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Posted on 3/20/25 at 1:14 pm to BilbeauTBaggins
quote:With current building costs, this would make me pretty nervous.
raise their coverages on me, to which we lowered our coverage amounts to a little over our home value
Posted on 3/20/25 at 1:22 pm to tigerfoot
quote:
With current building costs, this would make me pretty nervous.
Yeah, most people don't understand the difference between "home value" and "rebuild cost". Also how high rebuild costs are right now compared to "normal".
Posted on 3/20/25 at 1:34 pm to DukeSilver
I would take the cash and buy a better home, not that I dislike my current home. Our future home if we ever decide to move would be way different than what we have now. Only reason I wouldn't want to leave is because of the yard space, but that'll be something that eventually will not matter to me in the future and I can look past that.
Posted on 3/20/25 at 2:06 pm to BilbeauTBaggins
quote:
They wanted to insure me for 150% more than what my home is actually worth in rebuilding costs. I'm not rebuilding this old home if it came down to it.
Yeeaaaa, but, how do you know what the rebuild cost of your home is? Did you have that type of appraisal run on your property or are you just assuming? If your home is old, the rebuild cost could very well be high due to bringing things up to code and materials and such. A ton of factors go into calculating the rebuild cost - factors that most people would never imagine but I promise you they make perfect sense.
If your home is destroyed and you are insured for ACV on an old home, you will 100% be absolutely royally magnificently fricked.
Posted on 3/21/25 at 3:13 pm to Lake08
State Farm has been great to me with auto, homeowners, and renters.
Unfortunately, ive had claims on all 3 recently and honestly they’ve been excellent to work with and got me money quickly to get repairs done and recoup my stolen or damaged property. I have no complaints.
Unfortunately, ive had claims on all 3 recently and honestly they’ve been excellent to work with and got me money quickly to get repairs done and recoup my stolen or damaged property. I have no complaints.
Posted on 3/21/25 at 8:05 pm to TDsngumbo
Maybe their home is paid for and they’d just move?? 
Posted on 3/21/25 at 9:20 pm to BigBinBR
quote:
It's 10 months. They probably just sent him a notice that his rates were going up at renewal.
State Farm hasn’t taken a large home increase in about 8 years in Louisiana.
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