Insurance Increases

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Real Estate Broker/Owner with Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

 

A couple weeks ago, my current insurance (car & home) agent sent me an email stating rates were going to increase significantly, and wanted to warn me.   Goodness, he was not kidding.    The car insurance increased almost 50%, and I have no accidents and no tickets along with excellent credit.  Cannot imagine those who do!

 

Talking with a few clients and friends over the last few days, many have retained the same insurance company for years, and they THINK they have the best rates because they are loyal.  That is not how it works!    Always best to do your due diligence every couple of years and call around to see what rates are out there.   You might be surprised.

 

After speaking with an insurance broker, he did say, car rates did significantly increase across the board, so will need to hear how other companies shake out.

 

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Metro Brokers - House to Home, Inc.House to Home

GRI, CRS, CNE, e-Pro  

Broker/Owner

Joan@JoanCox.com

720-231-6373

 

Denver Real Estate

Homes for Sale in Denver

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  A Denver Metropolitan Realtor

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Lending / Financial
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car homeowner insurance

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Rainmaker
1,979,493
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Holy crap, Joan. 50%? Who are you insured with? The Cement Shoes guys? Wow. I have not noticed an increase in my State Farm rates. In fact, I just got a refund because some new fangled thing allowed a different calculation.

Dec 13, 2017 10:45 AM #5
Rainmaker
648,597
Diana Zaccaro
Veterans Realty of Brevard - NOT just for Veterans! - Cocoa Beach, FL
Your Brevard County, Florida coastal connection!

50% is crazy! I just got the renewal for our policy and am preparing to make some calls...way less of an increase than you saw but still too much. Some of the locals in my FB groups have the same company and have been posting they received increases of 10% or more after the storm, even with no claim. Is your company the big "G"_ _ _ _?

And don't get me started on this "across the board" increase! I remember when insurance was "risk based" due to claims, driving record and credit...to me, that is how it should be.

Dec 13, 2017 01:33 PM #6
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Gita, I started, so will see if the rates are much different, or EVERYONE went up drastically.

Dec 13, 2017 03:37 PM #7
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina Hollander that is exactly what I started.   My agent wasn't very happy, but sure with these increases, he has to know some will leave if there are better rates out there.

Dec 13, 2017 03:42 PM #8
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jeffrey DiMuria 321.223.6253 Waves Realty EVERY year would drive me crazy, insurance is my least favorite subject!   Do you hire out?

Dec 13, 2017 03:42 PM #9
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nathan, I agree, and cringe when I hear clients saying they have been with their companies for 20+ years.

Dec 13, 2017 03:43 PM #10
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents I currently have American Family, and changed 3 or 4 years ago when my previous company increased my homeowners insurance drastically.    Even the insurance broker said car insurance across the board increased here.  Are they saying we are bad drivers?

Dec 13, 2017 03:44 PM #11
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Diana Zaccaro my insurance agent said the insurance companies have had too many claims from fires, hurricanes, etc. and we are paying for it.  Glad you only saw a 10% increase, but hopefully you can get a better rate elsewhere, good luck! 

Dec 13, 2017 03:46 PM #12
Rainmaker
1,304,462
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

Joan, we had the same thing happen last year and it paid off to shop around. We changed companies. I hope you can find a better deal, 50% increase is just insane!

Dec 14, 2017 04:45 AM #13
Rainmaker
4,198,877
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Joan.  It is important to keep in mind what one's coverage really is when comparing rates.

Dec 14, 2017 05:03 AM #14
Rainmaker
1,925,546
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Uh oh, I hope that might won't increase.  I changed companies not so long ago, so perhaps I am locked in for a while.

Dec 14, 2017 05:26 AM #15
Rainmaker
4,553,842
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thank you very much for sharing this experience. I hope we are not faced with an increase that is this high.

Dec 14, 2017 06:24 AM #16
Rainmaker
1,081,560
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Joan

You are so right about shopping around. After many years with CSAA, I changed to Travelers and saved about 25%. Heck, given all that has happened here, it is good they are issuing home owners insurance again. For about 10 days after the fires, there was only one company doing so and they were charging about twice the normal rate. cheers cvc

Dec 14, 2017 08:03 AM #17
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Amanda, will be calling the insurance broker this afternoon and hoping to hear some good news.  Glad you found a better deal out there! 

Dec 14, 2017 09:13 AM #18
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Gabe, this insurance broker wanted the declaration pages, so he knows the coverage, and said late yesterday, he thinks my coverage will improve.

Dec 14, 2017 09:14 AM #19
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Brian England you are never locked in, you can change every year, there is no contract.

Dec 14, 2017 09:15 AM #20
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Roy Kelley between the insurance on the cars/home, etc. plus health insurance going up $250/month, it is hard to swallow this time of year.

Dec 14, 2017 09:16 AM #21
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Curtis Van Carter My insurance agent told me our rates were increasing due to the outlay of funds for fires, hurricanes and floods.    Glad to hear your area can again get insurance.

Dec 14, 2017 09:17 AM #22
Ambassador
3,628,715
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Insurance on our commercial building went up 25% with no claims on it the whole time we have had it. To top that off, my insurance agent is a tenant and knows it is in good condition.

Dec 14, 2017 09:09 PM #23
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Debbie Reynolds my agent said all car insurances skyrocketed this year due to lots of hail in our area.   I have obtained lower rates elsewhere though.   It seems not all agencies are doing this.

Dec 17, 2017 08:55 AM #24
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Rainmaker
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