Home Owner's Insurance

[89th]

Before I start, I would like to honor all the ancestral stewards of this land on which my house stands today and their descendants living in over 1,000 Tribes, Nations, Bands, Pueblos, Communities or Native Villages. The people who speak almost as many different languages as there are Tribes are the contemporary custodians of this land.

Ok, now that I have provided healing.

My home owners insurance premium went up 35% this year. No changes to coverage, we use Geico (through Liberty Mutual), but the increase is just bonkers. They ran the latest quotes for other providers and my current premium is still the lowest.

Anyone else?

[Horace]

Maybe the new addition to your family? Or the fact that you listed arson as a hobby? If there are two things homeowners insurance companies hate, it's arson and babies.

[Mik]

Replacement cost.

[Jolly]

@Mik said in Home Owner's Insurance:

Replacement cost.

In a nutshell...

[Axtremus]

If you still have a mortgage with that home, there are limits to how low you want to insure. Otherwise you may be able to elect a lower coverage to lower the insurance cost. E.g., if the quote assumes you want to insure up to $x for replacement cost, you can try to elect to insure only up to $.7x. Good luck.

[89th]

Agreed, I also think the quote last year was abnormally low, about $1k lower than I expected, so maybe they just fixed the glitch.