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Go Back   WakeWorld > >> Wakeboarding Discussion Archives > Archive through August 20, 2009

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Old    Gene Weihe (wakebums)      Join Date: May 2006       07-23-2009, 7:12 AM Reply   
We just found out when we checked our banking account that our house payment went up by $250.00 a month.. And we were very upset about this.. So we called our Chase Bank where we have our home loan at and they informed us that our insurance had been increased and that they had to up our payments to cover it.. So, We called Progressive where we have had our insurance for years and they informed us that our insurance had doubled in one month!!!!!!!!! Now, we were not informed on this at all and had no clue.. They told us they sent us a letter but we always check our mail... They told us that our rate increase was from the state of Missouri having so many claims last month that they had to raise their rates. So I called them and asked them how this affects me because we have never had a claim! They said that everyone state wide is getting this and its not us... But they said they would drop it down 250 dollars for the year if that would make us happy...

So, the moral of the story is watch out if you have this insurance company! And if you could help me out, what insurance companies do you use and have they been good to you? Because I'm switching!
Old    Dave (daveronix199)      Join Date: Feb 2009       07-23-2009, 7:27 AM Reply   
STATEFARM....... BUT IM GOING TO A WAKEBOARD THREAD PEACE
Old    j hill (jhilltn)      Join Date: Jul 2004       07-23-2009, 9:11 AM Reply   
progressive does homeowners?
Old    Randy (dudeman)      Join Date: Mar 2005       07-23-2009, 9:22 AM Reply   
Wow. We have Progressive for boat insurance because State Farm was jacking us up. Progressive was 1/3 what State Farm was charging. I just put a claim into Progressive for boat damage from hidden rocks on our last trip. Hopefully the same thing won't happen.
Old    D C (dirwoody)      Join Date: Apr 2003       07-23-2009, 9:27 AM Reply   
State Farm. Mutual company, no stockholders to answer to or try and make a dividend for. But I'm a bit biased.
Old    Bruizza (bruizza)      Join Date: May 2009       07-23-2009, 9:39 AM Reply   
I have everything through statefarm, house, car, truck, motorcycle, and boat. Great rates on everything.
Old    Jonathan Bay (john211)      Join Date: Aug 2008       07-23-2009, 9:47 AM Reply   
Gene,

My home is in Ozark and last month same thing happened to me -- except not nearly a $250 increase but for me what is a 3% increase on my mortgage.

I'm financed through Chase and insured through State Farm.

I paid my mortgage about two weeks early last month, and paid exactly what the statement recited. Then I get a notice of deficiency. That was my notice of the increase.

Chase classified my check (which was 97% the new amount) under the status of "suspension." ??? Chase wouldn't recognize I'd paid anything until I sent in the deficiency. In order not to be late, I had to overnight the make-up check.

I was annoyed but didn't know the basis for the increase. I wonder what's happened across the state that's led to so many new claims. Vacation homes burning down by themselves?
Old    Jonathan Bay (john211)      Join Date: Aug 2008       07-23-2009, 10:07 AM Reply   
No thinking about it, since Progressive is much more invested in boats than homes, do you think there is a rash of boat-owner insurance claims?

I don't see or hear Tri-lake area news coverage up here like you surely do. Is there more news of boat-sinkings, -burnings this year than before?
Old    Ozark King (onthewatermo)      Join Date: Jan 2008       07-23-2009, 11:04 AM Reply   
Gene, call MO Div. of Insurance: http://www.insurance.mo.gov/consumer/complaints/index.htm
but I bet if you read the policy closely there is some language in there (although patently unfair) allowing them to unilaterally increase (without notice sounds wrong) in certain situations. JB, newspaper story up here yesterday reported significant boat/accessory theft in the Tri-lake area (assuming that is Lake Ozark, Truman, Table Rock).
Old    Rick H (blastmaster)      Join Date: Aug 2001       07-23-2009, 11:04 AM Reply   
1) Progressive does write homeowners insurance and it is farily new product for them.
2) Rates are set by companies based on geographical area and approved by each state Dept Of Insurance.
3) Mortgagee companies routinly have insurance carriers raise coverage limits on the policy because they want to insure for loan amount NOT actual replacement cost. This is huge problem since the land does Not burn. A home may cost $300k, but to rebuild it may only cost 150K and it is illegal to over insure and you could not collect the extra $$ anyway so generallay a good fight with the lender will make them understand you may not need that much coverage. We refer to the 150% replacement cost endorsement and they usually reluctantly agree.
4) Boats and homes have no corolation to an insurance company. Progressive and others usually have different issuing companies that have different reinsurance companies backing each product line. Therefore seperate underwriting, claims etc....

(Message edited by blastmaster on July 23, 2009)
Old    Jonathan Bay (john211)      Join Date: Aug 2008       07-23-2009, 11:42 AM Reply   
Did everybody see Rick's point no. 3? That is a "huge" big deal. I might raise that point with my agent.

Andy, I bet Tri-Lake means different lakes in different locales. I typically only hear or see it from news, tourism and/or real estate sources. In Branson/Forsyth, I think (but not sure) that it means Taneycomo, Bull Shoals and Table Rock (and only the near halves of the last two).

Theft is up, huh? If any guests get injured, can this be claimed against the boat-owner's boat insurance?

(gotta go back to salt mining. boss is scowling.)
Old    D C (dirwoody)      Join Date: Apr 2003       07-23-2009, 1:42 PM Reply   
Wind/Hail claims have been huge on the homeowners side this year in the midwest. That could be part of it.
Old    MCXSTAR (snork)      Join Date: Jun 2007       07-23-2009, 2:59 PM Reply   
I'm insured through Amica no complaints I even get a dividend check back each year.
Old    Gene Weihe (wakebums)      Join Date: May 2006       07-24-2009, 5:48 AM Reply   
I called them yesterday Andy and they did'nt help our too much.. They said they would open a claim on it, but if Progressive said that they sent a letter to me " That I didn't get" that they would have to drop it.. So the insurance company would have one up on us because they "said" they sent one to us in April.. We never got the letter and if we did we would have switched carriers then..

So today, I'm calling for quotes all day untill I find a good one.. Thanks guys for your help..

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