The Dreaded Homeowners Insurance Bill has Arrived

[gsganzer]

Our property tax increased to about $2500/yr... For the home, 8 acres, 40x60 pole barn and one additional detached garage. Insurance runs about $1000/yr. Retiring at the end of the month, we looked very closely at our budget, and we can live well on $3000/mo. We can live on $2000/mo.

Our property tax is $8000/yr for 6.5 acres, 30 x 40 shop and a 30 x 30 pole barn.

Homeowners insurance is $4650/yr.

Auto, 4 vehicles which includes 2 drivers under 21: $13,400/yr

Health insurance (family of 4): $21,000/yr

I'm $4K/mo, before I've even put food on the table or gas in the tank.

 

[CloverKnollFarms]

Our property tax is $8000/yr for 6.5 acres, 30 x 40 shop and a 30 x 30 pole barn.

Homeowners insurance is $4650/yr.

Auto, 4 vehicles which includes 2 drivers under 21: $13,400/yr

Health insurance (family of 4): $21,000/yr

I'm $4K/mo, before I've even put food on the table or gas in the tank.

I feel really blessed. I have three vehicles, one driver under 21. He is 15 and is required to pay for his own gas and insurance. Very low cost of living area... Which is the only reason I can bug out at 47.

 

[Dftodd]

I feel really blessed. I have three vehicles, one driver under 21. He is 15 and is required to pay for his own gas and insurance. Very low cost of living area... Which is the only reason I can bug out at 47.

We pay $3300 a year for 2 vehicle full coverage, an inland marine policy to cover a trailer and zero turn mower, as well as a renters policy.

Another $1200 a year for the camper.

Insurance has gone up a bit in our area due to some tornadoes.

 

[gsganzer]

Which is the only reason I can bug out at 47.

I'm trying to figure out how to bug out at 58, but there will need to be some cost shedding.

 

[California]

Try Farmers, they will insure us, but nobody else will. Main reason is because we heat exclusively with a wood stove. We also live in a fire prone area.

I described above going through three agents after my insuror departed California.

Each of these was a Farmer's agent, who referred me to another Farmer's agent, before the third one found a two-bit insurance company willing to write a policy on this non-code old farmhouse.

Apparently Farmers allows their agents the independence to represent other insurors as well.

I appreciate that my guy went the extra mile to find coverage.

 

[gsganzer]

I described above going through three agents after my insuror departed California.

Each of these was a Farmer's agent, who referred me to another Farmer's agent, before the third one found a two-bit insurance company willing to write a policy on this non-code old farmhouse.

Apparently Farmers allows their agents the independence to represent other insurors as well.

I appreciate that my guy went the extra mile to find coverage.

Our auto and homeowners is currently with Farmers and has been for 20 years. I hope to heck that my agent has been up front with me all these years.

But when I looked at the auto policy for just my wife and I with a 2008 4runner and a 2017 Honda Pilot, that rate is $5400/year, with no accidents or violations. I know TX rates have been rising a lot, but that seems absurd for a 16yo and 7yo vehicle.

I just sent all of our policies (minus the premiums), to State Farm to see what they come back with.

 

[lsgreg]

Farmers is great for my house, but they cannot beat Progressive on the vehicles.

 

[ruffdog]

We have 2 vehicles (10yo) @ $750/year and homeowners @ $1100/year. No claims or threat of flooding.

 

[TN8Man]

Our property tax is $8000/yr for 6.5 acres, 30 x 40 shop and a 30 x 30 pole barn.

Homeowners insurance is $4650/yr.

Auto, 4 vehicles which includes 2 drivers under 21: $13,400/yr

Health insurance (family of 4): $21,000/yr

I'm $4K/mo, before I've even put food on the table or gas in the tank.

Wow! And I thought SoCal was high cost of living.

 

[TN8Man]

I feel really blessed. I have three vehicles, one driver under 21. He is 15 and is required to pay for his own gas and insurance. Very low cost of living area... Which is the only reason I can bug out at 47.

I retired at 55 and moved to a low cost of living area but over the past few years that cost of living is going up quick. If the rate of change does not slowdown it could eventually get challenging. I just got hit with a unplanned hvac replacement. Its those unplanned high cost events that you have to be prepared for.