[USER]

I need help! A year ago my home insurance has increased my policy by $300 plus.

So I switched to another insurance last year, but they did a roof inspection and our roof didn’t pass their inspection.

They gave us a month to replace it. We didn’t have the money to do it then and we still don’t have money to do it now.

So long story short I went back to our old insurance and they accepted us back without doing any inspection or anything.

It raised our morgage and we just sucked it up since we didn’t have a choice.

But last month I received a notice of our new policy and it has increased by $500.

This will surely raise our monthly mortgage realy high. I feel trapped.

I already called them and told them that we wouldn’t be able to afford it and even threatening them of switching, but it didn’t help.

They wouldn’t do anything about it, and just told me that if I switch they will just refund the money.

It makes me mad to think that they kinda have a sense that I wouldn’t be able to do the switching because of what happened last year.

Please if anyone has been in this situation before, help me how to be able to find a solution to my problem.

How can we replace the roof without breaking the bank. Seriously, there’s really nothing to break.

Has anyone switched to another insurance company but never had a roof inspection? How?

I couldn’t wait to get out of this greedy insurance of ours. We could afford our house payments, but the insurance makes it hard for us.

The government should look into it.

[Katy]

Insurance agent here – all companies are experiencing historic premium increases.

I live in Iowa.

We have had several catastrophic weather events over the last couple years that we aren’t used to.

Due to this, everyone’s insurance has went up.

If it’s $500 a year, that’s around $41 a month increase.. it sucks, but I’m sure you could possibly find a way to adjust your spending to save the $41 extra a month.

I would ask your insurance agent if there’s any coverages you could decrease or remove (I do not advise it personally, however I understand if you have to do that)

There could be optional endorsements on your policy that you could remove (equipment breakdown, water / sewer backup / etc.) again – I don’t recommend it however understand if that helps you out.

It would be really hard to find a insurance company that won’t inspect the roof.

Any of the companies I write for will do an inspection on it.

Insurance companies are really getting strict with their underwriting guidelines on what is acceptable and not acceptable.

I would look at a home equity loan (if possible) or taking out a personal loan from the bank to get your roof replaced.

[Liberty]

Ask to increase your deductible. That should lower the price.

[Sharilyn]

If your roof has damage, what about making a claim on your insurance and you would only be out the deductible for having it replaced?

[Marijo]

My insurance went up over $1000 this year. I have never had a claim filed.

I switched and while still higher than last year, it was much less than the my old company.

Absolutely crazy.

I work multiple jobs and have a very tight budget.

If I had to come up with $41 I guess I could give up eating

[Hallie]

I used to work for a roofing company. There are a bunch of federal grants that allow for needed home repairs.

I recommend checking out the USDA grants website, as I know they have programs.

Also, check your local urban development areas.

I know in my city, we have a company that offers low-interest loans for home repairs, as well as provide access to grant information.

A lot of these companies also don’t require you to live in the city to receive the benefits.

[Debbie]

Can you lower coverage a little temporarily or increase your deductible temporarily to lower the premium until your budget situation changes?

You will still need to adjust your budge (cut back) to save for a new roof regardless of insurance company or premium.

[Dawn]

Insurance companies now use drones to do roof inspections. Water damage is a real big cost for insurance companies and there’s really nothing you can do other than replace the roof and then ask for a reduction in your policy after you show them the roof has been replaced.

Good luck

[Pat]

If they will put a new roof on and you can pay monthly, that might be better that us forking over $500.

Extra for insurance

[Laurene]

It’s more common now for insurance companies to demand repairs before continuing insurance.

I know someone who was cancelled because their siding didn’t pass.

All within a month of insuring them. Unfortunately they are all increasing out of site and I think your best option is to find other ways to cut costs to cover it.

Consider all non-necessary expenses and eliminate something to get you there(or find additional sources of income).

Just my suggestion, sorry I can’t offer anything better.

[Corie]

I believe we are all stuck…some states may be worse than others. My homeowners went up $300 last year too and while shopping around to change car insurance I checked homeowners the new quotes where from $300 to $600 more.

So saved $70 (6mo) on car insurance but homeowners isn’t up till December so not taking that hit yet.

It sucks everything is going up but my income is going down

[Sandy]

Ask him how much it would save you to put on a new roof because when I put on a new roof I called right away so I could get a lower rate and it was like $40 a year less..

[Angelika]

Sone other insurances insure you however exclude the roof…butcatill raise their rate, mortgage company won’t accept that kind of insurance though

[Karli]

I just switched to Allstate and reduced my premium by over 50%. They did not require me to have an inspection.

[Lori]

Soooo see if there is some roofing help in your area – there are govt programs local here to keep people in their homes – windows doors roofs and bathrooms are the targeted repairs.

Get three estimates. Is insurance willing to help u with any money?

Roofs are often covered with a little bit.

[Melinda]

Before anything else, I would be looking for a new company. But I would also call a reputable roofer out thr inspect the roof.

Let them know your situation and if that roof does not need replacement, then they can write that in an inspection report that you can take to your insurance company.

Its good to have handy.

[Tracy]

No suggestions for the immediate time frame, outcome sider getting a second job to cover the cost, for now. Interestvrates are expected to come down, so perhaps when they do, you can refinance at a lower rate, which will help your payment.

Also, if your mortgage company allows it, consider saving the money for the insurance for next year and paying it yearly to the company instead of through the mortgage.

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