My insurance premium for the year has been steady last 3 years but jumped 22% this year on my other business. I’ve been trying to figure out a number of where the scamdemic stimulus monopoly money is going to end up filtering out to be. I’m guessing that 22% or in that area is a good bet. If State Farm thinks it’s 22%, then who is NE need to disagree? When I get back into buying flips, I’ll bump all estimates up maybe 25%. Rentals I might keep the same, I don’t know if rents are up 22% to support a purchase increase like that. --24.152.xxx.xx

I bet it will keep climbing. --76.129.xxx.xx

It can be more than 22%. My son's bill for his house just arrived: $4,000. It was $2,000 last year and $1,200 the year before that. --76.178.xxx.xxx

Oregon, that jump would cause me to shop providers. --24.152.xxx.xx

The market still has not made sense out of where we actually are after all of that funny money was pumped into the economy. I think if anybody says they know, they are kidding themselves. I have seen some building materials, double in price, but not all of them. I have seen, some neighborhoods around here jump 30 to 40% in property value, but not double. Rents have not doubled, real estate prices have not entirely doubled and not all material has doubled. So how does insurance double? Do they factor labor in that account? Does anybody know how much the labor has jumped in the last four years? --24.152.xxx.xx

Four years ago I was paying a good guy $15/hr. Now I can't touch him for $25/hr unless it is an emergency or I have something else to trade with him on the side. --107.147.xx.xx

Come on, $15 was a great deal 4 years ago! Haha but still, that’s a 66% jump. --24.152.xxx.xx

Now we have distribution centers for box stores starting people out at $22/hr with no skills or background. I can't hire a punk kid for that and have to hold his hand and train him. --107.147.xx.xx

You need to go back to economics school or try it first time. Do you honestly think the the 3 stimulus checks, two in 2020 and one 2021 are the reason your insurance is going up 22% in late 2024? Look at their profits year over year and that will tell you where the increase is coming from. Guess what you don't have to pay it. You can shop around or go for self-insurance. You got this right? --208.102.x.xxx

So even my old 650 square foot wooden cottages are valued at $130k. We could probably do it ourselves for half or maybe 3/4 that, but you can't under-insure or they don't pay anything. --198.54.xxx.xx

Zero, I agree with seeing people getting hired at basic jobs for 20+ dollars an hour. Forklift operators are making 25 bucks an hour. --24.152.xxx.xx

NE-I am paying a good guy $30 an hour now but at the same time the houses i am flipping have a larger spread and rents have gone up considerably so it is working out for me --137.184.xx.xxx

Ken, are you finding flips in the first time homebuyer category or the upgrade second homebuyer category? Around here it seems to be second time buyer houses that are available. Expensive to buy and selling for very expensive dollars. --24.152.xxx.xx

There is a limited lifetime for direct effect and it is clearly defined as the initial change in the economy due to the spend of money. Money pumped into the economy 4 years ago during a major downturn with a large number of people losing their jobs is not going to cause your insurance to increase 22% this year. 90% of that money was spent within the first couple months after receiving it paying bills by people that have very little reserves. Try again bubba. --208.102.x.xxx

Yep, spent by the Normie’s that got the stimulus checks and funneled right into big businesses. But that money is still circulating. Keep thinking you know. One thing I learned in the past four years is any thought or opinion from some Vaxxed liberal I have to automatically ignore. --24.152.xxx.xx

That much money pumped into an economy moves the needle of the markets. After it spent by the recipients, it does not settle back to zero. In this case the excuse was all the people who had to have $6-8,000 per households for nothing. It settles back to what most investors on here are talking about now. Somewhere around 20 to 25% values being up. If you had any business sense you’d be able to see this. --174.240.xxx.xx

NE-I am one notch up above the ghetto,the current projects i got from folks being foreclosed and one i paid off the foreclosure,the other was fine with sub 2 and just catch up payments till i sell it. these will be first time buyers.sale prices about $170000 and $275000 but anyone who is actually paying there own rent can own these houses for the same as they pay in rent --137.184.xx.xxx

How much do you think your resale prices are up roughly? --174.240.xxx.xx

40% or more prices are up enough that the amounts these people owed i could not have done these projects before covid without letting them go to the auction.Overall this is working out just fine for me, the only problem is getting enough flips to keep the guys busy but i think that will change soon --137.184.xx.xxx

It couldn't possibly be the huge insurance payouts happening all over the country due to fires, storms, floods, hurricanes and mudslides, right? That would be too easy to figure out, wouldn't it? --73.2.xx.xx

Tim, another known liberal, are the natural disasters up 20-30% the last 4 years for real or just what your climate change news says? --174.240.xxx.xx

The natural disasters might be at the same level, but the material and labor costs associated are definitely much higher. --107.147.xx.xx

Yes. A direct result of the increase from the stimulus money. --174.240.xxx.xx

Labor costs are up because of TikTok. It has taught a whole generation or two that they don't have to *work* - why work hard as a plumber or electrician or HVAC installer when they can just live in a van, or hang off a cliff, or unbox purchases on camera, or talk in low voices, or decorate cakes, or any number of non-sensical enterprises...have camera and internet, make money... --198.54.xxx.xx

--98.235.xxx.xxx

--98.235.xxx.xxx

Good to know that I should probably budget more for insurance and other costs. --98.235.xxx.xxx

As to insurance going up. They operate a year or more behind. The payout on a claim now is higher because of inflation the last couple of years. That payout is against a policy that was paid with premiums set before inflation so they had to deplete their reserves to meet the claim requirements. Now they have to cover both inflation and the reserve depletion so a double whammy. I read several articles about this three or four months ago that was predicting as high as 30% increases in insurance this year. --209.205.xxx.xx

The National Centers for Environmental Information (NCEI) attributes the increase in billion-dollar disasters to climate change, increased vulnerability, and increased exposure. --73.2.xx.xx

Tim, a billion dollars in 2024 is not the same billion dollars in 1980. Not the same value. Of course 1980 billion dollar disasters would be FAR FAR less than todays. --174.240.xxx.xx

Oh and .gov? Nope don’t trust those statistics anymore either after 2020’s CDC run of statistics. So what do the smart investors have to say? 25% increase today since 2020 overall? --174.240.xxx.xx

Of course, everything is a conspiracy so you make $hit up, but provide no connection between the latest axe you're trying to grind and your topic. Are you claiming you've seen no evidence of a higher number of big disasters in the last few years??? --73.2.xx.xx

With my own, eyeballs, No. With biased, left-wing media, making everything into a disaster so they can push climate change? Yeah, maybe. There’s always floods, there’s always earthquakes, there’s always wildfires and there’s always tornadoes. You’re the one who’s claiming they’re increasing. So prove it. They might be increasing an occurrence per billion dollars, because the dollar has dropped in value so much since 1980. What’s the inflation rate on $1 billion from 1980 until today? 200%? 300%? 100%? My guess is it’s probably comparable to $1 trillion disaster today. How many trillion dollar disasters do we have per year now? Any? My guess it’s probably 3.3 like it was in 1980. --24.152.xxx.xx

US inflation calculator has 1B in 1980 being the same as 3.8B today. How many annual natural disasters are 3.8 billion or more? I don’t think hurricane Debbie is anywhere near that. Quick google search and you get 15 different answers --24.152.xxx.xx

I'd like to know if (and this data is probably impossible to find) the number of storms and other weather events has increased. Because they've even changed the definition of named storms. --198.54.xxx.xx

Thanks WMH, but who in this business wouldn't understand that prices have gone up in 40 years? --73.2.xx.xx

Basically you with your copy and paste of Dodge’s post. The storms are mathibg out to be about the same today as they were in 1980 with a slight increase. --24.152.xxx.xx

Kind of like the same people in this business that don’t understand when you pump funny money into a economy. It causes prices to go up and stay up. --24.152.xxx.xx

Coincidence? --76.129.xxx.xx

This is not just a problem about politics - it is a spending problem exceeding income. --24.101.xxx.xxx

I think Ray nailed it best with the last line. --107.147.xx.xx

How much does their spending more than their income TRULY MATTER when all they do if they need money is print more? It’s not the gold standard anymore. It's like when people cry about their tax dollars being wasted on the wrong things or how much they have to pay. The government does not need YOUR tax money. They print what they need. The tax system is designed to keep you down especially if you don’t learn to use the basics to your advantage. --24.152.xxx.xx

So as far as the insurance increases, add in the crazy amount of fires, floods, hurricanes and near hurricanes that have been occurring in more recent years. There has been hugh insurance payouts in recent years,.Yes the increase of building costs contribute to all of this also. --73.126.xx.xxx

Mike N, your last sentence was about all that was accurate. Most everything else sounds like it’s from The View. --24.152.xxx.xx

nut. Do you know who Bill Buckly was? He was a friend and we had several dinners together. A super intelligent man and a super debater who was embarrassed of some people who called themselves a Conservative. --73.126.xx.xxx

Don’t know who he is and don’t care. Just know that my insurance is up 22% due to scamdemic stimulus and am wondering if others are seeing the same. --174.240.xxx.xxx

Guess I cared enough to look him up. Father of the modern conservative movement. I do NOT consider myself a modern conservative. A modern conservative isn’t much more than yesterday’s democrat. I might be 1700’s-1800’s era conservative maybe. How I feel and what I’d like to see in this country can’t really be posted here or even shared with many I know. So I just laugh at our decline and go about my day. --24.152.xxx.xx

Again as I posted above, read the trade rags that follow the insurance industry not the more common lazy media that immediately report it as climate change without doing their homework. These guys actually look at the numbers coming out of the industry reporting and do the analytical work to understand it. The rate increases are because of inflation period. The last 2 years the insurance industry has paid out $1.1 for every dollar of revenue because the cost up per claim went up(inflation) but insurance rates were set not knowing it was going up that much. The insurance industry operates off of a reserve, a pile of money that guarantees funding when a huge event happens. They have had to pull money from their reserve the last 2 years. They have regulatory requirements that dictate how much reserve they must maintain. So they had to increase 10% just to break even and then another 12-15% to replenish the reserve so they don't drop below the statutory requirement. This is what happens when inflation goes crazy over subsequent years on industries where rates are set one to two years in advance of the expenses it is to pay for. Just ask any fixed income senior how they managed paying higher prices before their SS checks adjusted the following year. Same principle. --209.205.xxx.xx

Corporate earnings tell the tale. Extreme profiteering. --208.102.x.xxx

Leftist hogwash. --24.152.xxx.xx

MikeA's answer is the most correct! --198.54.xxx.xx

MikeA's answer is the most correct! --198.54.xxx.xx

Jac’s response. Mike A has close to the most accurate explanation of what I’m thinking. --24.152.xxx.xx

Crazy simple. --74.132.x.xx

It was caused by inflation period. --209.205.xxx.xx