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« on: July 22, 2024, 06:43:15 PM »
Had a couple of long conversation with my independent insurance rep a couple of months ag. Our home owners went up $2000 this year, with Safeco. He tried to find a better rate with other providers and well as rewriting my policy with safeco. The best option was to continue with the renewal. Apparently the state legislature has changed the minimum deductible to 2%. Rewriting my policy or moving to another provider would change my deductible to 2%. The good news is the minimum deductible is moving to 5%!!! I purchased my house for $300k in 2015. The housing market has gone crazy here in the DFW area. The tax man says my house is valued at over $600k. I just do t see it… At 5% my deductible will be north of $30k! In short we will be paying higher rates for overpriced homes, high deductibles with no insurance benefit unless the house burns to the ground…