How Much Is Too Much For Homeowners Insurance?

I recently got my bill in the mail from Travelers Insurance. I went with them because when I called up Geico to renew my auto insurance, they mentioned they cut a deal with these guys to give me the best deal on homeowners insurance. But did they? I own a fairly new house (it’s a year old) and am slated to pay $1,043.00 for the upcoming year to cover:

My homeowners insurance premium

Also last week I got a quote in the mail from Allstate saying they could cut it for HALF the price with this quote:
Allstate insurance quote

Who is the real deal here? My house is about 2700 sq ft. 2 story, built in Nov 2006, 5 bed, bonus, 2.5 bath, nothing out of the ordinary, in a good area, not in a flood plain, not subject to high winds or fire zones. What do you pay for homeowners insurance? Do you have a better deal? A better recommendation? Certainly I’d like to re-invest that extra $500.00 per year in a better place, but I don’t want to get bent over in regards to payments – ideas? Suggestions?

Filed Under: adviceDebtHouseInsuranceReal EstateUncategorized

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  • Are the limits with Allstate enough to cover your personal property and your house? If they are, then you should get a quote from the first company with the limits Allstate used.

    With #1, you are insured for an extra $200k, it’s looking like. The personal property sections also differ.

    Get an apples-to-apples quote from the first company to see how that stacks up, assuming that’s enough insurance to fit your needs.
    .-= Kacie´s last blog ..Save money on shoes by fixing the ones you have =-.

  • Hey Kacie! I did, and I should have probably updated this post, but long story short, Geico couldn’t cover it with those limits. Allstate came out on top.

  • Sandy

    I’m not sure where you live, but in Oregon Allstate does not offer earthquake insurance. Their rates are substantially lower as a result. You need to make sure you have the coverage you need for the area you live in. When Allstate had a “drop” in price they weren’t saying why…just that their prices had dropped! Thank goodness I looked into it a bit deeper and wasn’t just thrilled with the price savings! I ended up going with State Farm. Which, yes, was more expensive, but if anything happens I will be covered and much happier!