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I am buying a home in south Raleigh. Insurance wants information on where fire hydrants are. I believe in the rurals, there are none. Will my homeowners insurance be through the roof because of that? There is a volunteer fire department 1.5 miles from the home. Help!
I'm not an insurance agent but I usually tell my clients to figure between $40 per month to $60 per month for homeowner's insurance.
The larger your home, the more "stuff" you have to insure. My first time homebuyers are buying around $200,000 homes and paying about $45 per month.
My clients moving into the $400,000 homes are paying around $60 per month.
I wouldn't expect yours to be higher than that. Remember, homeowner's insurance covers your personal property as well and some folks have more 'stuff" than others.
Vicki
Thank you for that information. Along with all the "stuff", I'm also thinking about damage to structure due to fire and that insurance companies might increase their premiums in rural areas due to no fire hydrant versus a home in the city where fire hydrant is easily accessible.
Honestly, I have not seen that happen. Not everyone is as close to a fire hydrant nor are they as close to a fire station. And although I know insurance agents ask that question, I have not seen it make a significant difference. Make a call and ask your insurance agent. The difference (if there is one) isn't going to be that big of a deal. I've sold homes in the city and out in the county and based on the settlement statements that I've seen, it makes very little difference.
The fire hydrant will make very little difference in your premium usually. What is more important is how close you are to a fire station. The farther away, the more money you will end up paying. Usually the amount start to go up once you are 5-6 miles away from a fire station.
I've heard stories of hydrants with no water ... Our existing neighborhood has no hydrants but HO insurance is still very reasonable. This might be a risk that certain insurance firms are more comfortable with than others.
So, as usual, shop around.
When we first moved here I asked my then agent about the lack of hydrants ... he said the fire department would respond with a tanker truck in time to put out any smoldering ashes. Still not sure if he was kidding, hope to never find out.
I paid $25/month when I first bought my house in 2008 (2000 sq ft home in NE Raleigh), now it is approach $35/month. Rates everywhere have gone thru the roof, I called around and everyone is more expensive over last year.
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