Fire insurance rates on the rise Detroit

[David L]

I just read that Detroit's fire protection rating has been downgraded causing home insurance rates to skyrocket. One more expense that makes owning a home too expensive for me in Detroit. While I'm at it, when is the absurdly high property tax problem going to be resolved? The reassessment process the city is undertaking won't be finished until 2017. The state municipal taxing system needs a major overhaul. What is taking the state legislature so long to act? And finally, I drive a decent car. enough said.

[Gpwrangler]

How much was it downgraded and how much did rates go up?

[David L]

How much was it downgraded and how much did rates go up?

downgraded one step lower on national scale used by insurers. Rates up 50% and more.

[313WX]

I just read that Detroit's fire protection rating has been downgraded causing home insurance rates to skyrocket. One more expense that makes owning a home too expensive for me in Detroit. While I'm at it, when is the absurdly high property tax problem going to be resolved? The reassessment process the city is undertaking won't be finished until 2017. The state municipal taxing system needs a major overhaul. What is taking the state legislature so long to act? And finally, I drive a decent car. enough said.

This could finally be what tips the scales as far as homeowners & businesses who were on the fence about staying in the city.

2020 population of 500,000 or below, here we come!!!

[DetroitBoy]

No surprise. Detroit is still too crime ridden and exists from one violent episode to the next. It's great to see activity downtown but until it goes for a zero tolerance on crime, expect the situation to continue to deteriorate. This time it will be different because it is taking the surburbs down with it as they struggle with unchecked, violent, spill over crime.

[softailrider]

Republican governor, republican senate, republican house, republican state Supreme Court. Great time to be the insurance industry in the State of Michigan, you can run roughshod over the consumers with absolutely no problems at all and that's what's happening.

[SyGolden48236]

Republican governor, republican senate, republican house, republican state Supreme Court. Great time to be the insurance industry in the State of Michigan, you can run roughshod over the consumers with absolutely no problems at all and that's what's happening.

It would be more correct to say a city controlled for decades by Democrats, that has third-world out of control crime, that runs roughshod over its residents while charging them exorbitant tax rates for grossly sub-par city services and a fire department managed by Democrats that cannot provide proper equipment for the firefighters who risk their lives day in and day out to protect a crumbling city with an out of control arson problem. This has caused Detroit's insurance rating to drop thereby causing an increase in insurance rates.

Insurance companies charge premiums based on the risk that they take in insuring an asset. Detroit is a horrible risk.

[Dan Wesson]

It would be more correct to say a city controlled for decades by Democrats, that has third-world out of control crime, that runs roughshod over its residents while charging them exorbitant tax rates for grossly sub-par city services and a fire department managed by Democrats that cannot provide proper equipment for the firefighters who risk their lives day in and day out to protect a crumbling city with an out of control arson problem. This has caused Detroit's insurance rating to drop thereby causing an increase in insurance rates.

Insurance companies charge premiums based on the risk that they take in insuring an asset. Detroit is a horrible risk.

You can bet the the underwriters have got the unadulterated numbers to back them up.

[softailrider]

It would be more correct to say a city controlled for decades by Democrats, that has third-world out of control crime, that runs roughshod over its residents while charging them exorbitant tax rates for grossly sub-par city services and a fire department managed by Democrats that cannot provide proper equipment for the firefighters who risk their lives day in and day out to protect a crumbling city with an out of control arson problem. This has caused Detroit's insurance rating to drop thereby causing an increase in insurance rates.

Insurance companies charge premiums based on the risk that they take in insuring an asset. Detroit is a horrible risk.

Much of what you stated in that first paragraph is true, however, you must understand that insurance company's will use any excuse to raise rates. As someone employed in the industry on the consumer side of the fence for 36.5 years and counting I can tell you they are actually paying less claims then they used to, tying up as many claims as possible with their attorneys who are on retainer anyway. If you have a claim in the city, and your last name is Arabic or Albanian, I can categorically say you're going to have problems getting that claim paid.

[jerrytimes]

Republican governor, republican senate, republican house, republican state Supreme Court. Great time to be the insurance industry in the State of Michigan, you can run roughshod over the consumers with absolutely no problems at all and that's what's happening.

Stop it.... What an immature post. City has been ran and inhabited by mainly Democrats since the 1960's if not longer. Why aren't they to blame? Is that fact not convenient?

[softailrider]

Stop it.... What an immature post. City has been ran and inhabited by mainly Democrats since the 1960's if not longer. Why aren't they to blame? Is that fact not convenient?

Might sound immature to someone who has done absolutely no homework and just decides to type. The only consumer bad faith legislation against insurance company's was passed during the Granholm administration. I was never a fan of her, but that's when it happened. Couldn't happen these days.

[jerrytimes]

Might sound immature to someone who has done absolutely no homework and just decides to type. The only consumer bad faith legislation against insurance company's was passed during the Granholm administration. I was never a fan of her, but that's when it happened. Couldn't happen these days.

Did you read what I was replying to?

[Zacha341]

I got your point. We've been thru the ringer by both sides of the political spectrum.

Did you read what I was replying to?

[softailrider]

Did you read what I was replying to?

Sure did, you seem to be absolving the insurance industry for gouging Detroit residents for house insurance. That's real far from the truth of the situation.