[wbowley]

Originally Posted by AONE

I have come across a site that can save homeowners insurance. Go Direct Insurance, Inc . They will offer 25% off your current policy amount. If you register as a charter member it will entitle you to addition 5% discounts for the next 4 years. The Charter membership is $10 and is refunded on the first premium. They also will do rental properties, and commercial. They need people to register, be it the free way or charter member. Tell your friends and spread the word.
ken

Do you get the same coverage for that discounted price? You can always get cheaper insurance if you decrease your coverage and raise your deductible. Better check the fine print to see what you're getting for the money.

[LewLew]

Originally Posted by DMX

Thanks for the details, Lew...
Actually, the house costs more (600K), the value above is the appraised value (without land).

I had assumed that Personal Property included everything in the house (jewelery, art, computer equipment, electronics, furniture)... I guess I was wrong. I need to verify this with the Agent and get an endorsement to that effect. If that is not the case, I will probably go for a lower value.

The Agent said that the "Other Structures" were for the open patio and open lanai (not covered). There is no pool in the house.

Thanks for the insight into the deductible. I guess i will leave it at 1K.

I will also reduce "loss of use"

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TowerHill has a "B" rating at AM Best and they say that the outlook is negative( Best's Rating Center - Company Information for Tower Hill Prime Insurance Company ). I might avoid them.

Same with Omega ( Best's Rating Center - Company Information for Omega Insurance Company )

AAA is quoting me MUCH higher at around $ 3420 a year!

Yes, bottom line is...insurance sucks! LOL
Good to know on the ratings. My fear with those though is that they are small companies, don't have a lot of coverages out there...so they will rate lower. The big boys always rate higher, but charge more.

I get you on the other structures. After just receiving a quote myself...for a much less expensive home...I think your quote looks good.

On the personal property...I was told jewelry had to be on a separate policy. I'm not sure about artwork etc. My artwork isn't as expensive as my jewelry, so I wasn't even thinking that. Yes, I know certain "personal" items are excluded.

The quote looks good if you lower the loss of use. You have good medical too...I was quoted almost your same premium, and only 3K medical.

[LewLew]

Just spoke with AAA...they are writing all policies through Citizens UNLESS you choose their "blanket" policy. It covers autos and cars under one policy. They told me that is the policy where I'd see savings. Their first quote was insane...but it was with Citizens. That might be why you saw the high premium for AAA.

[LewLew]

Originally Posted by DMX

I will be moving to Tampa next month. I have received a HomeOwners quote... Since I am not sure about the costs in Tampa (I am in Columbus, OH), please analyze...

This is for a brand new house (2008) in South Tampa

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St Johns Insurance Company (A rated)
$450,000 Dwelling - Replacement Cost
$9,000 Other Structures
$225,000 Personal Property - Replacement Cost
$45,000 Loss of Use
$300,000 Personal Liability
$5,000 Medical Payments
2% Hurricane Deductible - $9,000
$1,000 Property Deductible (All Other Perils)

ANNUAL PREMIUM: $2,525.00

If the All Other Perils Deductible is increased to $2,500, the annual premium would be reduced to $2,306.00
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How is St. Johns Insurance? Lots of other companies are not giving me insurance

FYI, just spoke to my agent, and you won't be able to lower your Loss of Use. It's a figured percentage of the total rebuilt cost premium. Let me know if St. John's is different. I was told this by Tower Hill. My loss of use, on a quote I received was 50K...and my home is only a 250K rebuildable value.

[LewLew]

Originally Posted by DMX

I will be moving to Tampa next month. I have received a HomeOwners quote... Since I am not sure about the costs in Tampa (I am in Columbus, OH), please analyze...

This is for a brand new house (2008) in South Tampa

------
St Johns Insurance Company (A rated)
$450,000 Dwelling - Replacement Cost
$9,000 Other Structures
$225,000 Personal Property - Replacement Cost
$45,000 Loss of Use
$300,000 Personal Liability
$5,000 Medical Payments
2% Hurricane Deductible - $9,000
$1,000 Property Deductible (All Other Perils)

ANNUAL PREMIUM: $2,525.00

If the All Other Perils Deductible is increased to $2,500, the annual premium would be reduced to $2,306.00
------------------------

How is St. Johns Insurance? Lots of other companies are not giving me insurance

One more thing...I am an Ohio girl! Grew up in Shaker Heights..BIG BUCKS fan, and went to UC..so I'm a Bear Cat in that sense. Welcome to Florida. I miss Tampa dearly....but our jobs took us to another part of FL.

[Donna-50]

I have St. John's because that was the cheapest one I could find when I needed them in July/August. From what I was told by several companies you can't lower the PP or loss of use.

Your quote looks pretty good to me, but I am a little south of you.

[DMX]

Originally Posted by LewLew

Yes, bottom line is...insurance sucks! LOL
Good to know on the ratings. My fear with those though is that they are small companies, don't have a lot of coverages out there...so they will rate lower. The big boys always rate higher, but charge more.

..........

I guess the ratings are based on "a leading indicator of the financial stability of a property and casualty insurer".

What this means is that the rating is a direct reflection of how much MONEY these guys have to pay their insured clients, in case a disaster strikes.

The number of clients doesnt matter for rating.

For e.g. if Company A has 20 clients and has 100 Million dollars, they rate higher than Company B that has 2000 clients and has 100 Million dollars.

There are other factors, but you get the idea...

The last thing you want is to pay lower premiums to an under rated company and get screwed when you really need their help when a disaster strikes...

That is what I learnt from reading about insurance.. and I am not a guru, by any means

[LewLew]

Originally Posted by DMX

I guess the ratings are based on "a leading indicator of the financial stability of a property and casualty insurer".

What this means is that the rating is a direct reflection of how much MONEY these guys have to pay their insured clients, in case a disaster strikes.

The number of clients doesnt matter for rating.

For e.g. if Company A has 20 clients and has 100 Million dollars, they rate higher than Company B that has 2000 clients and has 100 Million dollars.

There are other factors, but you get the idea...

The last thing you want is to pay lower premiums to an under rated company and get screwed when you really need their help when a disaster strikes...

That is what I learnt from reading about insurance.. and I am not a guru, by any means

Well, my husband and I are being transferred. He will be working in Ft. Myers. We are quoting some homes in Ft Myers, and a couple in North Port (although, while I am sad..we probably will end up in Ft Myers where I know no one, b/c the alternative is a 120 mile round trip commute daily for my husband). Here is what I got today:
Olympus?: Premium 2456 per year plus add 849 for flood
St Johns: Still waiting
Citizens: 2900 plus 1100 for flood
AAA: wrote me through Citizens so I don't know yet how much it would come down if I added my autos, and actually got covered by AAA
Tower Hill: 1700 plus 600-1600 for flood depending on my elevation certificate.

Nothing looks good. I current live in Jacksonville, and live on 3/4 of an acre in a very nice home....I paid 1007 through St John's until this March, when it increases to 1559...no flood though. I live 5 blocks from the river, so I'm not sure why I don't need flood...but I don't.

[SoFLGal]

Ok, here's what my policy looks like:

Olympus Insurance Company-
Dwelling insured for $250,000
Other structures- $5000
Personal Property- $125,000
Loss of use- $25,000
Personal Liability-$300,000
Medical Payments-$5,000
Total Premium-$874

We were with Edison with the same deductibles for $1983
My insurance guy told me that Olympus is new to Florida but has been writing in the Carolinas for years. He said they have very good rating there.

[LewLew]

Originally Posted by SoFLGal

Ok, here's what my policy looks like:

Olympus Insurance Company-
Dwelling insured for $250,000
Other structures- $5000
Personal Property- $125,000
Loss of use- $25,000
Personal Liability-$300,000
Medical Payments-$5,000
Total Premium-$874

We were with Edison with the same deductibles for $1983
My insurance guy told me that Olympus is new to Florida but has been writing in the Carolinas for years. He said they have very good rating there.

Hi there! you are lucky...b/c your home is so new. It's amazing what the boundary lines are. I've been calling around, as you know our situation...and I think it's proximity to water and flood zones. NP is land locked until you drive to the beach, right? I'm noticing that the quotes I received for NP and PC need no flood, but everything in Ft. Myers and Estero do need flood.