Massachusetts home insurance rates soar after brutal winter

[unhappycamper]

http://www.heraldnews.com/article/20150713/NEWS/150719012/0/breaking_ajax

Some of the largest home insurers in Massachusetts are raising premiums by about 9 percent to recoup what they paid out in claims for damage caused by last winter’s record-setting snowfall.

Massachusetts home insurance rates soar after brutal winter
Posted Jul. 13, 2015 at 9:27 AM
Updated Jul 13, 2015 at 9:29 AM

BOSTON (AP) — Some of the largest home insurers in Massachusetts are raising premiums by about 9 percent to recoup what they paid out in claims for damage caused by last winter’s record-setting snowfall.

The Boston Globe reports that the increases, much steeper than premium hikes in the past few years, could translate to an additional $100 on the average Massachusetts premium of $1,150.

The Massachusetts Division of Insurance has approved an 8.9 percent increase on average for the state’s largest insurer, Mapfre USA Corp., beginning Aug. 1. Last year, the company, which insures more than 214,000 homeowners in the state, increased rates by 2.3 percent.

Safety Insurance Co., which covers nearly 150,000 homeowners in Massachusetts, plans to raise premiums by 9.1 percent starting in December.

[Paper Roses]

1. We can't win. I guess if the rates are not raised,

there will be one less skyscraper built, one less big bonus for exec's.
I heard that the Insurance Commissioner was going to review this rate hike proposal. Bet nothing changes.
While While the Commission is at it, how about reviewing the status of 'non-profit' Blue Cross?

[SamKnause]

2. My home insurance increased $186.00

last year.

My home insurance increased $212.00

this year.

It is now $1247.00 per year.

I live in a very poor rural area.

I have 12 acres and a rundown double wide.

When I moved here 13 years ago the insurance

was $535.00 per year.

It has increased every year.

It is now more then my property taxes.

I live in Ohio.

[merrily]

3. Oh, great. A once in a century winter and that increase will be part of premiums forever.

Fuck the approval from the Mass. Division of Insurance. Twice.

Thanks, unhappy camper, for all you do.