Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New York > Long Island
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 10-28-2017, 04:45 PM
 
38 posts, read 30,083 times
Reputation: 34

Advertisements

Up until a week ago, I was completely insurance ignorant. However, as I've been doing some home insurance shopping recently and have been in contact with various providers (looking at older CD forum postings has helped a lot as well), I've been learning some basics. So now, I'm aware of HO-3 and HO-5 type policies (and vaguely aware of HE-7, which seems to be sold in some parts of the country), hurricane deductibles, and triggers for when the hurricane deductible kicks in.

Just wondering which insurance companies everybody is using, what type of policy they have opted for, what coverage or extra endorsements they consider important, and how much their premiums are for their square footage. Also, if you've had to make a claim, how hard was it to get the insurance company to pay out?
Reply With Quote Quick reply to this message

 
Old 10-28-2017, 06:43 PM
 
2,771 posts, read 4,499,860 times
Reputation: 2236
Quote:
Originally Posted by likm View Post
Up until a week ago, I was completely insurance ignorant. However, as I've been doing some home insurance shopping recently and have been in contact with various providers (looking at older CD forum postings has helped a lot as well), I've been learning some basics. So now, I'm aware of HO-3 and HO-5 type policies (and vaguely aware of HE-7, which seems to be sold in some parts of the country), hurricane deductibles, and triggers for when the hurricane deductible kicks in.

Just wondering which insurance companies everybody is using, what type of policy they have opted for, what coverage or extra endorsements they consider important, and how much their premiums are for their square footage. Also, if you've had to make a claim, how hard was it to get the insurance company to pay out?
If you can, bundle it with your auto & any other policy’s, all will be a lot cheaper.
When Allstate dropped my homeowners years ago ( no claims in 20 years since I had them) my auto insurance went up a few hundred per year because I wasn’t getting the “bundled rate”. I’m in the middle of the Island & was considered high risk. Well, I am now with Utica National. About the same rates, but AMAZING customer service. I had 2 auto claims.

So, for 20 + Years, I wasn’t “In good hands”.
I wish they stopped calling me! They drop me & now call me to sign up again. HA, No Thanks!
Not in good hands!
Reply With Quote Quick reply to this message
 
Old 10-28-2017, 09:18 PM
 
1,606 posts, read 2,945,673 times
Reputation: 1710
I just had my house insured with the Andovers Companies.

4000sq foot house in Smithtown with a pool, deck, and finished basement with a second kitchen...all for $1750/year with 2% hurricane deductible...though that is with a $150 discount with my central monitored security system.
Also I have had no claims ever.
Reply With Quote Quick reply to this message
 
Old 10-29-2017, 07:18 AM
 
Location: Former LI'er Now Rehoboth Beach, DE
13,034 posts, read 17,928,203 times
Reputation: 13968
Regardless of which carrier you select, the rates will go up annually. Five years ago when Sandy hit we had minor damage and did not put it through because the deductible was higher ($1000). I had never had a claim in that home in 17 years, nor in any of the previous dwellings. The following year, the rates went up 15%, and when I called to question it, they blames it on Sandy.

I think in 2018 we are all going to be in for a shock because of the insurance monies paid out due to Irma, Harvey and Maria. Even if they were minimized (from the insurers standpoint) we are all going to pay.
Reply With Quote Quick reply to this message
 
Old 10-30-2017, 11:16 PM
 
38 posts, read 30,083 times
Reputation: 34
Spanky25 said:

Quote:
If you can, bundle it with your auto & any other policy’s, all will be a lot cheaper.
When Allstate dropped my homeowners years ago ( no claims in 20 years since I had them) my auto insurance went up a few hundred per year because I wasn’t getting the “bundled rate”. I’m in the middle of the Island & was considered high risk. Well, I am now with Utica National. About the same rates, but AMAZING customer service. I had 2 auto claims.
Right. I am finding that bundling auto and umbrella with home is giving 25% - 30% reduction in premiums for home insurance. May I ask how much square footage for the house, what Utica is insuring the dwelling for, what the premium is, and what the deductible is?


pidge1114 said:

Quote:
I just had my house insured with the Andovers Companies.

4000sq foot house in Smithtown with a pool, deck, and finished basement with a second kitchen...all for $1750/year with 2% hurricane deductible...though that is with a $150 discount with my central monitored security system.
Also I have had no claims ever.
Which one? Cambridge Mutual Fire Insurance? May I ask, what is the dwelling insured amount, and what is your deductible?


nuts2uiam said:

Quote:
Regardless of which carrier you select, the rates will go up annually. Five years ago when Sandy hit we had minor damage and did not put it through because the deductible was higher ($1000). I had never had a claim in that home in 17 years, nor in any of the previous dwellings. The following year, the rates went up 15%, and when I called to question it, they blames it on Sandy.

I think in 2018 we are all going to be in for a shock because of the insurance monies paid out due to Irma, Harvey and Maria. Even if they were minimized (from the insurers standpoint) we are all going to pay.
I was just thinking if there was some way to find an insurer that had limited exposure in Texas, Florida, and Puerto Rico.

Regarding claims - I am reading some people say that you should be treating home insurance as something that is invoked in catastrophic situations only, with the recommendation that you take the highest deductible you can comfortably handle. In that light, it seems to me that the additional insurance policy provisions are a bunch of hooey. Don't have too many claims in a three year span, or they will drop you. I take this to basically mean any of those other coverages (e.g. furs, jewelry, firearms, spoiled food, locks, etc). should be treated as non-existent. They are written into the policy, can not be dropped to save some money, but remain unused because you invoke a couple of these things and then get dropped as high risk.

At what dollar value would you invoke a claim on your home insurance?
Reply With Quote Quick reply to this message
 
Old 10-31-2017, 04:07 AM
 
105,770 posts, read 107,776,949 times
Reputation: 79395
i would advice everyone to check your CLUE REPORT .

that is the reporting agency for insurance claims .

every claim on your home or car is tracked and reported regardless of fault .if your insurer paid a claim and never recovered it from another company then it burns you when you shop .

my jeep buddies used to think all those windshields they replaced came without a cost .well everyone of them is in their clue report .

so not only are all claims listed but ready for this ? all claims on the property by former owners for chronic problems ,say flooding follow the house .

you may never have had a flood but if an owner did at one time it is a ding on the property .

you can get a free copy of your report once a year . run home and auto ,they are two different reports .



https://personalreports.lexisnexis.c...disclosure.jsp
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:




Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New York > Long Island
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top