Sure (at the risk of losing any sympathy for my 300% premium increaseCare to share home value and premium costs?).
Paid $1,050,000 in 2000. Zillow claims $2,513,000 today.
Here are some past policies and premiums.
In 2000, my premium, covering a dwelling valued at $750,000 with a 10% deductible was only $639 ($2,774 with $2,169 in discounts applied).
I also had a CEA Earthquake policy with a 15% deductible. The premium was $1,538.
Jump to 2023:
Homeowner's Premium $4,057 with dwelling valued at 1,971,000 (deductible is 1/2% I don't know when in 23 years I chose that deductible too small)
CEA Premium $1,346 same dwelling value (sometimes the premium goes down - its run by the state).
The new 2024 premium will be $16,309! with the dwelling now valued at $2,101,000 (deductible is 1/2%).
The CEA premium will be
I'm going to consider their suggestion of increasing the deductible plus look at some of the small discounts for wildfire mitigation that I think my house already meets.
). I'm really surprised by your low CEA premiums. Ours have been quoted as $14k+ for as long as I can remember in this home I bought 14 years ago. I have never purchased it because it's unaffordable and the deductible is way too high to be useful. Also, a structural engineer told me I didn't need it.
Home is about the same value and replacement cost as yours. Our premium for fire/personal property nearly doubled last December to a little over $4K.
We're with Farmer's right now. I think they also stopped writing new CA policies.
Home is in a gray area on the Calfire map. Not far from an orange area.
Statistics: Posted by madbrain — Tue Mar 05, 2024 4:02 pm — Replies 40 — Views 2031