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Started By
Message
re: Homeowners insurance - Which quote would you choose?
Posted on 1/14/15 at 9:53 pm to TigerTatorTots
Posted on 1/14/15 at 9:53 pm to TigerTatorTots
0
Posted on 1/14/15 at 10:03 pm to TigerTatorTots
I'd go with the ASI quote. Your home is probably your largest investment you'll ever have, why insure it with some unrated takeout company?
ASI has a decent policy. If price is your main concern ask for quotes with $2500 deductibles. $886 is not a rate adequate rate for a $300k house on the Northshore. It'll either jump way up at renewal or they won't be in LA long.
ASI has a decent policy. If price is your main concern ask for quotes with $2500 deductibles. $886 is not a rate adequate rate for a $300k house on the Northshore. It'll either jump way up at renewal or they won't be in LA long.
Posted on 1/14/15 at 10:47 pm to Slickback
quote:
Slickback
quote:
why insure it with some unrated takeout company?
Pay zero attention to this post. Absolutely retarded statement
Federated is an admitted carrier and thus you are protected by the guarantee fund
LINK
The rates certainly may change, but it ain't like ASI is guaranteeing you a future rate either. Both options are fine
Posted on 2/18/15 at 10:01 am to Mr.Perfect
Have the same question about Federated National and ASI.
Currently with ASI but was quoted about $2,800 less with Federated National than my ASI renewal. I was told FN is not AM Best rated but I know they are admitted. What are the cons of going with Federated National? Seems like a no-brainer for this amount of yearly savings.
Currently with ASI but was quoted about $2,800 less with Federated National than my ASI renewal. I was told FN is not AM Best rated but I know they are admitted. What are the cons of going with Federated National? Seems like a no-brainer for this amount of yearly savings.
Posted on 2/18/15 at 10:06 am to mt1
Fed National is a huge company, no worries bout them. They can be picky on inspections though so be prepared about that.
Love the guy on page 1 suggesting the wind buy down.... he should also buy a unicorn too.
Love the guy on page 1 suggesting the wind buy down.... he should also buy a unicorn too.
Posted on 2/18/15 at 10:26 am to Chad504boy
Thanks. Anything specific about the inspection to worry about?
Posted on 2/18/15 at 11:45 am to mt1
Trees on or around house
Handrails
Mildew
Shitty house
Neighboring properties abandoned
Type of plumbing
Condition of roof
To name a few
Handrails
Mildew
Shitty house
Neighboring properties abandoned
Type of plumbing
Condition of roof
To name a few
Posted on 2/18/15 at 5:52 pm to TigerTatorTots
I posted this previously. Hope it helps.
This is a great question. I speak as a person who lost my home to fire in 2007. I had State Farm ins. They increased coverage each year based on their figures. If you go with their figures, you get a built in 20%increase in your coverage if needed. So for example
House and lot are worth 300k
They say you need 250k coverage (lot and slab will not burn)
In the event of a loss you would have dwelling coverage of 300k.
I can attest, it costs a lot more to tear down your house and rebuild than new construction costs. The difference in premium to get that much more coverage is minimal.
If you have a different provider, check with them and see if they also have a benefit if you use their assessment for coverage.
This is a great question. I speak as a person who lost my home to fire in 2007. I had State Farm ins. They increased coverage each year based on their figures. If you go with their figures, you get a built in 20%increase in your coverage if needed. So for example
House and lot are worth 300k
They say you need 250k coverage (lot and slab will not burn)
In the event of a loss you would have dwelling coverage of 300k.
I can attest, it costs a lot more to tear down your house and rebuild than new construction costs. The difference in premium to get that much more coverage is minimal.
If you have a different provider, check with them and see if they also have a benefit if you use their assessment for coverage.
Posted on 2/18/15 at 7:10 pm to nogoodjr
That coverage is an endorsement, nothing to do w going w their figures
Posted on 2/18/15 at 7:13 pm to nogoodjr
$300K in personal liability? I'm thinking your net worth is more than this. Just because your liability is exhausted in the event of a claim doesn't necessarily mean your obligation (sometimes court ordered) is over.
Liability is usually inexpensive. Raise this amount as high as you can.
Liability is usually inexpensive. Raise this amount as high as you can.
Posted on 2/18/15 at 7:21 pm to Iowa Golfer
You can purchase an umbrella to go over 300k liability, usually it's not offered more than 500k anyways
Posted on 2/18/15 at 8:17 pm to Chad504boy
I have a million dollar umbrella on my residence. I'm in another state though.
The right Independent Agent can get you most anything you want as to an Umbrella.
EDIT: I have $1,000,000 on my auto policies as well.
The right Independent Agent can get you most anything you want as to an Umbrella.
EDIT: I have $1,000,000 on my auto policies as well.
This post was edited on 2/18/15 at 8:19 pm
Posted on 2/18/15 at 8:43 pm to nogoodjr
quote:
(lot and slab will not burn)
Foundation can get destoyed in a fire
Posted on 2/19/15 at 7:49 am to soccerfüt
The best thing about a cheap umbrella policy is the insurance company is using their lawyers to protect you...
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