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Old 03-23-2013, 10:10 PM
 
Location: Katy, TX
105 posts, read 236,382 times
Reputation: 147

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Quote:
Originally Posted by pnc66 View Post
I'm not sure I understand, what is Insurance Mortgage?

Anyway, thank you all for your suggestions. I had shopped around and for those who would even talk to me, either the quotes were more expensive for the same amount of coverage or a little less expensive for way below the coverage amounts I currently have. I went ahead and reluctantly renewed with Farmer's. Unfortunately, Liberty Mutual never returned my calls until too late. I left them several messages and they kept promising to have an agent get back with me but they didn't and I was running out of time. I guess next year I need to start shopping around in early January or something.

One thing I did find out is that the storms in the North East have somehow made our rates go up. I'm not sure how or why but I'm wondering if that's just an excuse to raise the rates.
It's also called PMI (Private Mortgage Insurance) or MIP (Mortgage Insurance Premium) depending on the type of loan you have. It's basically an extra fee they charge if your equity is below 20%.
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Old 03-23-2013, 11:07 PM
ptt
 
497 posts, read 637,153 times
Reputation: 692
My home owner insurance with statefarm is up from 3200 to 3800 this year! It is too expensive for a 260k home.
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Old 03-24-2013, 08:09 AM
 
1,915 posts, read 3,240,059 times
Reputation: 1589
Quote:
Originally Posted by ptt View Post
My home owner insurance with statefarm is up from 3200 to 3800 this year! It is too expensive for a 260k home.
That is appallingly outrageous, unless that includes flood and you live in a coastal county. If not, you can certainly do better, possibly half that. State Farm once quoted me $4k on a property, and I ended up with Liberty Mutual with $1.3k for the same coverage.
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Old 03-24-2013, 08:36 AM
 
Location: Spring, Texas
126 posts, read 240,523 times
Reputation: 126
Quote:
Originally Posted by ptt View Post
My home owner insurance with statefarm is up from 3200 to 3800 this year! It is too expensive for a 260k home.
That's exactly what happened to us with Nationwide.

Then we shopped and got better coverage with about half the cost with Liberty Mutual.

I can give you our agent info if you pm me. They also cut our auto premium in half!
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Old 03-24-2013, 10:06 AM
 
Location: Waterworld
1,031 posts, read 1,451,684 times
Reputation: 1000
Unfortunately, there is no such thing it seems as lowering your rates due to amount of years you stay with a company and loyalty shown to them, they instead take your loyalty as a sign of complacency and figure that you are not going to shop around.. which in turn makes them feel that they can nickel and dime you.
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Old 03-24-2013, 11:16 AM
 
1,915 posts, read 3,240,059 times
Reputation: 1589
Quote:
Originally Posted by jeremy2788 View Post
Unfortunately, there is no such thing it seems as lowering your rates due to amount of years you stay with a company and loyalty shown to them, they instead take your loyalty as a sign of complacency and figure that you are not going to shop around.. which in turn makes them feel that they can nickel and dime you.
Agreed.
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Old 03-24-2013, 11:48 AM
ptt
 
497 posts, read 637,153 times
Reputation: 692
Quote:
Originally Posted by Htown2013 View Post
That is appallingly outrageous, unless that includes flood and you live in a coastal county. If not, you can certainly do better, possibly half that. State Farm once quoted me $4k on a property, and I ended up with Liberty Mutual with $1.3k for the same coverage.
My home is in 77094 so, no where near the coast. We will shop around for sure. I think it is way too much. Friends in San Francisco bay area paid 1500$ for thier million dollars home i don't get it why ours are outrageously expensive.
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Old 03-24-2013, 12:37 PM
 
1,915 posts, read 3,240,059 times
Reputation: 1589
Quote:
Originally Posted by ptt View Post
My home is in 77094 so, no where near the coast. We will shop around for sure. I think it is way too much. Friends in San Francisco bay area paid 1500$ for thier million dollars home i don't get it why ours are outrageously expensive.

State Farm and Farmers are very high here. It's almost as if they don't want to insure these houses. Others here have much better rates, but overall ours are much higher than CA for the same house.
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Old 03-24-2013, 12:38 PM
 
23,974 posts, read 15,078,314 times
Reputation: 12952
Quote:
Originally Posted by ptt View Post
My home is in 77094 so, no where near the coast. We will shop around for sure. I think it is way too much. Friends in San Francisco bay area paid 1500$ for thier million dollars home i don't get it why ours are outrageously expensive.
Texas has no government regulators or oversight. We do have an insurance commission. They all got rubber stamps the day they were appointed.
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Old 04-16-2013, 08:08 AM
 
5 posts, read 7,829 times
Reputation: 10
Hello everyone, I have stumbled onto this thread because my homeowners policy just went up again. It is going from 2,000 to 2,400 a year. I own a 100,000$ house in La Porte. Are you kidding me? Are most people paying this type of rate in the La Porte area? Most places I have called do not even insure at all over here. I am not on the east side of 146, Im on the west. Can someone help please?
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