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Old 07-03-2013, 09:01 AM
 
Location: Forney Texas
2,110 posts, read 6,465,044 times
Reputation: 1186

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I pay a little over $700 a year for insurance with Liberty Mutual. My house is a brand new 1900SF home. I have a 1% deductible.
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Old 07-03-2013, 10:23 AM
 
11 posts, read 10,940 times
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I got my house insurance today... $1200 for a $2400 sq ft house.....
anyone has encompass insurance? and any experience with with claims system?
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Old 07-03-2013, 10:42 AM
 
Location: North Texas
2,482 posts, read 6,532,564 times
Reputation: 1726
Quote:
Originally Posted by DaveG99 View Post
I pay a little over $700 a year for insurance with Liberty Mutual. My house is a brand new 1900SF home. I have a 1% deductible.

Wow I just got my renewal and I pay $1860. 30 yr old home @ 2100 sqft. single story same dedcutible.
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Old 07-03-2013, 10:47 AM
 
Location: Forney Texas
2,110 posts, read 6,465,044 times
Reputation: 1186
Quote:
Originally Posted by LQQKOUT View Post
Wow I just got my renewal and I pay $1860. 30 yr old home @ 2100 sqft. single story same dedcutible.

I bought my house in Forney so it was under $200k so that may be why I pay less. Less value means less insurance right?
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Old 07-03-2013, 10:59 AM
 
Location: North Texas
2,482 posts, read 6,532,564 times
Reputation: 1726
Quote:
Originally Posted by DaveG99 View Post
I bought my house in Forney so it was under $200k so that may be why I pay less. Less value means less insurance right?
My home is less then 200K, my credit is good ? I wonder....
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Old 07-04-2013, 11:02 PM
 
3,478 posts, read 6,558,671 times
Reputation: 3239
Another thing to look at...make sure they are accurately covering your home. When ours when up 20% I called because I wasn't happy. The agent looked at our current coverage and found we were covered for "luxury" bathrooms because that is what most of the homes in Coppell have. Marble, granite, etc. Ours our new, but builder grade level. That got me $150 back. I'm not sure if I missed it when we signed up or if they assumed. I actually need to look at see if I can get some $$ back, but it is likely a lost cause

Also, when I was shopping, some of the big names were nearly double. State Farm, Allstate, etc.
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Old 07-05-2013, 08:12 AM
 
Location: 60093/75205
173 posts, read 399,083 times
Reputation: 157
Quote:
Originally Posted by TurtleCreek80 View Post
I say this all the time on the forums but no one ever listens!! Texas is ONLY cheaper IF one is a very high income individual who buys a home considerably below the "norm" for his/her income -> ie, if someone with a $500k HH income moves from Tri-State/ IL/ CA and buys a $500k home (vs a $1-2M home common among income peers), then the likely $40-50k state/city income tax they are leaving behind is only offset by a $10k property tax bill (anywhere from $0-5k more than where they came from, unless it was Long Island or Milburn, NJ type rates) and and perhaps an extra $2-5k in insurance between cars & home, thus netting $30-40k in additional net income.

For all the "normal" dual income, Collin County type relo's with $100-200k HHI and a $300-500k home, there will be very little (or no) net income surplus. The offset in state/ city income will easily be eaten up by property taxes, home & auto insurance, tolls, and the overall increased costs in running a much larger home than wherever they moved from.
This. Moving from Chicago's North Shore (New Trier District) we had among the highest taxes in the state, and were shocked when a TH in Uptown 1/5th the size and value had taxes of only $3000 less!!!! We pay pretty close to the same amount for the two properties in HO/Excess liability insurance. Utility costs per kwh may be less, but the usage eats up any savings. Car Insurance is at least double.

I don't get sticker stock by the HP home prices, but the carrying costs are mind boggling..Transferees need to take off the rose colored glasses when becoming enamored with the home prices and start looking at the big picture. Unless you are in the demographic TC cites, it's not a whole lot/any cheaper, even from high COL markets. Having owned property here for a few years, we knew it going in, but I shudder when i read these posts that start "I can't believe how much house I can buy in XXXXX..."!
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Old 07-07-2013, 07:03 AM
 
28 posts, read 41,499 times
Reputation: 34
I was offered a surprisingly low rate of $1,200 per year for an HO-B with a 1pct deductible for a 4kSF home. I didn't feel comfortable at all with a 1pct deductible for all perils, so I went with another company that offered a $2k deductible on non - wind and hail perils for $1500.

$3k/yr for insurance seems high, but it depends on whether you package in auto, and whether you've had any claims in the past few years.
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