[lumina]

Moving to Tradition end of month - offer on house accepted - need HOI and not familiar with the companies (from NH) or hurricane deductibles ;-) - any advice?

[LingLing]

Originally Posted by lumina

Moving to Tradition end of month - offer on house accepted - need HOI and not familiar with the companies (from NH) or hurricane deductibles ;-) - any advice?

Well, I am not that familiar with insurance company either. Usually, as I understand, the company should be "A" rated and backed by the state. "A" rate means that it has a lot of money in reserve and if it run out of money, the state will help. I used Tower Hill before and they were very good but their rate is higher than Royal Palm. My friend is in army and army also recommended Royal Palm to her. I guess it should be fine. The house should be insured by the replacement value (not the market value). The replacement value is the amount of money needed to rebuild the house. For example, according to appraiser, my house costs $350K to rebuild and I have 2% hurricane deductible. I will be responsible for 2% ($7000) damage, the insurance company will pay the rest. Don't worry about that 2%. Last time, after hurricane Wilma, my insurance company sent their appraisers and estimated so generously that I actually didn't pay any out of pocket money in the end (for example, They put in $6000 estimate to paint outside of my house and replace my garage door due to the scratches made by debris. This is on top of missing roof tiles. I just did some touch up paint myself and save the money. May not be that lucky for the next one). Send me a PM, I can give you two insurance agents' numbers and please call to compare so you can get a good rate.

[lumina]

I just sent you a PM as suggested. Appreciate your help. 12 days to go!

[lorriem]

Originally Posted by LingLing

Well, I am not that familiar with insurance company either. Usually, as I understand, the company should be "A" rated and backed by the state. "A" rate means that it has a lot of money in reserve and if it run out of money, the state will help. I used Tower Hill before and they were very good but their rate is higher than Royal Palm. My friend is in army and army also recommended Royal Palm to her. I guess it should be fine. The house should be insured by the replacement value (not the market value). The replacement value is the amount of money needed to rebuild the house. For example, according to appraiser, my house costs $350K to rebuild and I have 2% hurricane deductible. I will be responsible for 2% ($7000) damage, the insurance company will pay the rest. Don't worry about that 2%. Last time, after hurricane Wilma, my insurance company sent their appraisers and estimated so generously that I actually didn't pay any out of pocket money in the end (for example, They put in $6000 estimate to paint outside of my house and replace my garage door due to the scratches made by debris. This is on top of missing roof tiles. I just did some touch up paint myself and save the money. May not be that lucky for the next one). Send me a PM, I can give you two insurance agents' numbers and please call to compare so you can get a good rate.

Ling Ling we got tower hill a few months back after Allstate dropped us and they for all coverage for our home charge $2200. Royal palm that Allstate wanted us to get for the same coverage as Tower Hill wanted $4500.Royal Palm even went so far as try to bill us for that policy but we told them we cancelled Allstate (where they got our info) and went with tower Hill. They tried to tell us we couldn't do that but we said we cancelled Allstate prior to the end and even got a refund from them.

[LingLing]

Originally Posted by lorriem

Ling Ling we got tower hill a few months back after Allstate dropped us and they for all coverage for our home charge $2200. Royal palm that Allstate wanted us to get for the same coverage as Tower Hill wanted $4500.Royal Palm even went so far as try to bill us for that policy but we told them we cancelled Allstate (where they got our info) and went with tower Hill. They tried to tell us we couldn't do that but we said we cancelled Allstate prior to the end and even got a refund from them.

I don't know what is going on. Tower hill is a good company. For my house, the rate of Royal Palm is lower than that of Tower Hill for this year.

To: Lumina, I sent a message to you.

Good luck!

[losandjenn]

Replacement value $225K, HOI $1300 including flood
Tax Assessment $238K, tax est $5200 no homestead until next year.
I'm in PSL

[gil tirado]

Originally Posted by sunrico90

Let's post our premiums:

House value: $250K
Insurance: $1,500.00 per year with full replacement cost and 2% deductible

im interested in finding insurance for my house in fl.518 859 3756

[Songbird42]

Just got my HOI with Citizens.........$210,000 home value with $2,500 deductible..........$700 with major collape of home, no sinkhole coverage
if I were to take back the sinkhole coverage my bill would be $1,650 its like a poker gamble, do I gamble and hope that I don't get a sinkhole or do I pay the $1,650......I'm leaning towards $1,650 only because the house next door has 37 voids under his property and I'm only 15 ft away, better to be safe than sorry.

[clineberger]

House value $265K
Insurance $1200 replacement cost, 2% hurricane

[Donna-50]

Originally Posted by clineberger

House value $265K
Insurance $1200 replacement cost, 2% hurricane

With who, and did you just get the policy?