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 Message Boards » » Homeowner's insurance Page [1]  
hgtran
All American
9855 Posts
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Who do you guys have for homeowner's insurance? I'm thinking about switching mine, due to cost ($3k/year).

1/27/2011 10:25:07 AM

qntmfred
retired
40340 Posts
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http://www.erieinsurance.com/

what kind of coverage do you have?? my policy is $419/year

[Edited on January 27, 2011 at 10:28 AM. Reason : .]

1/27/2011 10:26:14 AM

MrLuvaLuva85
All American
4265 Posts
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nationwide is on my side

1/27/2011 10:26:22 AM

quagmire02
All American
44225 Posts
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traveler's

1/27/2011 10:27:00 AM

jakis
Suspended
1415 Posts
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amica

1/27/2011 10:53:28 AM

hgtran
All American
9855 Posts
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what is the best way to shop for homeowner's insurance? calling up each company and ask for a quote?

1/27/2011 10:54:04 AM

wlb420
All American
9053 Posts
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farm bureau for auto and home...I've had several other places compare and they said they can't touch my combined rates

1/27/2011 11:38:32 AM

YOMAMA
Suspended
6218 Posts
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Quote :
"what kind of coverage do you have?? my policy is $419/year"


I was thinking the same thing. Is your house filled with priceless valuables?

Hell - I have a house, two cars, umbrella and life for almost 1/2 of that.

1/27/2011 11:42:48 AM

hgtran
All American
9855 Posts
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my house is water-front, so that's why it cost so much to insure.

1/27/2011 11:49:36 AM

qntmfred
retired
40340 Posts
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lake or ocean?

1/27/2011 11:53:10 AM

hgtran
All American
9855 Posts
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ocean

1/27/2011 11:53:29 AM

YOMAMA
Suspended
6218 Posts
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Atlantic or Pacific?

1/27/2011 11:55:04 AM

hgtran
All American
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Gulf of Mexico, so I guess Atlantic

1/27/2011 11:58:35 AM

CarZin
patent pending
10527 Posts
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I did a LOT of research when I switched from State Farm due to rate hikes. AMICA insurance is at THE TOP of every independent review/website there is for homeowners and auto.

They may not insure in your area. They are very picky underwriters. You cant have a trampoline, have to state that guns are locked unloaded, etc. I had to answer 4x more questions. But this is to protect current holders of policies from getting unwanted risk to the pool.

1/27/2011 1:11:28 PM

1337 b4k4
All American
10033 Posts
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Don't have home owners, but renters and car with Amica. Can't speak for their claim handling as I've never had to use it, but their customer service has been phenomenal and their rates were by far the best when I was shopping for car insurance

1/27/2011 1:56:16 PM

skyfallen
All American
944 Posts
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i has liberty mutual......haven't had to use them, but their rate isn't that bad...

1/27/2011 7:19:47 PM

Huarache
All American
710 Posts
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Also have Amica. I shop around a bit every couple of years just to see, but the prices/ coverage/ customer service is really tough to beat.

1/27/2011 7:43:14 PM

Chance
Suspended
4725 Posts
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3k is probably right for the wind coverage. I know I got sticker shock when our total insurance cost went from the $450 it was in cary to the 2.8k it is here.

1/27/2011 7:54:56 PM

NCSUWolfy
All American
12966 Posts
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metlife $200/yr thanks to a group rate through my employer

its also cheaper because i don't have to insure the outside structure bc i live in a townhouse but it is classified as a "condo"

1/27/2011 8:02:04 PM

Specter
All American
6575 Posts
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does the amica coverage include your personal belongings with you while you are outside the home? (like taking valuables with you on a trip?)

1/28/2011 1:10:05 AM

BIGcementpon
Status Name
11318 Posts
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NC Farm Bureau

1/28/2011 1:17:26 AM

prep-e
All American
4843 Posts
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I've been in the insurance business for about 3 years. Just stay away from all the big name insurance companies (Nationwide, StateFarm, Allstate etc) except maybe Farm Bureau. I would recommend going to an independent agency in your area and get them to shop it out for you. Most of them represent 10+ different companies.

1/28/2011 11:56:12 AM

CarZin
patent pending
10527 Posts
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"does the amica coverage include your personal belongings with you while you are outside the home? (like taking valuables with you on a trip?)"

I dont know, but I will find out if I can find my coverages book. One SUPER nice thing about AMICA that I never had with State Farm... They sent me full policy coverage booklets telling me everything they would and would not cover. I read it cover to cover. Pretty big, but very appreciated.

1/28/2011 2:10:43 PM

Str8BacardiL
************
41733 Posts
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farm bureau for auto and home...I've had several other places compare and they said they can't touch my combined rates

1/30/2011 7:13:20 AM

markgoal
All American
15996 Posts
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Your rate will vary heavily with the value of your home and the area. Even in Raleigh if someone is quoting their insurance for a $175K home <1 mile from a fire station versus $250k home 3-4 miles from a fire station there will be a difference.

1/30/2011 12:27:29 PM

LastInACC
All American
1843 Posts
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Bump. I need help on couple questions for real estate/home insurance folks.

Are home insurance premium for properties for rent different than home insurance for the house you live in. To clarify if I have two houses...1 I live and 1 I let rent, do insurance company charge the two premium differently?

[Edited on August 18, 2014 at 12:52 AM. Reason : .]

[Edited on August 18, 2014 at 12:52 AM. Reason : ..]

8/18/2014 12:51:44 AM

Str8BacardiL
************
41733 Posts
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DO NOT USE FARM BUREAU

8/18/2014 1:14:17 AM

Alfgard
Veteran
428 Posts
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the one you rent will be an investment property. These typical carry higher rates. I guess it stems from the thinking renters will not take extra care of something they don't own.

8/18/2014 2:36:11 AM

CarZin
patent pending
10527 Posts
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I have several homes, and when State Farm, about 5 years ago, decided to jack up all my rates by about 30%, I switched. I did a lot of research on the 'best' insurance company, and ended up with Amica. They have very strict underwriting policies, and are not easy to be insured by compared to the others, but have very good rates. I am in the process of making my first claim, ever, so I'll let you know how the claims process works.

8/18/2014 9:40:30 AM

LastInACC
All American
1843 Posts
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I "have" a home with fair market value of $277K with a premium of $1600/year. Is that normal? Be nice I'm new at this.

8/18/2014 10:59:15 AM

David0603
All American
12759 Posts
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Jesus. Mine's less than half that for a value of ~200K.

[Edited on August 18, 2014 at 11:12 AM. Reason : ]

8/18/2014 11:12:12 AM

CarZin
patent pending
10527 Posts
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last... That is sky high.

Unless you are in some area of unusually high risk, I would seriously shop around for other coverage.

8/18/2014 12:28:51 PM

LastInACC
All American
1843 Posts
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Yup. talked to some people at work that they said the same thing.

8/18/2014 12:30:10 PM

CarZin
patent pending
10527 Posts
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You can easily switch, and you'll get a prorated check back. I'd start shopping around. You'll want to overlap your coverage by a day. If you escrow, you'll want to mail the refunded premium back to your mortgage company so you don't have an escrow adjustment on the following year.

8/18/2014 12:45:44 PM

quagmire02
All American
44225 Posts
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traveler's dumped me (or, rather, didn't renew) after the tornadoes and a claim a few months after i posted

moved to amica and they've been fantastic...lower rate, lower deductible, more coverage...we had to put in a claim over a rusted-out water pipe that ruined our bathroom and they were easy to deal with

8/18/2014 1:14:27 PM

NCSUMEB
All American
2530 Posts
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Any of yall have condos with HOA for outside and pay for an HO-6 policy for the inside and if so, any recommendations for coverage...?

8/18/2014 3:47:31 PM

wolfpack0122
All American
3129 Posts
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I rent my house so I don't have any experience from the home owner's side, but I do work with a restoration company that fixes houses after you make a claim due to water damage, fire damage, tree on house, etc.

Some of the best ones to work for from my side have been Amica, USAA, and NC Farm Bureau.

Ones that we dread working for include Travelers, Allstate, and Nationwide.

Most are somewhere in the middle

8/18/2014 4:19:03 PM

The Coz
Tempus Fugitive
24252 Posts
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Given that I haven't ever really shopped around, this thread at least makes me feel better about having home and auto through Amica, which I ended up with mainly because of parental recommendation.

8/18/2014 8:09:37 PM

David0603
All American
12759 Posts
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What are you guys paying for amica?

8/18/2014 8:11:53 PM

CarZin
patent pending
10527 Posts
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$729 for my main home.

8/18/2014 9:29:25 PM

Master_Yoda
All American
3626 Posts
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wolfpack0122

How so on the worst? Im with Nationwide and mixed on the claims process (with auto). Havnt had to do home yet.

8/18/2014 10:26:48 PM

Førte
All American
23525 Posts
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Quote :
"Any of yall have condos with HOA for outside and pay for an HO-6 policy for the inside and if so, any recommendations for coverage...?"


yeah, I do. I have Nationwide and I pay $300/year for mine. had to file a claim a few years ago when a laptop got stolen out of the trunk of my car, was no problem. I live a block from the Ashley River, so my rate might be higher than a comparable one that isn't in a flood area.

8/18/2014 10:51:15 PM

wolfpack0122
All American
3129 Posts
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^^ They are quite strict on what they allow on their estimates. They essentially believe that the estimating software they use (and most insurances use) is perfect and won't allow for additional "extras" that we usually try to throw in to help both us and the homeowner out. Just for an example off the top of my head, we had to replace a section of subfloor on a job and in addition to the line item of replacing the subfloor, we usually add in extra labor hours for adding additional blocking etc. And tried to get extra hours because the subfloor was nailed, screwed, and glued down so it took longer to demo. But they believe that the $/ft price of the estimating software pretty much covers all cases.

They are also extremely strict on how fast we have to react to a claim and how often we have to update them. Which is good for the homeowner, but creates a very heavy burden on the contractor. A lot of contractors refuse to do Nationwide work because of this.

And it could be a coincidence as I've only had a few large Nationwide jobs, but each one I've had, Nationwide dropped the homeowner afterwards.

8/19/2014 6:07:08 AM

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