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Discussion Starter · #1 ·
I recently called my insurance man because a limb fell on the edge of the roof and knocked some sofit loose, and while he was up on the roof he found hail damage and told me to call in a claim for hail damage and I would get a new roof. Anyway, there was one claim for the limb, and another for the hail damage. Got checks for almost $5000, but now I wonder how much my insurance will go up. Some of my friends say it shouldn't go up.
 

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Mine didn't go up; I got dropped.
 

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I live in Florida and for the most part it goes up every year, claim or no claim. A few years ago my sister had water damage from a bad storm (Pittsburgh) that went through. She was told by a someone that it would not be covered by Home owners Insurance. I told her to file the claim as storm damage (which it was) and it was approved. Now, did her rates go up, yep, sure did but they were going to go up anyway.

Here in Florida you just expect it to go up every year, all you can hope for is that it isn't too bad of a hike.

Dennis P.
 

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My insurance went up %15 AFTER I won my lawsuit against them for Ike damages.

I was expecting it, so it was not a surprise.

:cool:
 

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After the tornado in Moore and Norman, OK in May of 1999, USAA did not raise my rates.
They canceled my coverage and fixed the hosue only to have it sit on the market for the next 18 months. Then I had to sell short.
Ahh, good times.
 

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I had a bad run of luck. House roof, barn roof and sheds, etc, damaged three times. Then the shed (gun shop) burned down.
Each time the insurance paid replacement cost in full (actually made money). They never raised my rates. But next year they wouldn't renew the insurance for the whole area.

Insurance companies have done that a couple times. Just wouldn't renew the insurance for a hard hit area.

Come to think of it my house roof shingles were replaced a couple years ago because of hail and my water well pump was knocked out by lightning. My rates weren't raised (anymore than I figure is a normal increase year to year).

Just for the heck of it I just checked mine for the last five years. In five years the insurance increased a hundred dollars. I don't guess that's bad.
 

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In my experience 2 claims and you are done. One thing has me puzzled, how is what sounds like a simple soffit problem an expensive enough of a fix to surpass your deductible.
 

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In my experience 2 claims and you are done. One thing has me puzzled, how is what sounds like a simple soffit problem an expensive enough of a fix to surpass your deductible.
Yep, I'm not filing a claim until I'm staring at a smoldering heap of ashes.

My MIL filed two claims in a year for a plumbing backup destroying expensive educational materials. I doubt the $1500 she got from the insurance co, was worth the aggrivation of being dropped and having to get "high risk" coverage.
 

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Yep, I'm not filing a claim until I'm staring at a smoldering heap of ashes.

My MIL filed two claims in a year for a plumbing backup destroying expensive educational materials. I doubt the $1500 she got from the insurance co, was worth the aggrivation of being dropped and having to get "high risk" coverage.
Yup.. that's why I don't file silly claims. I "self insure" most stuff.. even if my insurance would cover it. Like was said by another poster, if I'm looking at a pile of smoldering rubble, I'll file a claim.

IGF
 

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In short, Most homeowners rates are calculated from the loses of a specific group, usually by zip codes or Fire Ratings. They total the losses, add $$ for higher trends, legal costs, catastrophe expenses etc; then spread the costs, increase or decrease, over the specific group. Thats the short uncomplicated version.

So your premium can go up without a loss or with a loss. Some states allow surcharges for multiple claims (non-weather related).

:wavey:

red
 

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After the tornado in Moore and Norman, OK in May of 1999, USAA did not raise my rates.
They canceled my coverage and fixed the hosue only to have it sit on the market for the next 18 months. Then I had to sell short.
Ahh, good times.
As a USAA customer as well, that's disappointing to hear how they treated you.
 

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Yeah, the best I can figure your rates are figured out by aliens disguised as actuaries. They are locked up in a dungeon, never to see the light of day. Nobody has ever seen one in person.
 

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Mine didn't go up; I got dropped.
Same here.We had metlife homeowners,had it many many years without any claims.We filed a claim because our yard flooded and the dampness ruined the garage roof support structures.Its a wood garage with a gravel floor.Guy came in,looked at the garage and the policy and left.A week later,we got a letter saying they dropped us for homeowners.Said it was an act of god or somethimg to that effect.

I ended up hiring some help and we just rebuilt the roof and support beams,cost 1500 bucks.Then we got a different insurance and we pulled the rest of our stuff from them,the life and the retirement stuff.
 

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My brothers house burnt. A little over 600K in damages. He was with Farmers. They paid the claim and cancelled him.
 

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Discussion Starter · #17 ·
My insurance has been going up about $60 a year for no reason. I inherited the house about 3 years ago, lost the senior discount that Grandpa had, so I guess its went up about $300 since I have owned it. That limb damage ended up be a piddly $200 check after they took out the deductable, so I wonder if I can give it back and have them take it off? I may stop by their office tomorrow and talk with them as the house and my cars have been with them for a long time.
 

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Look at it from the insurance company's perspective: if you have one claim every few years, you're ok. They're making money off you and you're probably a reasonable risk. If you start having multiple claims, then why would they want to stick with you? Maybe it is just bad luck, but for whatever reason you sure look like a riskier person now. I'd run if I was them. Sucks, but it is capitalism.

(I've had state farm do a non-renewal on homeowner's insurance after a couple significant claims in one year. They also lost a long-term auto insurance customer when they did that, so maybe it wasn't in their best interest. It is a cold heartless business. They really just run the numbers and let their computer and actuaries tell them what to do.)

Moral of the story: don't file a claim unless it is big enough that you won't mind switching companies over it. You've just got to eat the small ones. Go with a high deductable. You really just want something in case your house burns down or something really major, not the little stuff.
 

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Glock Sportsman
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Make a claim or not, you insurance goes every year. At least, mine do. Making a claim... only accelerate the hike process, or as others have mentioned, you may be dropped.
 

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One of our good friends is an insurance adjuster...and not for my ins. company.

It's rather easy to bribe him over with the promise of a meal for him to give us his professional opinion.

Had him over last fall about some hail damage to our roof. He said that if he was inspecting for his company's insured, he'd deny the claim.

Made that decision easy for me!

-J-
 
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