Does your Homeowners insurance seem high? (Gilbert: rental, how much, house)

[khuntrevor]

Then it probably is. After going bare for 6 months, I was finally contacted by an agent in California, who has an office in Gilbert. All of a sudden, instead of a 460 Dollar premium with a 1000 Dollar deductible, I was offered a 336 per year, with a 500 deductible. A very highly rated company, also. Too many of these types of companies are not appreciative of their customers and rely on people simply renewing and writing a check. We are in a relatively low risk area--there are no earthquakes, floods, or hurricanes here--there is no reason to get cheated.

[Border Scot]

Just signed up for mine. $409 with a $1k deductible through State Farm. I don't know if this is high or low as I've not owned a home for over 15 years but, anyway, here it is for reference. My Realtor said she thought this was a bit lower than most and a good deal.

[khuntrevor]

That's decent, Scot. Different State Farm Agents give different quotes, as does Farmer's. I fired my last State Farm Agent for taking 4 business days to respond to an Email. They all seem to be pushing a 1000 Dollar deductible now. I felt lucky to get a 500. My new State Farm Agent with my rental property said they will only write 1000 deductibles on new customers.

[rodgwag]

Be careful about buying homeowners insurance based on price alone. If you save $60 but have less coverage or lose some other sub-limit that you are unaware of, it may cost you thousands more down the line. I have seen too many homeowners get the shaft at claim time because they saved $60. In a room full of insurance agents you would hear plenty of laughter when discussing certain insurance companies that are sold to price only conscious clients all the time. Insurance agents only have about 10 insurance companies that they trust and will buy for themselves. Find out who they have, discuss the best coverage for your situation and THEN work on the price. PS Get the $1000 deductible every time. It is the best thing to do. Tell your insurance agent to stop ordering you to take it and explain why it is the best thing for you.

[musicforme]

What is your estimated cost to replace your house if it were destroyed?

I'm paying around $800 a year on a house with a replacement cost of $400k. I also have a rider on my insurance that I'd be covered if a pipe broke and flooded my house. My laundry room is upstairs and was concerned I about flooding if something broke at some point in the future.

[LBTRS]

My homeowners is fine it's my Auto Insurance that is out of control. USAA wants $2500/six months to cover three vehicles with no claims or violations.

[rodgwag]

Originally Posted by LBTRS

My homeowners is fine it's my Auto Insurance that is out of control. USAA wants $2500/six months to cover three vehicles with no claims or violations.

This price could be seen as very expensive or very reasonable depending upon the actual details surrounding the risk. My questions as your agent would be in line with the questions below.

1. How many drivers?
2. Age of the youngest driver?
3. Year, make and model of the cars?
4. How much coverage is needed for Liability, under and uninsured motorist, chosen comprehensive deductible, collision deductible, etc.?