This may have been true in 2001 but in 2005 the rates are much higher than they have ever been…seeing a 40-80% increase over the last 4 years. Would have been nice if they had more current information!
From what i understand insurance compaines go on your credit rateing.What does your credit have to do with your insurance.Also we pay for all the damage done is florida and other places that have floods. But what gets me the people rebuild in the same place. So they get a new home sometimes 3 to 4 yrs apart. So why should we have to pay here in Michiagan for things that happen in other places??? I turn in 1 claim and my insurance goes up.
2001 was a good year, but there has been a whole lot that has happened since and it is useless information albeit “it’s most recent study”. The NAIC must be in the dark ages to even think this has any bearing on today. Any commemts whether from Mr Kuhnmmuench or anyone else don’t have much meaning if one uses a study from 2001 to relate to.
FYI – my Michigan HO policy was $470 for $211,000 in 2001 and today it is $630 for $248,000.
That a 34% increase in premium and a 18% increase in coverage amount.
A lot of things have changed since 2001 – like who would have believed that in 2005 I could be getting a $1,126 credit because of my insurance score and other discounts. I’ll bet that that is not “average” nor even “reasonable”. That’s great news for 2005.
My State Farm rate has increased by $200 or more EVERY YEAR for the past 4 years. This was a newly constructed home which jumped from $560 the first year to almost $1200 this year.
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This may have been true in 2001 but in 2005 the rates are much higher than they have ever been…seeing a 40-80% increase over the last 4 years. Would have been nice if they had more current information!
Four year old data is the best we have to offer? Is there any intrinsic value to be gained here? If so, I missed it.
Were in michigan Please let me know my policy jump from 540.00 to 854.00
How does Michigan regulate insurance companie’s reserves? Does Michigan regulate the number of insurance carriers in their state?
From what i understand insurance compaines go on your credit rateing.What does your credit have to do with your insurance.Also we pay for all the damage done is florida and other places that have floods. But what gets me the people rebuild in the same place. So they get a new home sometimes 3 to 4 yrs apart. So why should we have to pay here in Michiagan for things that happen in other places??? I turn in 1 claim and my insurance goes up.
2001 was a good year, but there has been a whole lot that has happened since and it is useless information albeit “it’s most recent study”. The NAIC must be in the dark ages to even think this has any bearing on today. Any commemts whether from Mr Kuhnmmuench or anyone else don’t have much meaning if one uses a study from 2001 to relate to.
FYI – my Michigan HO policy was $470 for $211,000 in 2001 and today it is $630 for $248,000.
That a 34% increase in premium and a 18% increase in coverage amount.
A lot of things have changed since 2001 – like who would have believed that in 2005 I could be getting a $1,126 credit because of my insurance score and other discounts. I’ll bet that that is not “average” nor even “reasonable”. That’s great news for 2005.
My State Farm rate has increased by $200 or more EVERY YEAR for the past 4 years. This was a newly constructed home which jumped from $560 the first year to almost $1200 this year.
Is there any insurance company in Michigan that offers Mold insurance for new construction ?
Check out Citizens Insurance I had a mold problem but my understanding is for only certain things. Good luck