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3,036,987
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I am betting major increases in premiums. 

Sep 06, 2021 10:17 AM
Rainer
148,496
Ken Jones, Commercial Real Estate
Kenneth J. Jones, Inc. - Toms River, NJ
Serving Central & Northern New Jersey Since 1971

Peter Mohylsky. Broker -BRIX REALTY Over the past few years, when looking at homes to buy in Florida, I was stunned by the ridiculously high cost of homeowner's insurance.

A friend who's an agent there told me it was because of Hurricane Sandy. I told him I thought that was a poor excuse since Sandy was in 2012; it was then 2020.

But, hey. As Abe Lincoln once said, you can fool all of the people some of the time.

Sep 06, 2021 12:20 PM
Rainmaker
895,072
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Expect rates to be up in areas where insurance companies fear the risk of claims has increased or will be increasing. Others will also see increases. Insurance is a risk taking business. When risk goes up, they will not play the game or they will increase the costs to the insured.

Sep 06, 2021 11:40 AM
Rainmaker
1,380,333
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

In California insurance has been a touchy issue for years now.  Due to wildfires many carriers stopped writing policies in several parts of California.  Back in 2019 they were excluding entire zip codes (although I think that was challenged in court and eventually stopped).

Sep 06, 2021 10:15 AM
Rainmaker
580,681
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Insurance is pretty high on the Monterey Peninsula because of the fires.  My high end clients are considering self insuring. 

Sep 06, 2021 11:25 AM
Rainmaker
2,634,147
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Fascinating question...Insurance has a love-hate feel to it. The fear of something bad happening & encurring loss vs paying fees to offset the fear?

Sep 06, 2021 09:38 AM
Rainer
313,588
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

California fires and drought, raised rates. Hurricanes, flooding, tornadoes across many states caused rates to increase. How can a consumer tell if the increase is fair? 

Sep 07, 2021 12:04 PM
Rainmaker
4,883,333
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Denver has seen HUGE insurance increases due to forest fires and hail damage.     This year has been quieter but did not see a decrease.

Sep 07, 2021 06:08 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

They have always been on a mission to raise rates and avoid paying what they owe, has this changed?

Sep 07, 2021 05:52 AM
Rainmaker
4,158,119
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

As we continue development and expose more structures to damage, premiums will soar and some companies will deny coverage. Insurance is a business for profit.

Sep 07, 2021 04:26 AM
Rainmaker
6,541,051
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

All of us should expect increases in the cost of insurance.

Sep 07, 2021 04:08 AM
Ambassador
3,034,250
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I haven't really noticed any hikes that aren't in line with other higher prices.  I mean they have to have the money to pay the employees "a living wage" according to them.  They want us all to have insurance, but they sure hate to pay claims.

Sep 06, 2021 06:32 PM