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Issues with sleep
I purchased house in summer last year, I bought it all cash(no mortgage). I felt it'd be good to save on homeowner insurance, as the house is in decent condition. I haven't needed to replace roof or anything. I am now shopping for insurance, I'm getting quote of 3-4k a year, while others pay like 1200 a year in my community. I don't know if its due to gap in insurance, but its bad now, I'm wondering if I delay buying insurance will premiums go further up? Also which is reasonable insurance company, I'm in Austin, TX Lemonade won't cover me as they have strict underwriting policy. TC:400k YOE:11
Shop around. Lemonade isn't cheap for me. Call your car insurance and they usually give a discount.
Housing insurance has been going up like 20% a year for the last 6 years or so. I think it should keep going up. State farm and other companies are claiming 20 billion dollar losses each year. In places like California and Florida, insurance companies are no longer doing business. If people are getting less in your community, ask them who is insuring them and what packages they have. As in car + home, etc
Thats cheap for Texas. Serious gamble buying a house in cash and not having insurance
What's the dwelling coverage you are inputting? My premium in Austin was 3k in 2022 (when I purchased) and now it's 4k.
So you didn’t have insurance for a year? That’s pretty risky. Usually gaps in coverage will increase your premiums. You might be able to call them and explain you didn’t technically need coverage so it’s not negatively effecting you.
ok will give it a try