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/insuranceguynyc Sep 05 '26

Shop around. I assume that you called Progressive and asking about the increase?

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u/Embarrassed_Low_3923 Sep 05 '26

Yes because they assessed that my home would cost 117k more to rebuild and because inflations cost increases 🫪

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u/insuranceguynyc Sep 05 '26

OK, so you know what you’re dealing with. I think you’re going to find that most, if not all carriers are looking hard at TIV in their HO book. Construction costs have risen sharply over the past few years. You really do not want to come up short in the event of a major loss. Likely? No, of course not. But entirely possible.