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Old 02-25-2016, 04:50 PM
 
Location: Tennessee/Michigan
28,220 posts, read 47,646,554 times
Reputation: 19730

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Quote:
Originally Posted by jlawrence01 View Post
When is the last time that you have hit the pavement and actually sought quotes from several carriers in an effort to reduce the cost? There are perhaps 30 carriers who underwrite business in that state.
I've been out shopping for cheaper insurance and so far have not found any yet. Went too five so far. Still looking.


I can live in a 33 ft. 2010 Keystone 5th wheel camper for 300.00 a year that is full coverage.
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Old 02-25-2016, 05:33 PM
 
Location: Jamestown, NY
7,841 posts, read 7,341,108 times
Reputation: 13779
Quote:
Originally Posted by saralvr View Post
When did you buy the home? Insurance companies have to pay to replace your home. They've established its current value at 430k, therefore you are charged accordingly.
This. It's less about what the home's value is and more about its replacement value. Then add in risk factors. The obvious ones are things like hurricanes and tornadoes, but lesser ones include living in a rural area with only a volunteer FD that's 3 or 4 miles away and no water lines (ie, hydrants) at the street.
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Old 02-25-2016, 11:41 PM
 
13,978 posts, read 7,446,942 times
Reputation: 25530
Quote:
Originally Posted by arwenmark View Post
In MA and in WV my house insurance ran/runs 1600 a year. House on Cape cod is 700 sq ft. House in WV is about 2500, three story brick. trouble is insurance companies will only insure for what THEY determine is FULL REPLACEMENT COST. Well I bought the WV house for 36K and they insist on insuring it for 430k.
Cape Cod is tough. I'm in coastal Massachusetts with the same problem. An awful lot of people are pushed to the expensive state-run Massachusetts Property Insurance Underwriters Association. It's not great insurance and it's not great service. I fortunately have a 20+ year relationship with my insurance company with homes, cars, boats, and an umbrella policy with them. I'm not getting gouged $1,600 but it's still really expensive. I have enough of a wind damage exclusion that if a tree falls on the house, I'm paying for the repair out of pocket.
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Old 02-26-2016, 07:33 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
29,855 posts, read 54,568,102 times
Reputation: 31233
I'm paying about $1,900 for a 3,000 sf home worth about $700k here in the Seattle area, and that includes earthquake coverage. The cost is tied to the the cost per square foot for construction and the frequency of natural disasters as well as emergency services distance. We bought here in 1993, and it has doubled since, but I still consider it reasonable.
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Old 02-26-2016, 04:23 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,657 posts, read 40,029,981 times
Reputation: 23811
Yes, states with high risk and claims get hammered. Even tho my TX properties are in a very low risk area, they are 2x my WA rates. Insurance companies compile and run the stats daily. State insurance commissions set the allowable rates. (Afair)

Always get plenty of quotes annually, I get served extremely well by 'Farm Bureau' / CountryCompanies YMMV
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Old 02-26-2016, 05:09 PM
 
Location: ☀️ SWFL ⛱ 🌴
2,441 posts, read 1,677,570 times
Reputation: 8726
The insurance companies will also run a CLUE report to send how many claims hav been filed in the past which affects the quoted rate.
6 ways to avoid home insurance snafus

Last edited by jean_ji; 02-26-2016 at 06:34 PM..
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Old 02-27-2016, 04:55 PM
 
14,266 posts, read 24,021,014 times
Reputation: 20101
Quote:
Originally Posted by John1960 View Post
I've been out shopping for cheaper insurance and so far have not found any yet. Went too five so far. Still looking.


I can live in a 33 ft. 2010 Keystone 5th wheel camper for 300.00 a year that is full coverage.

Have you been to a local INDEPENDENT agent? Those agencies generally represent 8-10 different insurance companies and write business for some of the smaller, more conservative companies that are NOT spending MEGABUCKS on cutesy commercials that are on TV every hour.
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Old 03-01-2016, 08:45 PM
 
Location: Tennessee/Michigan
28,220 posts, read 47,646,554 times
Reputation: 19730
Quote:
Originally Posted by jlawrence01 View Post
Have you been to a local INDEPENDENT agent? Those agencies generally represent 8-10 different insurance companies and write business for some of the smaller, more conservative companies that are NOT spending MEGABUCKS on cutesy commercials that are on TV every hour.
Thanks for the information.
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Old 03-03-2016, 10:50 AM
 
Location: Northern panhandle WV
3,007 posts, read 2,177,266 times
Reputation: 6696
Quote:
Originally Posted by jean_ji View Post
The insurance companies will also run a CLUE report to send how many claims hav been filed in the past which affects the quoted rate.
6 ways to avoid home insurance snafus
I was with my company for over 30 years now and never filed a claim.
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Old 03-03-2016, 11:36 AM
 
Location: ☀️ SWFL ⛱ 🌴
2,441 posts, read 1,677,570 times
Reputation: 8726
Quote:
Originally Posted by arwenmark View Post
I was with my company for over 30 years now and never filed a claim.
Same here, 30 years and no claims. I'm waiting for the other shoe to drop, or in my case some really big trees.
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