The Dreaded Homeowners Insurance Bill has Arrived

[TN8Man]

Since I relocated to rural living in Tennessee my homeowner insurance has increased each year, especially the past 4 years with home values skyrocketing. My home value is now appraised at almost 250% above what I originally paid 11 years ago and the majority of the increase was over the past few years.

So the wife and I were thinking a big increase was instore again but was shocked to see it actually went down by $220 bucks and my auto insurance also dropped by $5.

With all this bad crap going these days we finally get a beautiful shine of northern lights in the sky.

 

[lsgreg]

Wow, good deal!

Ours went up about 50% this year, after a very "eventful" wildfire season last year. I tried reshopping coverage, and what I have is the best deal I can get.

 

[TN8Man]

I was especially surprised to see a reduction when economic reports continue to show a economy in decline and real inflation still on the rise. The Fed has still not lowered the prime rate and it looks like they won't anytime soon. There is much talk now about a major downturn in the economy.

 

[CloverKnollFarms]

Some good news, is weaker jobs numbers. This is a predictable side effect of higher rates to lower inflation. Seeing that number, at least in part, means a rate cut is more possible later this year. There is no painless way out of an inflationary cycle due to spilling trillions into the economy over the past 5 years.

 

[TN8Man]

Raising interest rates will kill the economy more but the economy was already heading down the toilet after the covid bioweapon attack.

The central banking system was never about regulating economies, it's about controlling nations.

 

[FPGT72]

After we paid off the house that is one thing you really see up front and in person, property tax and the insurance. Only thing worse then insurance is property tax. With insurance if a hail storm comes your way you call your insurance company and "they" pay for a new roof. Property tax is just pure BS. It is not like there is enough taxes already is it.

 

[oosik]

If my 80 acres were as valuable as the tax assessor thought - I'd be selling dirt by the five pound bags full.

Forty years ago we came down from Alaska and built on the property. 1982 - my property tax was $11.00. YES - all of eleven dollars.

2024 - my property tax is a McDonald burger short of $5000.

Makes me wonder if there really is GOLD hidden here, somewhere.

 

[Evertar]

It’s incredible how home values skyrocketing can affect insurance rates, but it's great to hear yours dropped. Luckily, I discovered MoneyRepublic. Checking services was a breeze, and I quickly compared private health insurance quotes and even found great car finance deals.

 

[Joel/ak]

After we paid off the house that is one thing you really see up front and in person, property tax and the insurance. Only thing worse then insurance is property tax. With insurance if a hail storm comes your way you call your insurance company and "they" pay for a new roof. Property tax is just pure BS. It is not like there is enough taxes already is it.

Like they say, you never truly own your home.

Paid cash for our house and I hate getting those tax bills. Our insurance isn't to bad. Still sucks but hasn't jumped like how it happened to some of you. Ours jumped big time last year when we added our 1 ton otherwise hasn't been that bad

 

[Doofy]

I was surprised that our Homeowners Policy dropped this year by about $220. Not complaining either!