Homeowners insurance going crazy!!!

[BladesNBarrels]

Did a total review of all insurance policies and coverage last year with a change of agents.
Everyone has different needs and situations.
Some of the home insurance clauses and riders are pretty cheap for what you get.
We added service line coverage, more of a home warranty rider, and it is not in the home owners policy, for the cost of a case of beer.
Our 18-year old house developed a water line leak between the meter and the foundation, about 45 feet.
Only noticed due to a small drip behind the storage shelves in the basement.
Yep, called a plumbing service, and the meter was ticking off about 1000 gallons a day, where our normal usage is 300-400 per day in the summer!
Crew of 4, Backhoe, Dump Truck, Two excavation pits near the meter and at the corner of the house, pulling pipe through the foundation to the meter, for a 14-hour day.
About $14,000 literally down the drain.
The service line policy had a limit that covered about 70 percent of the cost, but we are sure glad we added it.
I know this is just an anecdote, but it does remind me why we have insurance.

[arbol]

Every insurance is going crazy.

It's in law that you must have insurance.

Really?

I MUST have insurance?

Obviously, the costs of insurance are skyrocketing.

[zteknik]

Every insurance is going crazy.

It's in law that you must have insurance.

Really?

I MUST have insurance?

Obviously, the costs of insurance are skyrocketing.

And the bank accounts of the politicians who make you get it is skyrocketing as well..

[tactical_2012]

Every insurance is going crazy.

It's in law that you must have insurance.

Really?

I MUST have insurance?

Obviously, the costs of insurance are skyrocketing.

There is no law you must have Inusrance if you own your house your Mortgage company makes you have insurance as part of the loan agreement

[BladesNBarrels]

Some insurance coverage is required by profession and by regulation
Errors and Omissions Insurance and/or Malpractice Insurance for professionals
Auto Insurance for Registered Vehicles and Drivers
Just examples

[earplug]

Replacement costs have skyrocketed. Why insurance is more.

[Wulf202]

Replacement costs have skyrocketed. Why insurance is more.

That's not quite how it works.

Insurance agents can influence the speed at which a claim gets addressed in all the carriers I've worked for. Which is about a dozen now.

Safeco is not an insurance company I would want to have on my home.

[MarkCO]

For the OP, that is WAY too high. I switched from Farmers to AAA a few years ago. My insurance went down. I am probably paying about half your rate. Car insurance went up a little this cycle, as did the Umbrella.

Yes, cost of replacement is higher, and that is some of the pressure. BUT, the Marshall fire, general crime in CO and inflation are all part of parcel of the increases in 2022.

[AR_ART]

Call them and see what they can do. My home owners policy was included as part of my mortgage payment and didn't really pay attention. When I paid off the house and had to pay the Insurance myself, I though the amount was insane! I checked around and found policies that cost less. When I called them they did a recheck and they dropped my rate in half. They said under some weird Co law or something they can raise your raise a certain amount and it's up to you to check if it's in line with what others charge. Weird. And this is Liberty Mutual not some unknown company. So call them and check!

[bellavite1]

I hear you guys but unfortunately my roof is made of t-lock shingles.
Farmers grandfathered It, but i'm getting pushback from other companies just at the mentipn of it...
Anyone knows of some other insurance company willing to work wirh t-lock shingles?
I might be stuck with Farmers...