed a claim last year.
This year the insurance went up 31%.
Is that too high? Should I shop around?

 

[glenn walker]

Yeah but most wont take you in CALI if you have filed a claim in the last 5 years .

 

[Fernando]

Yeah but most wont take you in CALI if you have filed a claim in the last 5 years .

Many companies stopped making new policies in CA.
I actually thought my premium would have been much much higher considering my claim payout.

 

[Fernando]

I'm asking one of my insurance brokers to see if I can get lower premium on property I had claim last year. Shopping for lower fee.
Should I tell the agent that I had a claim or not mention it?

 

[ITVSME]

You're going to be asked, and at some point, you'll have sign an application confirming accuracy of information.
Best not to waste everyone's time by being coy on the initial call.
Carriers share claims information.