[LVguy]

Hi guys just want to compare and see how much do you guys pay for homeowners insurance and what kind of coverages are necessary to get.

things like your deductibles, liability, medical coverage etc. First time buying a house I am not sure what I should get and what coverages ain't needed. Or which ones I should get more coverage and which ones to just get the min.

The quote I got from insurance company to rebuild the house is very close to the sale price , is that accurate? I think those two numbers should be very different? and I mean back in 2006 the house is worth almost double than now. If the market didn't go down at all, it only costs half to rebuilt it?

Just for references the house is 340k in Aliante.

[Willy702]

Homes cost around $110-120 per sf to rebuild, just about every insurance company is going to use the same math unless its a custom level home. Market value doesn't mean a thing to your replacement cost. Rates in Vegas are very low because there is little which can damage your home. No hail, no wildfires, no tornadoes or big storms. Most claims are going to be theft/vandalism, water damage and small fires. So just go with whatever the coverage determination is, to try to reduce it say $20k is going to save you very little.

Best value is usually $2,500 deductible if you have the resources to come up with it should the rare claim happen. If not then go with the $1,000.

[ft_chief]

My home insurance is $320.00 per year for a 2000 sf townhouse. My coverage is $240,000 with a $2500 deductible. So it looks like $120 per sf is a good idea for replacement cost.

[MollieW]

You will need more liability coverage if your home has a pool. The very minimum - 500,000.00. I find homeower's insurance very low here. Remember when purchasing your policy, it is the home that you need coverage for, not the land. Very little is going to happen to that.

[aluminum]

Originally Posted by ft_chief

My home insurance is $320.00 per year for a 2000 sf townhouse. My coverage is $240,000 with a $2500 deductible. So it looks like $120 per sf is a good idea for replacement cost.

Yes what company is that phone number for them tks and happy year

[ft_chief]

My home insurance is thru Geico who subcontracts out to Travelers Ins Co. My renewal rate for 2015 increased to $349.00 with a $2500 deductible.

[qingguy]

Here's my coverage, need to shop in around again this year:

$823 yr/$1,000 deductible
Dwelling $664,000 ♦ 125% Extended Replacement
Other Structures $13,280
Personal Property $332,000 ♦ Replacement Costs on Contents
Loss of Use $132,800
Personal Liability $300,000
Medical Payment $1,000

[aardogfsu]

I pay $12/month for $500,000 personal liability for each condo...some other stuff included but the legal min.

I also have car insurance with them, so I got a discount.

[SportyandMisty]

Originally Posted by LVguy

Hi guys just want to compare and see how much do you guys pay for homeowners insurance and what kind of coverages are necessary to get.

If you have significant assets, you need quite a bit of liability coverage regardless of your homeowners insurance.

[aluminum]

Originally Posted by ft_chief

My home insurance is $320.00 per year for a 2000 sf townhouse. My coverage is $240,000 with a $2500 deductible. So it looks like $120 per sf is a good idea for replacement cost.

That's a great Rate what company is that ? agent phone number by chance how can I contact them ?

Thanks KK