We here in the Gulf South (New Orleans, especially) are getting hit hard with homeowners. It is almost impossible to insure an older New Orleans house (19th-early 20th century) even with everything updated. Most companies won't even talk to you, which forces most of us to use an "insurer of last resort" which up until recently was LA Citizens Insurance (they managed to sell off their policies to other firms around the country in Jan, but it's no better).
To illustrate, when I bought my 1800 sf home, built in 1914 with a slate roof (very good condition), I was quoted over $8,000 / year for a very minimal policy (rebuild of house + 25K contents). This was because of the slate roof and some plumbing that is still galvanized steel. Obviously I am not paying anyone 8K a year for homeowners, asnd there is no way I am destroying my artisan roof because of f#%$ing bean counters. Of course rebuilding cost is silly because 1) they cannot build houses like this anymore and 2) The house value has nothing to do with the property value, which is somehow what this is based on, and our prop values are crushing because of Mahattanites coming here to make it their little playground.
So, I had to go with a "dwelling only" which was cheaper (still about 3x what most people around the country pay for homeowners), but it's not a "real" policy - no liability, no loss of use, etc. USAA wants around 6.5K for a real homeowners here. That's still outrageous, but all the stories posted here are somewhat frightening. A 50% rate increase for a policiy that is already over 6K is not something I ever want to deal with. Is this really a thing? Can someone at USAA explain the crazy rate hikes I'm hearing about everywhere? Is there anyone else in New Orleans using USAA?
If you give us a call here 1-800-531-8722, or send us a message here with the details you provided above, we can get a homeowners insurance specialist in touch to talk about your property and rates. Thank you for posting here in the community.