Avoid These States With Sky-high Insurance Costs!

[@LivinginNCW]

In Washington State I'm paying about $1,200 a year for homeowners Insurance.

[@eldonjons7442]

East WA state here, I sold my 600k house which was 750 a year back in 2019, moved across the street to a new double wide, insurance doubled. I searched online and now pay less than 600...shop around!

[@Triginhil]

My homes premium went from $800 to $2800 this year with less coverage, i had to increase my deductible to $10k just to keep my premium affordable. Im ok with the high deductible because ive already fixed and upgraded everything in this 80 year old home. The only reason insurance will kick in is if it catches fire and burns down or gets blown away. At that point, $10k deductible is the least of my problems.

[@LivinginNCW]

Thats crazy, I'm seeing that happen in the mountain towns around washington. What state do you live in?

[@Triginhil]

@@LivinginNCW I live in Southern California

[@LivinginNCW]

Yeiks, do you live in a rural area, or have any idea why it spikes so high.

[@Triginhil]

@@LivinginNCW I live in San Bernardino, near a mountainside that catches fire every few years, although the fires never make it far enough south to affect our neighborhood. When I complained about the price increase to any insurance company, they said it was due to the rise in cost of materials across the country. Even though I spent over $60k to fix and upgrade my home to prevent future claims for the foreseeable future, they wouldn't offer any discounts. The only way to keep an affordable premium was to jack up my deductible from $1500 to $10k (which is the max my mortgage company allows).

[@LivinginNCW]

@@Triginhil That is a bunch of B.S.! Building materials have gone up 20%-40% since 2019, yet your insurance has gone up 350% - something does not add up here!

[@thethinkingmansgame5050]

just up your deductible.. and re evaluate your insurance coverage

[@nicholasdagostino2127]

I just paid for next years insurance in Connecticut and it was $900

[@LivinginNCW]

That's an Awesome deal!

[@kikigirlkauai]

Dome homes and alternative building techniques and materials is needed including moveable homes ,

[@melissasmith397]

You can't do that because the government will take you to jail for so called homelessness. And destroy your stuff

[@LivinginNCW]

Im starting to learn about a company that is building with foam. Im looking forward to hearing more about them. If you hear of any companies doing alternative building, send me information.

[@maximaniac7231]

I currently live in Colorado but am moving to Arkansas. Checking homeowner's insurance rates in Arkansas, they were exactly half what I currently pay in Colorado.

[@LivinginNCW]

Wow! I wouldn't think there would be that big of a difference. Thanks for sharing.

[@daniellamb6182]

You are so right,!

[@darrenhankner5282]

time to raise your deductibles. thats what I did here in CA. it went up 30 percent. so I totally erased the 39 percent increase by jacking up my deductible

[@LivinginNCW]

Good strategy.

[@23cla69]

I pay $1100. I live in Los Angeles County. Not in a flood or fire zone.

[@LivinginNCW]

That doesn't sound too bad. Thanks for sharing.

[@tarwingrill4531]

You spend your life saving to buy a home. Then you have to rent it from the insurance company, rent it again from the county assessor, and pay the third rent to some strange HOA!

[@LivinginNCW]

It's so sad, It feel like there is no end to paying out. We need BIG change in the country.

[@billysmith6284]

@@LivinginNCW we need huge changes.. skyrocketing real estate prices have caused big problems.

[@BonBon-kg4mq]

Wisconsin - $1,900

[@LivinginNCW]

Thanks for sharing!

[@darrenhankner5282]

$137 per month with State Farm in Joshua Tree ca.

[@LivinginNCW]

Thanks for sharing.

[@knoxfamily150]

Our business insurance increased 80%

[@LivinginNCW]

That is crazy! Thanks for sharing.

[@citticat2]

How are the elderly dealing with this - how many just can't afford it. Besides as soon as you need the insurance the company goes south.

[@LivinginNCW]

I really hope something will change. We can't keep moving in this direction.

[@bsgvlog5640]

This is the reason why it's important to downsize as one gets older. Sell that large home and move into a smallee condo or townhouse. Problem is for quite awhile there's been a period of time when hoke values kept going up and up and up, property taxes stayed low, insurance costs were low so people got used to keeping large homes. Now that everything else is catching up we are returning to how things used to be.

[@citticat2]

@@bsgvlog5640Downsizing and moving into a condo is not always a good idea because you don't own the property. Corporations are coming in, buying these properties, and raising HOA's sky high. If you are going to downsize buy a smaller house. And many older people who bought "average homes" don't have to downsize because they have learned to live within there means and it is cheaper to stay put - well for now.

[@Winston820]

We’re not supposed to be able to own homes anymore

[@LivinginNCW]

SO Sad.

[@bsgvlog5640]

*in diaster prone areas

[@Winston820]

@@bsgvlog5640 I don’t live in a disaster prone area, but since Biden became president, the tax assessed value of my house has gone up $100,000 in three years. My neighbor just sold their house and didn’t even get the value the city was taxing them on it.

[@jaydurych]

What is wrong with the insurance industry? Pure greed. The federal government needs to dictate, through legislation, acceptable investments and maximum profit margins for the insurance industry. Alternatively, the United States should self-insure the residences of all U.S. citizens. It’s the next logical step up from existing federal flood insurance and disaster relief programs.

[@LivinginNCW]

I couldn't agree more. Here we are in an election year and I have not heard one thing about homeowners insurance. Policy is a big part of home affordability and I would like to hear our government take some accountability for it.

[@bsgvlog5640]

Why do you think it's Greed? You haven't seen material and labor costs go up ???

[@jaydurych]

@@bsgvlog5640 Labor costs have essentially remained flat when adjusted for inflation. Material costs have increased. However, they have increased significantly less than insurance premiums have increased. You will have to do better than that.

[@KieranMullen]

Do you have this information in a spreadsheet?

[@LivinginNCW]

I don't. There is a lot that comes up if you search on google.

[@melissasmith397]

Shouldn't have to pay taxes on something that you already paid for.

[@LivinginNCW]

I would agree, or they should at lest be frozen so they do keep going up.

[@knoxfamily150]

So storms are average and insurance has been stable for 50 years until now. There is orga ized cri.e