Home insurance in COS area? (Woodmoor, Monument: sales, rent, homeowners insurance)

[lonestar9918]

As the plan to relocate to COS becomes more "real", we are focusing in on specifics (such as home insurance)
What would be a good ballpark figure to work from for homeowners insurance on a 250-350k home in north COS or Monument?

I heard one person say 1k/year for 150k house. Am i looking at twice that amount?

Thanks in advance!

[beezle1]

The cost will vary depending on your insurance company and the amount of deductible you have will make a huge difference on the cost as well. I suggest calling a few companies to get a ballpark estimate.

[MrsMac]

On a new construction home in the $350,000 range (3,100 sq ft, two floors plus finished basement) up in the Northgate area homeowner's insurance will be about $656.00 a year with a $1,000 deductible.

Having owned homes in California (earthquake country) and Oklahoma (tornado alley) I was thrilled with the quotes i got for homeowner's insurance in COS!

[coloradogreycat]

Something to keep in mind is that, if you buy a house in a rural area with no fire hydrants, you will pay through the nose for insurance. Many of the homes up in Monument and in Northern COS are in areas like this. It can easily double your premium.

[lonestar9918]

That sounds soooo cheap! Im in TX and our rates are much higher, still nothing like CA or FL.

I will keep in mind in regards to homes in Monument. We havent looked at anything Id call rural..(looking in Woodmoor and the like) but ill dbl check on specific homes before buying.
We will likely rent for 12-24 months before buying, but we're planners and like to neurotically analyze all details we can before making a decision.
Thanks Y'all!

[Fullback32]

For my home in COS, here are the numbers:

Dwelling: $278,000
Other Structures: $69,500
Personal Belongings: (Includes Replacement Cost) $208,500
Loss of Use: Unlimited
Personal Liability:
Each Occurrence: $300,000
Medical Payments to Others: $5,000
Deductible: $1,000
Annual Premium: $827.65

Hope this helps.

[Mike from back east]

My insurance is now in the range of $1.2K/year on a home valued at ~$400-450k, down from a much higher number a few years ago.

We bought the house in 2005 for $550k and like everyone else, have seen home values decline.

Last year when reassessment time came around, I contested the city's numbers and succeeded in getting it assessed downward to reflect current realities, which will save me $1.1k in taxes just this year. I then had my insurance adjusted downward, since I no long live in a "high value" home, and that saved me another $1k this year.

If you've been here a while you owe it to yourself to check comps on recent sales in your neighborhood to see if you are over-assessed, then act accordingly with both your tax burden and your homeowner's insurance.

This website shows the actually assessments in the city, just put in the name of the street you live on, or a nearby street, or a name, etc. It's the source I used to justify my assessed value based on recent sales of an identical home.

[Kar54]

With many companies, the roofing material is one of the most important underwriting components. Types like 3-Tab and T-Lock shingles that are out of manufacture can greatly increase the cost of homeowners insurance. And wood shakes are hard to cover. If possible, look for a home with architectural dimensional composite roofing. Because of the multitude of hail claims over the past few years, the insurance companies love the newer shingles.

[bobby.bruno]

That sounds like a fair amount…if you’re not 100% decided on an insurance company yet, I’d suggest getting a quote from AARP. Their home and auto insurance rates are affordable but not just that, they will help you figure out how much coverage to get.

[Displaced Alaskan]

For my house I have a $1000 deductible and pay annually $1205.12 (through USAA). Built in 1986, 2000 sq ft home, 4 bedroom, and 3 bath. That price also includes my extra 1mil personal liability umbrella cost (I have 4 dogs, 2 of which are considered "dangerous" breeds).