check out this ins. quote (Carrboro, Wake Forest: renters, insurance, credit)

[prius109]

Ok, i did one of those online homeowners ins. quotes, just to get a general idea of what h/o insurance will cost on a home in our price range in NC. Tell me if this sounds right! Thanks in advance

POLICY COVERAGE AMOUNT PREMIUMS
Personal Property Protection 80,000 196.00
Replacement Cost on Contents
Family Liability (Each Occurrence) 100,000
Medical Payments (Each Person) 1,000
Deductibles Applicable
500
TOTAL PROPERTY ANNUAL PREMIUM 196.00

[MikeJaquish]

Seems TOO cheap to me, prius.
FWIW, personal property coverage is mentioned, but nothing mentions the structure of the home.

[VickiR]

I'll agree with Mike on this one...seems too cheap to me too.

I see they say "replacement value" which is very important but I dont' an amount.

My first time homebuyers (who have few personal possessions) typically buy about $150,000 home, pay about $40 to $45 per month.

My homebuyers that buy in the $300,000 range pay about $50 to $70 per month.

My clients that buy more in the $400,000 to $800,000 range pay anywhere from $65 to $95 per month.

I'm not an insurance agent but I base this upon what my clients tell me and what is on their settlement statements. If I feel they are being undercharged or over charged...well, y'all know what I do...I tell them! After all, they are MY CLIENTS and I do what is best for them! Even if most of y'all get tired of my two cents' worth!!!

Hope that helps...Vicki

[MikeJaquish]

Prius,
Another consideration is whether you being insured by a company that actually pays claims.
If you get hooked up with a company that has no cash for claims, you have a real problem if you get into catastrophic loss. And catastrophic loss is really the reason to buy Homeowner's insurance. It isn't a maintenance program for plumbing or roof leaks, and other nickel/dime stuff.

[prius109]

Originally Posted by MikeJaquish

Prius,
Another consideration is whether you being insured by a company that actually pays claims.
If you get hooked up with a company that has no cash for claims, you have a real problem if you get into catastrophic loss. And catastrophic loss is really the reason to buy Homeowner's insurance. It isn't a maintenance program for plumbing or roof leaks, and other nickel/dime stuff.

I completely agree, i am with state farm now, and LOVE them, they have been so wonderful to have insurance thru, we do as much business thru them as we can. BUT, they dont just give out random quotes over the net, and me being the lazy guy that i am i just filled out the app for a quote over the net. I re-emailed the guy about the price, and he thought i was looking for renters ins. He emailed this back (its for a home in wake forest, about 126k) This seems better, BUT STILL CHEAP compared to FL anyway

Here is a homeowner quote based on the property in Wake Forest.. You can also qualify for a 10% discount ($452/year) with a multi policy credit if you insure your cars also with allstate..


NC ALSTAR PROPOSAL SUMMARY 02/10/2007
HOMEOWNERS INDEMNITY
POLICY COVERAGE AMOUNT PREMIUMS
Dwelling 126,645 501.00
Other Structures Protection 12,664
Replacement or Repair Cost Protection
Personal Property Protection 88,652
Loss of Use 25,329
Replacement Cost on Contents
Family Liability (Each Occurrence) 100,000
Medical Payments (Each Person) 1,000
Deductibles Applicable
500
TOTAL PROPERTY ANNUAL PREMIUM 501.00

[VickiR]

Thanks for sharing that info, Prius.

Again...you see that a home that costs approx. $126,000 has homeowner's insurance to the tune of $452 per year (with cars) and $501 (if your cars are insured with someone else). So...thats between $38 per month and $42 per month. That would make my clients AND me happy! Vicki

[raccemup]

I have as much insurance as I can possibly have on my house. It was 150K and I pay $35 a month.

[prius109]

Wow thats a great price!

[alice_61]

I received a quote from Allstate in Carrboro for a house of similar value and the premium was quite close to this one. It had $300K of liability insurance, though.