Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
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Insurance for $362,000, plus $300,000 liability, plus medical payments, plus replacement cost, plus 20% surplus construction option cost us $331 through Travelers. We went through CTX insurance agency and they picked Travelers for us. This is much much cheaper than back in MA. State Farm was always much higher on insurance for me, so I dumped them.
Our homeowners is similarly low, we have replacement coverage, and we, too, went through CTX insurance. In fact, when AAA Michigan said they were dropping our homeowners insurance in Michigan (because we ended up renting out our house because we couldn't SELL it), the CTX insurance agent wrote us a policy for that house as well.
Our premium here is definitely lower than our premium in Michigan, and we have a larger house here. However, we do benefit from new construction discounts.
Liberty Mutual will come to your place of work and give a presentation. Anyone who then signs up gets a coporporate discount. We combined our house and car and saved nearly $1,000.00. We were with State Farm before....
Hmmmm looks like it's time to get some new quotes for my house and car insurance!
As a former Nationwide employee who as a product manager worked on rating here in NC, here are the key things that impact your premiums:
* Age of Home (New Construction Discounts are Huge!)
* Fire Class (Proximity to Fire Department)
* Credit Rating (Not necessarily your credit score, even though that is a factor in the models)
* Siding (Masonry, Hardiplank get a discount)
* Deductible choice
I can't stress enough that on homeowners, you should really have a min deductible of $1,000. A) You don't want a claim on your home if you can help it, due to it staying on the CLUE report, which transfers to the next buyer of your home, and homeowner claims are viewed negatively by other carriers. Its a lot different than auto, you don't have the pricing power and therefore many companies will just not extend coverage to you period if you have had a prior homeowner claim.
I'm moving into a new construction next week. Replacement coverage on 425k w/ all the standards re: liability, med., etc... with Travellers is $765/yr. We do not have any other insurance with them. Home has hardiplank, moderate deductible, and we have an excellent credit rating. We are also repeat customers with Travellers.
We pay nationwide about 1000k annually with a 1500 deductable on a 600k house. I also have a 3 million dollar umbrella policy that protects me against lawsiuts etc that cost $270 annually. Your CLUE score affects your rates. It is unwise to call the home office of your insurance company as this lowers your score. Call your local agent. I would never consider filing a claim for less than 5k. Your CLUE score factors in your credit score and the history of claims in the house that is insured. Most people are clueless about CLUE.
Our insurance on our townhome is through MetLife - dwelling 320K, interior 100K for around $600 a year. House is 2 years old.
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