What state's have cheap house insurance? (years, relationship, trouble, commercial)

[arwenmark]

Originally Posted by saralvr

When did you buy the home? Insurance companies have to pay to replace your home. They've established its current value at 430k, therefore you are charged accordingly.

I bought my house in 2010. for 38K it may now be worth perhaps 45k. The insurance here will only sell replacement cost which they say if 430k. That is rediculous the building costs here are way below that. for 430K I could practically buy the entire street I live on.

[AlaskaErik]

Originally Posted by arwenmark

I bought my house in 2010. for 38K it may now be worth perhaps 45k. The insurance here will only sell replacement cost which they say if 430k. That is rediculous the building costs here are way below that. for 430K I could practically buy the entire street I live on.

Somebody has to subsidize those living in hurricane areas and flood zones.

[tlarnla]

House insurance is probably cheaper in states where houses are cheaper.

[phonelady61]

Originally Posted by tlarnla

House insurance is probably cheaper in states where houses are cheaper.

that is a big misconception ^^^^.....

[movinon]

Roseville, CA, just north of Sacramento. 1400 square feet. Annual homeowner's insurance $564. Replacement value (house only) just over 360K. I'm not in a flood zone, earthquake zone, or fire zone. I do get a discount for having an alarm system and also insuring my vehicle through the same company. I also have no claims, so that provides a discount too.

[wit-nit]

Insurance on homes is generally determined on current replacement cost for that area, land is not included.
In AZ I have a 2000 sq ft home, a 1200 sq ft condo, 3 cars, a boat and a pp policy of $50,000 and my annual insurance bill for all of that is $1200.00
I'm insured with AARP/Hartford.

[OldDocKat]

Originally Posted by wit-nit

Insurance on homes is generally determined on current replacement cost for that area, land is not included.
In AZ I have a 2000 sq ft home, a 1200 sq ft condo, 3 cars, a boat and a pp policy of $50,000 and my annual insurance bill for all of that is $1200.00
I'm insured with AARP/Hartford.

This is about what it is in Alabama

[azsportpilot]

states that have a low incidence of:

Flood
Tornadoes
Hurricanes
Earthquakes
Mudslides
Black Mold (Stachybotrys)
Hailstorms
Lightning

the above items can and frequently do cause a complete loss of the insured structure (or at least the roof "Hail")

places like:

Arizona and Nevada have low homeowners insurance rates as the above tragedies are unlikely

want cheap insurance? think Desert States (excluding California)

[txfriend]

The cost is also based on your deductible, in my part of Texas you will not find any below 1%. For a $400K house the first $4K is on the owner.

[arwenmark]

Originally Posted by AlaskaErik

Somebody has to subsidize those living in hurricane areas and flood zones.

Yes, well my other home is on Cape Cod [Hurricane] and it also costs a lot, plus has a 15000, deductible on hurricane damage.