Homeowners Insurance Quandary

[GETMETOCA]

I think I'm in a pickle to say the least! I've had the same homeowners insurance since moving to Modesto 4.5 years ago....My insurance agent informs me that this particular insurance company is no longer in the homeowners business and that his office is finding all clients a new insurance carrier....

Okay, so my NEW insurance provider charges me about $150 MORE per year for insurance. I don't feel like calling around myself because my current insurance is almost out of time so I just opt for what my agent has found me and go with the flow.

One month later, I get a Cancellation Letter from the new insurance company and the reason is : I have a diving board on my pool. This company does not insure homes with diving boards due to risk factors. My policy ends in 10 days.

I call my insurance agent, leave a message and get no return call. So I get out the phone book and call Allstate (they're popular! nationwide!). They say YES, they will insure my house even if I have a diving board and continue with the questions to give me quote.

We get to the roof.....my wood shake roof is 24 years old. (Remember I opted to buy the KTM400 instead of getting a new roof just recently??? ;) ). And Nooooooo Way are they going to even give me a quote because my particular roof is older than 16 years.

If I don't find insurance within 10 days, I don't know what's going to happen. I cannot have a mortgage loan without homeowners insurance. I don't know whether to 86 the diving board? (no more back flips!!!! :( ) or overextend my finances and get a new roof??? I'm kind of pissed at my insurance agent and am curious what he has to say.

Anybody know CA Homeowners Insurance details?

 

[XRpredator]

That does not sound like the best agent ever. I don't know if it's a CA thing, or just laziness on your agent's part, but I found that my old agent (who covered my home, vehicles, etc, plus did all the stuff for where I work) was just coasting by, costing both me and my employer beaucoup bucks. Now that the new gal has taken over, she has been working her tail off to save both me and the Highway District money.

It's almost best to work with an independent agent, because they can shop your policy around for you, if they are worth their salt. If nothing else, you may check with your bank or whoever holds the mortgage on your house to see who they would recommend.

Good luck, Natty. Insurance sucks. :debil:

 

[a454elk]

Nat, if you are a Costco member, try that. I went through them and it was all done over the internet. The company is Amercian Express Insurance, same as the credit card. We saved a ton over the year and they didn't give rats spit about my 3 story dive platform into the spa! No, really, they were cheaper than State Farm and I changed my cars to them too, cept for the theft only on my bikes.

 

[AgentOrange]

dont know about california specifically Natty, but typically mortgage lenders will "force" an insurance policy if the borrower drops coverage. They will get insurance on the house for you.. The bad deal is that is usually very expensive. And of course they pass the cost on to you.

Good Luck

 

[bsmith]

I agree with Mr Orange, Your Mortgage company should add Forced Insurance on a monthly basis. You can call and ask them.
So relax a bit and pay their high rates for a month or two until you can find an insurance company. :)

 

[JWW]

forced insurance....happened to a friend of mine...his rate tripled.

 

[VintageDirt]

Can you temporarily remove the diving board to buy some time?

Zio is an insurance expert maybe he's got some ideas. I thought maybe if you adopt me I could work on your roof in between soaps and beer runs.

 

[zio]

I know as much about homeowners insurance as VD does about hair products. Keep calling. Try Allied & AAA too. I'll call a friend at State Farm & see what they know.

 

[VintageDirt]

Oh good one Zio. :rotfl:

 

[zio]

It was the best I could do. Sorry, I'll do better next time.

 

[bsmith]

If it goes up $150, what is that in percentages?
Mine went up by 5% this year! You might find wherever you go your gonna pay more due to last years fires! They are gonna make that up somewhere.

 

[Okiewan]

Don't even talk about HO insurance til you move to OK. I pay 400% more here than I did in Illinois on a house that cost half as much (here). I hate insurance.

 

[Jaybird]

California courts award like 40 mil (or was it 400 mil?) to a person who rolls a Ford SUV because the mfg didn't make a vehicle that would flip, fly, and roll into a protective ball when the idiot driver crashes it.
The high and mighty thinkers of CA are teaching Ford a lesson with the judgement. HA!
It did nothing but raise insurance premiums even more, and give idiot drivers a false sense of security.
I'm sure it also made the jury that made the award feel like saviors of the planet as well.

Nat, I feel for you, hon. Insurance co's and reactionary judicial systems suck.

*note...I think that simply allowing your mortgage co. to place you on a policy gives your next carrier the ability to raise you. It's a no win situation.

 

[mrmodine]

Natalie:

I agree with VD...dump the diving board until you can get a new roof put on.

You want the roof anyway...there is a reason they won't insure that old shake cover on it now...

Best o' luck!

Christopher

 

[GETMETOCA]

Thanks for all the replys and support, as usual I can count on DRN.

I was able to get a hold of my insurance agent and they were fairy quick about finding me alternative insurance but at another increase in cost. I can keep the diving board and now pay $750 a year for homeowners insurance vs the $575 I was paying with the company that just dropped me. (I was paying $425 when I first bought the house) I'm still not sure what I am going to tell them about the roof.

I'm going to take this insurance until I have time to shop around for something better. I was hoping not to have my Mortgage Lender force insurance on me at an even higher cost. The thing that still sucks is that now I have to go fork out $750 for the new premium while I wait for my reimbursement from the company that just dropped me.

I really didn't want to lose the diving board!!!

 

[GETMETOCA]

I thought maybe if you adopt me I could work on your roof in between soaps and beer runs.

Sweet!!! I've never had a dude offer to do domestic repairs whilst I watch the soaps and drink beer. ;) That's the way it should be!!

:clue:

 

[MrLuckey]

Natty, check out this VIDEO <-----right click, save as

Diving boards are dangerous, get rid of it :laugh:

 

[blackhawk468]

The one thing I have learned in my short-run as an adult so far is.... insurance companies suck. I want to be sheltered.

 

[Kav]

Shoot Natty, I'll be moving to cali next month, I could stop by and give roof repair a shot. Even though I'd have no idea what I'm doing I'm sure that it would be funny due to a lack of motor skills on my part. :bang: :laugh:

 

[zio]

The increase is just something you'll have to swallow. No way around it. State Farm is still not writing new Homeowners insurance, and Kelly doesn't know of any alternatives except for what you're doing- talking with a broker.

And he thinks getting the diving board off the record will be hard to do. Most underwriters won't buy it.

 

[GETMETOCA]

Traveler's Insurance had a 25 year cap on shake roofs (mine is 24 years old - whew!) but added a $74 premium to my bill, taking it up to the $750. They will also insure the diving board. Overall, I'm okay with this. When I get my new roof in a few months, my agent says they will rewrite my policy and if I tie my two vehicles into Traveler's as well, I can save up to $150 or so.

Thanks again for the advice! I celebrated bringing closure to this issue with a few Captain Morgan-infused back flips off the board last night. haha!

 

[Kawidude]

I celebrated bringing closure to this issue with a few Captain Morgan-infused back flips off the board last night. haha!

Ah, good ole' Captain Morgan. I know him well. Glad you got everything straightened out!

 

[Tony Eeds]

Don't even talk about HO insurance til you move to OK. I pay 400% more here than I did in Illinois on a house that cost half as much (here). I hate insurance.

That is cuz your house is always in danger of being relocated to Kansas. :laugh:

Great news Natty. Check and see if insurance company will exclude roof replacement from your policy. Mine did (Farmers) and it bought me 5 more years before I replaced my roof and decking.

BTW - your insurance isn't that bad considering that you have a pool. Almost every insurance company quit writing insurance in Texas last year because of the stupid way the state does things.