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:
Also last week I got a quote in the mail from Allstate saying they could cut it for HALF the price with this 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: Debt • House • Insurance • Real Estate • Uncategorized • advice
[...] much insurance should I have on my house? Add So in regards to my post How Much Is Too Much I have been back and forth with my possible new insurance agent, and she has offered me an [...]
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.
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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.
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!