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Old 06-08-2012, 08:29 AM
 
Location: Pearland
799 posts, read 2,441,692 times
Reputation: 696

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Just drop your agent. Mine has stayed roughly the same for a very long time(8-10 years). I shop mine every single year, and every three or four years, switch agents to let them know they have to work for it.

My house is covered for about 250k, I have an ho3, 1%deducts, and I think mine was $1100 last time.

You need to work your agent. Sounds like he is working you.

They have limits on valuing your house. Its a deductible scam, but you have to play by their rules. Just make sure its as low as they will allow.
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Old 06-08-2012, 09:38 AM
 
23,974 posts, read 15,082,290 times
Reputation: 12952
Quote:
Originally Posted by danieloneil01 View Post
Read over the quote. If your house costs 150k to rebuild then don't let them insure it for 200k. Also don't let them include the land. It's not going anywhere.
Don't bet the rent money. Would not happen here, but a mud slide got my mom's house and lot. We also lost a lot at Bolivar to a hurricane. The mean tideline moved, the lot was gone.

The insurance is not just for rebuild. It needs to include removal of the damaged parts and lodging while repairs are made. Daughter's GE dishwasher spontaneously combusted. It was not even on. They were in temporary housing for 3 months, waiting on claims and contractors and repairs.
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Old 06-08-2012, 12:27 PM
 
4,246 posts, read 12,026,260 times
Reputation: 3150
I'm obviously not talking about land next to water. Over insuring is not smart but makes your agent extra money while costing you more. And I believe your daughter would need to have an extra policy for additional living expenses since Home Owners by itself usually doesn't cover it.
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