Homeowners insurance rate hike

[Glacier]

Your gonna have to explain that one. The markets are at record highs so I don't understand the return on investment argument.

Markets always go up in the long run, but the rate at which they go up is what is important, as is the volatility.

As for the $1000 bucks/year, that's cheap. No sense in complaining about that. My brother has an average priced home in Kelowna, and pays more than $1500/year.

[wanderingman]

Ours went up approx $7 and that was less than 10%

So what? we are talking house insurance not renters insurance BIG BIG difference.

[wanderingman]

Last year, my insurer said this was as a result of Alberta's floods. I wonder if that is still having fallout effect on our rates.

My house insurance in December went up 35% Tried several insurers and all up 30-45% ALL said it was because of the billion dollar alberta flooding
What picks my *bleep* is Iam in a Zero flood zone and yet I get nailed for some *bleep* in alberta whom choose to live in a flood zone makes no sense to me at all

[wanderingman]

Insurance rates have been going up for a variety of reasons, but one of the big ones is that insurance companies make their money by investing the market, and since the market has not been giving them the returns that it used to, they have to up their rates to compensate.

not sure where you dreamed that up but I seriously doubt the validity of your statement

[GordonH]

Insurance Companies make money by just plain odds.

Okay, they believe what are the odds that more money goes out then comes in. Up until recently (last decade) those odds have been big time in there favour (more money coming to the company, then going out due to claims). As this slowly shifts more the other way, they need to increase there rates to customers.

Insurance Companies hedging the bet nothing bad will happen, in return you (policy holders) pay them just to be on the safe side.
20, 30 or 40+ years later & thousands of dollars of monthly payments, still nothing happens. Who benefits

[Glacier]

not sure where you dreamed that up but I seriously doubt the validity of your statement

Some story on CBC.

[Bsuds]

Ours went up approx $7 and that was less than 10%

So what? we are talking house insurance not renters insurance BIG BIG difference.

Sorry, should have added that was per month!

[wanderingman]

"

Glacier"]"wanderingman"]not sure where you dreamed that up but I seriously doubt the validity of your statement
Some story on CBC.

post a link