Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
When is the last time that you have hit the pavement and actually sought quotes from several carriers in an effort to reduce the cost? There are perhaps 30 carriers who underwrite business in that state.
I've been out shopping for cheaper insurance and so far have not found any yet. Went too five so far. Still looking.
I can live in a 33 ft. 2010 Keystone 5th wheel camper for 300.00 a year that is full coverage.
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.
This. It's less about what the home's value is and more about its replacement value. Then add in risk factors. The obvious ones are things like hurricanes and tornadoes, but lesser ones include living in a rural area with only a volunteer FD that's 3 or 4 miles away and no water lines (ie, hydrants) at the street.
In MA and in WV my house insurance ran/runs 1600 a year. House on Cape cod is 700 sq ft. House in WV is about 2500, three story brick. trouble is insurance companies will only insure for what THEY determine is FULL REPLACEMENT COST. Well I bought the WV house for 36K and they insist on insuring it for 430k.
Cape Cod is tough. I'm in coastal Massachusetts with the same problem. An awful lot of people are pushed to the expensive state-run Massachusetts Property Insurance Underwriters Association. It's not great insurance and it's not great service. I fortunately have a 20+ year relationship with my insurance company with homes, cars, boats, and an umbrella policy with them. I'm not getting gouged $1,600 but it's still really expensive. I have enough of a wind damage exclusion that if a tree falls on the house, I'm paying for the repair out of pocket.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,874 posts, read 81,907,203 times
Reputation: 58338
I'm paying about $1,900 for a 3,000 sf home worth about $700k here in the Seattle area, and that includes earthquake coverage. The cost is tied to the the cost per square foot for construction and the frequency of natural disasters as well as emergency services distance. We bought here in 1993, and it has doubled since, but I still consider it reasonable.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,858 posts, read 58,487,579 times
Reputation: 46420
Yes, states with high risk and claims get hammered. Even tho my TX properties are in a very low risk area, they are 2x my WA rates. Insurance companies compile and run the stats daily. State insurance commissions set the allowable rates. (Afair)
Always get plenty of quotes annually, I get served extremely well by 'Farm Bureau' / CountryCompanies YMMV
The insurance companies will also run a CLUE report to send how many claims hav been filed in the past which affects the quoted rate. 6 ways to avoid home insurance snafus
I've been out shopping for cheaper insurance and so far have not found any yet. Went too five so far. Still looking.
I can live in a 33 ft. 2010 Keystone 5th wheel camper for 300.00 a year that is full coverage.
Have you been to a local INDEPENDENT agent? Those agencies generally represent 8-10 different insurance companies and write business for some of the smaller, more conservative companies that are NOT spending MEGABUCKS on cutesy commercials that are on TV every hour.
Have you been to a local INDEPENDENT agent? Those agencies generally represent 8-10 different insurance companies and write business for some of the smaller, more conservative companies that are NOT spending MEGABUCKS on cutesy commercials that are on TV every hour.
The insurance companies will also run a CLUE report to send how many claims hav been filed in the past which affects the quoted rate. 6 ways to avoid home insurance snafus
I was with my company for over 30 years now and never filed a claim.
I was with my company for over 30 years now and never filed a claim.
Same here, 30 years and no claims. I'm waiting for the other shoe to drop, or in my case some really big trees.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
