Car Insurance skyrocketing

[Hay Dude]

We pay $6,500/yr for our AgAdvantage policy with Texas Farm Bureau. Due to the high cost of building in East Texas (their explanation), the 3200 sq ft house, 1800 sq ft stables, 2400 sq ft shop, and 1200 sq ft carport are valued at almost $1,000,000 replacement value. Plus, I have all the tractors, implements, lawn mowers, and trailers covered under it.

I’m north of that on replacement value, so I know what you mean!

 

[ultrarunner]

950 square feet cottage on 40x125 city lot $1900 renewal.

 

[Jstpssng]

950 square feet cottage on 40x125 city lot $1900 renewal.

If the place burned, would you be able to rebuild on that lot?

 

[ultrarunner]

If the place burned, would you be able to rebuild on that lot?

Yes… it’s a typical subdivision lot in my city… many are half the size.

2500 square feet with 25’ frontage is the minimum without a variance.

Some areas also have 4,000 and 5,000 minimum.

Typically you are always ok if the lot size conforms to the neighborhood plus infill construction now is green lighted with housing emergency declared.

 

[jyoutz]

Yep, so that along with fuel, food, parts and just about everything else is why I have grounds to complain about the way the economy is currently being handled.

It sucks.

Since I’m only paying $1500/year for a 3300 square foot house plus 2400 square foot barn, your situation has not much to do with national economy factors and a whole lot to do with local economy factors.

 

[CloverKnollFarms]

I'll admit, we built a smaller house than most, at 1700sq ft. Our previous build was 3000, and we just wasted a lot of it. My shop space totals 3300sqft . Kids are basically gone, the wife needs an office, and my time is spent in the shop 80% of the time.

 

[Hay Dude]

Since I’m only paying $1500/year for a 3300 square foot house plus 2400 square foot barn, your situation has not much to do with national economy factors and a whole lot to do with local economy factors.

Local or national, inflation sucks, but no it has a LOT to do with national factors. My house is 7,000SF and I have an oversized garage in the back of my property if that makes you think any differently.

 

[riptides]

Local or national, inflation sucks, but no it has a LOT to do with national factors. My house is 7,000SF and I have an oversized garage in the back of my property if that makes you think any differently.

So is it a farm or a home according to the insurance?

 

[YanmarFever]

Hay, do you ever get lost in your house, 7,000 sq ft is a castle!
Our insurance with hurricane included runs a little over 5Gs just for the house.

Im adding insurance salesmen to my list along with lawyers, realtors, car salesmen, politicians, ect...

 

[5030]

Last time I checked, not even one insurer operated as a 'non profit'. They are all in business to make money on you...lol