Is $700 too high (bad credit, insurance, condo)

[oneone10]

to pay for Condo Insurance. a yr? Policy details: $100,000 content, $100,000 attached fixtures (wall etc), 5,000 medical, guaranteed replacement coverage & $300,000 for something else I forgot Pls let me know. Thanks

[Viralmd]

Medical? What's medical doing on homeowners' insurance? That doesn't make much sense. Do you mean liability?

I have at a MINIMUM $1,000,000 in liability - because when people sue, they tend to sue BIG.

[downtownjc]

Most homeowners policies cover medical payments for injuries that occur in your home.

That quote is high though. Unless you have had previous claims, bad credit, or are in a high-risk area of some sort you might want to shop around. Also consider how much your contents are really worth. $100K contents is on the high side for a condo (unless its a very big one). And computers and electronics over a certain amount need a separate add-on policy.

You should also usually consider getting condo insurance from the same company as your auto insurance, as you often get a 10% discount on each in that case. It's not always the cheapest way but it often is.

[tahiti]

Originally Posted by downtownjc

Most homeowners policies cover medical payments for injuries that occur in your home.

That quote is high though. Unless you have had previous claims, bad credit, or are in a high-risk area of some sort you might want to shop around.

You should also usually consider getting condo insurance from the same company as your auto insurance, as you often get a 10% discount on each in that case. It's not always the cheapest way but it often is.

it seems high to me too, but maybe there are some extras in insuring a condo -vs- a home that i'm not aware of. i have much better coverage than the OP was quoted and mine is about $350/yr (not taking into account the dividend I receive).

[JerzBoy]

that sounds very high - i just got condo insurance for $225/yr. I had 35,000 content - 80,000 fixture and 300,000 liability. No medical.....

[oneone10]

Thanks all. I have been going back & forth & decided to go with Chubb. I will be paying $680/yr. $100,000 personal content, $75,000 wall et all, $500,000 premise liability which also includes the $5,000 medical expense, $500 deductible. I know Chubb may be more expensive but they have great reviews & I will rather have that comfort. Thanks