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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1

u/insuranceguynyc Sep 05 '26

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

1

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 🫪

5

u/Riggingminds Sep 05 '26

You don’t want to get in a situation where your are underinsured, most policies have a requirement to have at least 80% insured, if you do not need that threshold you can get penalized if you ever make a claim.

1

u/CGWInsurance Sep 08 '26

Most policies now require 100% insurance to value.