Homeowner's Insurance.... getting jerked around

[Rob Tucker]

Anybody else suddenly getting jerked around on renewing their homeowner's insurance?
I'm thinking I need a new carrier.  Any advice?

Mahalo.

[HereOnThePrimalEdge]

I have RLI through Hawaii Insurance Consultants.  They recently asked for a photo of my roof, I haven’t heard back so assume it’s fine, and they took my last payment. Renewal is September, haven’t received a bill yet.

I’ve never made a claim, and based on that have no experience on what they would be like if they had to send me a check.

[HiloJulie]

Been with Erick Ellgren Agency (in Honolulu) thru Allstate Insurance for 31 years.

I looked up my first premium paid in 1992 was $325.00. Last renewal was $378.00.

I had one claim, when a few of Puna's finest robbed our yard tool shed one Sunday Morning while not at home - took everything, lawn mowers (push kind) weed whackers, chain saw etc.

Filed claim with police report - we have full replacement coverage and within 3 days - sent me an estimated replacement value check - and after we relaced everything we wanted, the balance was less than $45.00 - and they sent us a check 2 days later.

One note: They have sent an inspector unannounced every few years - to verify water level in catchment - to insure there is enough to fight a fire, I guess. We seemed to have passed each time!

[terracore]

I heard that the biggest carrier in LZ 2 decided it's not renewing any policies and their customers are getting the nastygrams now.

The insurance industry as a whole is shedding riskier policies. Allstate and State Farm no longer issue new policies in California or Florida. Other carriers are making similar changes.

Insurance companies sometimes have to make multi-billion dollar payouts after large disasters. Since they don't have cash like that on hand they.... you guessed right, they have insurance for that. They are called reinsurers and they have jacked their rates way up. So our insurance companies are themselves buying less insurance, meaning they need higher premiums and lower risk in order to operate with a higher liability margin.

The financial system's plumbing is all interconnected. The bank failures earlier this year was going to back some toilets up eventually and the insurance industry is one of the largest components of the financial system.

[Obie]

I have had Allstate thru Erick Eligren Agency for 23 years.

Allstate paid off in full on my losses in Kapoho in 2018 but informed me they would no longer insure me in lava zone 2.

I bought in lava zone 3 and had no problem.

[macuu222]

I've had Allstate homeowners insurance for the last 25 years. And just last year my monthly payments jumped from $75.00 a month to $115. a month. I called and asked why and they said insurance costs are going up nationwide. Which is not really an answer. So I increased my deductable from $500 to $1000 which then lowered my payments to $80.00 a month.

[Kiana]

We went with Allstate Hilo in 2018 since they paid off our neighbors so quickly in Leilani. We are now in lava zone 3. We have a separate hurricane policy issued through them also but it's with another company, iCat. We have a rental property, and Allstate issues that dwelling policy through RLI, and then another hurricane policy with the same iCat company.

We had our autos with Allstate, but when we did a Geico bid it was half the cost! No brainer to switch. Every time we deal with Geico, they want to quote us Homeowners' insurance, too. I finally got motivated this week and gathered all of our policies so I could deal with their phone "service", and once I got through I was told I would have to talk to three different agents - one for the homeowners for our own home, someone different for the "dwelling" policy for our rental, and a third for the hurricane. I couldn't deal with three different people, so they lost out and I hung up. Anyone out there use Geico for HO?

We also are at a point where we want to obtain an umbrella policy. Not sure if our autos have to be with Allstate to get that, but will find out.

So, we also are interested in who the good insurance peeps are around here. I'm not crazy about Kris Speegle, the owner of Allstate Hilo, but his staff is very good.

[AaronM]

Avoid Liberty Mutual like the plague. It took almost 2 years to be made whole after Fissure 8.

[ironyak]

The financial system's plumbing is all interconnected.  The bank failures earlier this year was going to back some toilets up eventually and the insurance industry is one of the largest components of the financial system.

I had not heard this take, but would be interested in reading more if you have a source. Rather, the increasing number, scope, and unpredictability of climate disasters has been noted by the industry and matches the areas from which major insurers are withdrawing.

https://www.scientificamerican.com/artic...-industry/

All the examples I've heard locally recently are for lava zone 2 so it seems 2014 and 2018 have been added to their models, unless someone has been given some other justification for nonrenewal?

[Midnight Rambler]

Been with Erick Ellgren Agency (in Honolulu) thru Allstate Insurance for 31 years.

I looked up my first premium paid in 1992 was $325.00. Last renewal was $378.00.

FR? I also have Allstate (through a different broker) – my first was $522 in 2015, it's now at $929 for this year.  My valuation hasn't gone up nearly that much.