Thanks for the post Jim. Its a fact the HO policy has tripled since 1990 and it was all because of one lawsuit judgement that was NEVER paid 100% after all the appeals. My fire, EC and acc. plumbing cost less than $550.00 per year. A CPL cost $90.00 for 3 years and my theft policy cost 112.00 per year. Its with a very small Texas Mutual and I go to the meetings ever year, and they will never write mold coverage, or hire an adjuster who uses the word Mold in a report.
But my fellow Texas have the highest HO premiums in the USA from this fraud that was pulled on Texans from 1990 to 1994 and you can bet they will never get back to less than $1,000.00 per year for a $150,000. Cover on the building. When the policy states no mold remediation or testing will be considered as part of the loss. The rates may come down........
Just something to think about.. if an insurance company only needs 5% underwriting profit to be profitable in a certain state, do they have any real incentive to keep the premiums low by the claim payments. No not a fact, 5% is what it is and higher is better. BUT they should do away with the Deductible Clause with this attitude OR at least let the insured do the work @ xmate rates without O & P. Good to hear from the non kool aid adjusters.