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Old 08-19-2014, 12:00 PM
 
Location: NJ
37 posts, read 74,491 times
Reputation: 19

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Wife and I are in mid 40's, live in Marlton (3 BR house worth about 300k). We have two cars (03 Accord and 08 Sonata), no accidents, and no points on licenses. Brother-in-law is insurance agent, so there's pressure within the family to give him the business.

Our annual auto insurance is $2600 and the homeowners insurance is $1000. Nothing out of the ordinary in the policies, standard stuff (at least not that I know of, I admit to being ignorant on how to get the best coverage). I've trusted him to get the best deal, but now wonder if I could do better. I'm thinking the best first approach is to ask him to see if he can get a better deal.

The question is: does $3600 sound crazy? Or does it sound reasonable? Before I stop doing business with the guy I want to be sure I can do better elsewhere. Anyone in a similar situation paying way more or less?

TY
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Old 08-20-2014, 06:46 AM
 
Location: Cherry Hill, NJ
75 posts, read 102,758 times
Reputation: 64
That sounds reasonable to me. My wife and I (clean driving records and good to excellent credit) pay $2,700/yr for two cars (09 Infiniti and 12 Sonata) with full coverage in Haddon Township. A good rule of thumb for homeowner's insurance is $350/yr per $100,000 of house value, so since your home is somewhere in the ballpark of $300K it sounds like your brother-in-law is doing right by you.

Insurance rates can vary widely depending on the provider and individual situation. It rarely hurts to shop around.
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Old 08-21-2014, 01:07 AM
 
Location: Mid-Atlantic
31,222 posts, read 32,186,423 times
Reputation: 40367
That's not bad. What are your deductibles?
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Old 08-22-2014, 07:04 AM
 
Location: Mount Laurel
4,187 posts, read 11,179,822 times
Reputation: 3507
Home insurance is about right but you may want to shop around a bit for auto. I think you auto is a bit high but it depends on your coverage. Full tort adds a few hundred to each policy but try to do a quote with Geico online to see how it compares with yours.


Just to give you an idea. Our policy is about $2300/yr for limited and $3000/yr for full tort
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Old 08-22-2014, 09:02 AM
 
Location: Cherry Hill, NJ
75 posts, read 102,758 times
Reputation: 64
My wife and I have full tort with $1,000 deductibles and $100,000/$300,000 coverage limits. Amica, one of the highest rated insurance companies, is our carrier.
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