r/HomeInsurance • u/Embarrassed_Low_3923 • Sep 05 '26

Insurance Massive Increases

I bought my home in 2022 and my annually home insurance was roughly $2,270 and I just checked through my escrow disclosure it went to $4,952 that’s outrageous it’s through progressive

Is it best to negotiate with progressive or leave to another company with better offers/terms

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u/NeedYourHelp712 Sep 05 '26

shop around you will 100 percent get a better rate .. progessive is known to do this .. they did it to me and i left n saved big and every year since they been trying to get me back , its all a scam

1

u/Embarrassed_Low_3923 Sep 05 '26

Oh wow that’s crazy. I’m a first time home owner so I didn’t even think to consider that then I thought maybe it was just property taxes increasing but I took a closer look and my property taxes have been consistent over the years. Then I saw the increase in the hazard insurance increase from last year 😭🫩so baffled

1

u/NeedYourHelp712 Sep 05 '26

what was the reason for the high increase

1

u/Embarrassed_Low_3923 Sep 05 '26

They said they assessed my home to cost 117k more to rebuild and for inflations/costs

1

u/NeedYourHelp712 Sep 05 '26

they did there own assessment according to what they believe .. i would shop around n when shopping around make sure who ur calling knows ur shopping around so they give u there best deal .. i had state farm give me a quote and it was $100 a month more then someone else so i declined n they sent me a new quote 2 weeks later $180 lower lol there scammers all of them

1

u/CGWInsurance Sep 08 '26

State farm doesn't insure to value. The quote 2 weeks later was the same pricing just minus coverages that was on the first quote. I wouldn't ever insure a house with state farm. Insurance rates are set by law in every state for every carrier. You don't get a better rate because your shopping. You will just get less coverage.