homeowner's insurance increases

[JB2379]

The other day, I received a memo in the mail from my insurance company that my homeowner's insurance was increasing by more than $125 per month, just because I filed claims on the damage received from that darned hurricane. A couple of neighbors, who has the same insurance companies, will also be paying more for their homeowner's insurances as well. Man, I just can't seem to get no breaks these days. Have any of you guys experienced this?

[SouthChic]

JB, I recently received notice from Nationwide that mine was increasing by $5.00. I hope it isn't going up any more than that. :confused: Who is your insurance carrier?

[JB2379]

Nationwide is also my insurance company.

[SouthChic]

Uh oh! :(

[JB2379]

well, hopefully they made a mistake. Maybe the memo should have read $25 instead of $125. I guess I'll call them just to make sure.

[SouthChic]

I sure would. That's a pretty big jump. :smt102

[aaron]

I wasn't even going to file mine and pay it from own pocket so I wouldn't get an increase, but my agent told me they don't increase due to a disaster claim.

[justme]

I called about mine (Allstate) and it was not supposed to go up due to the damage. Mine went up due to the city/county increasing the value of my home for tax purposes. Also your insurane is periodically increased in the amount of coverage you have on your home to compensate for inflation. Ie- say I bought my home for 79K 10 years ago. It is now worth over 100K my insurance has to increase with that or I will lose money if there is a complete destruction of my home. When the coverage increases so does your policy. I just learned this when I called to inquire why my insurance that was 511 the year I bought the house went up to 1200 this year- 7 years later.

[JB2379]

well, they are going to have to give me a good explanation of what's going on.

[noway]

Im with nationwide also and it increased 15.00 for 6 months.. I looked back and its only gone up an average of 5 dollars a month over the last eight years.. My coverage has increased by 25k also.. I have been very impressed with nationwide..

[JB2379]

Geez, I'm really hoping this is a mistake then.

[JB2379]

Hey guys, I just got my wife to call Nationwide, and it was indeed a mistake. My insurance did increase, but only by $6 per month. They apolozied for the mistake.:smt038 :smt038 :smt038 :smt038 :smt038

the wife also just called one of the neighbors and was told that their insurance had only gone up by $6 also. When I was talking to my neighbor about it yesterday, I just assumed that their insurance went up by $125 like ours.

[SouthChic]

That's great JB! :smt038

[wilebill]

See, your subscription to My Hattiesburg has already paid off! :)

[sidelinetolong]

Hawk, if you have a replacement cost policy they will hit you with recoverable depreciation. As you replace the items damaged they will pay you the replacement value. This is to insure that you do the work that you were paid to do and not spend it at casino magic!