Homeowner's Insurance - How to decide?

[Flamingo13]

We have Erie Insurance and are very happy with them. We have both homeowner's and auto, haven't had many claims but when we did they were great.

[ManWithoutQualities]

We use Amica for Auto, Life, and Renter's insurance. I don't know if their rates are the absolute lowest, but the customer service has been fantastic. We've had a few auto claims and they have always been prompt and hassle-free.

I remember once a AAA representative was trying to sell me some insurance and I told him we were happy with our company. He asked who it was. When I said Amica, he kind of threw up his hands and said "Oh right, well, they usually win those customer satisfaction surveys," and stopped his sales pitch.

[ACWhite]

Have been happy with State Farm for years - get all their discounts because I have homeowners, auto, prof. liability, umbrella through them. When I had two small claims years ago, they were responsive and reasonable--rates went up only temporarily, a small amount. (These days, I would not have filed one of the claims due to fear of cancellation - no matter what company). They also helped with a neighbor that was endangering my property. Questions always answered quickly. Also, State Farm offers a much lower premium on your homeowners if you agree to a fairly high deductible (maybe 1% of the loss, e.g., on $300000 house (land excluded) coverage, you pay the first $3000 of the loss, they pay the rest). If you could afford to take a hit like that, you might save a lot in the long run, especially if you are fortunate to avoid any need for claims. I figured that for claims totaling below my deductible, I probably wouldn't file anyway because I wouldn't want them on my record, possibly triggering higher premiums or cancellation.

[mojo_1979]

Have been happy with State Farm for years

I suppose you're happy because you've never asked them to pay for extensive damages to your home. All insurance companies seem great until it comes time for them to pay up.


"A Mississippi jury has ordered State Farm Fire & Casualty Co. to pay $2.5 million in punitive damages for refusing to pay the claim filed by a couple whose house was destroyed by Hurricane Katrina. The award could help hundreds of other homeowners fighting insurers for denying to pay billions in storm damage."

Insurer penalized $2.5M for not paying for Katrina damage - On Deadline - USATODAY.com


"State Farm Insurance supervisors systematically demanded that Hurricane Katrina damage reports be buried or replaced or changed so that the company would not have to pay policyholders' claims in Mississippi, two State Farm insiders tell ABC News."

http://www.propeller.com/viewstory/2...tml&frame=true

[knopfler]

Originally Posted by mojo_1979

I suppose you're happy because you've never asked them to pay for extensive damages to your home. All insurance companies seem great until it comes time for them to pay up.


"A Mississippi jury has ordered State Farm Fire & Casualty Co. to pay $2.5 million in punitive damages for refusing to pay the claim filed by a couple whose house was destroyed by Hurricane Katrina. The award could help hundreds of other homeowners fighting insurers for denying to pay billions in storm damage."

Insurer penalized $2.5M for not paying for Katrina damage - On Deadline - USATODAY.com


"State Farm Insurance supervisors systematically demanded that Hurricane Katrina damage reports be buried or replaced or changed so that the company would not have to pay policyholders' claims in Mississippi, two State Farm insiders tell ABC News."

http://www.propeller.com/viewstory/2...tml&frame=true

This is truly a totally separate issue with a totally separate thread - whether flood coverage is included in a homeowners policy (it's not), but more importantly whether the flood or the wind came first with Katrina. With most/all policies, if the wind caused the damage, there's coverage, and if the flood caused the damage, there's not. It's a total chicken and egg issue, and multiple insurance companies got caught splitting hairs. It's worth mentioning that the company to get spanked the most on this wasn't State Farm, it was Allstate.

There is something relevant here, which is whether the insurance company you go with is going to drop you when you have a claim, or if you get particularly unlucky and have two claims in a couple years. That's a particularly good reason to look at some of the larger firms which have histories of not doing that.