- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Insurance Bundle Options
Posted on 8/12/19 at 9:46 am
Posted on 8/12/19 at 9:46 am
Have auto coverage through GEICO. Got a quote for Homeowners that seemed too good to be true, and it appears to be the case.
The dwelling coverage they assigned to my house was less than half the purchase price. Now I know the two don’t necessarily correlate. But the dwelling amount would only allow me $92 / SF to rebuild. Couldn’t do it for that. When I called to question this, they said I have a “25% multiplier” (dwelling coverage multiplied by 25%) , should the amount to rebuild fall short. After lots of back and forth with them and a brief hold, they raised it to a “50% multiplier”. Still, sounds fishy.
All of that being said, who should I shop for a quote on a bundle for Homeowners, Flood, Auto & Term Life?
TIA
The dwelling coverage they assigned to my house was less than half the purchase price. Now I know the two don’t necessarily correlate. But the dwelling amount would only allow me $92 / SF to rebuild. Couldn’t do it for that. When I called to question this, they said I have a “25% multiplier” (dwelling coverage multiplied by 25%) , should the amount to rebuild fall short. After lots of back and forth with them and a brief hold, they raised it to a “50% multiplier”. Still, sounds fishy.
All of that being said, who should I shop for a quote on a bundle for Homeowners, Flood, Auto & Term Life?
TIA
4
Posted on 8/12/19 at 1:15 pm to Kreg Jennings
Most options give you a 25% additional replacement cost for the policy but I would not want to use that endorsement to get it to the actual replacement cost. Sounds like they are cutting corners to get your business and I'd check that they didn't cut other corners too (personal property, other structures etc)
To answer the question. A lot of independent agencies can bundle your Home, and Auto with different carriers and still give a discount. Flood is through FEMA so rates will be the same regardless of who you get it from but you may be able to get it through a carrier who will discount your Home policy. Check around for independent agents in your area.
To answer the question. A lot of independent agencies can bundle your Home, and Auto with different carriers and still give a discount. Flood is through FEMA so rates will be the same regardless of who you get it from but you may be able to get it through a carrier who will discount your Home policy. Check around for independent agents in your area.
This post was edited on 8/12/19 at 1:18 pm
Posted on 8/12/19 at 2:25 pm to Kreg Jennings
Never buy homeowners insurance through Geico. They’re experts at car insurance, not homeowners. They place their homeowners policies with Demotech companies and you never want to rely on a Demotech rated company for your rebuild. They’ll tell you they place your policy with an “A” rated company but that A rating is through Demotech, which is not impressive at all. Essentially those companies must buy insurance on your insurance policy and when you make a claim, they make a claim to pay you. Do you want to go through one claim per claim or two? Because that’s essentially what will happen.
Get auto through Geico.
Get homeowners through ASI/Progressive or any other AM Best rated company that offers a flat dollar amount hurricane deductible and not a %.
Get term life through AIG.
You will thank me later.
Get auto through Geico.
Get homeowners through ASI/Progressive or any other AM Best rated company that offers a flat dollar amount hurricane deductible and not a %.
Get term life through AIG.
You will thank me later.
Posted on 8/12/19 at 2:29 pm to Kreg Jennings
quote:
they said I have a “25% multiplier” (dwelling coverage multiplied by 25%) , should the amount to rebuild fall short.
only in disaster type situations when rebuilding materials and labor always go up. This should not be depended on in a normal condition rebuilding cost per sq ft.
Posted on 8/12/19 at 2:42 pm to Chad504boy
quote:
only in disaster type situations when rebuilding materials and labor always go up. This should not be depended on in a normal condition rebuilding cost per sq ft.
I forgot to address that but yes, this is 100% true. Never depend on that “extra” coverage in normal claim situations unless it results from a disaster where cost of materials and labor increases.
Posted on 8/12/19 at 7:19 pm to TDsngumbo
quote:
I forgot to address that but yes, this is 100% true. Never depend on that “extra” coverage in normal claim situations unless it results from a disaster where cost of materials and labor increases.
Good to know. Definitely shopping it ASAP.
Posted on 8/12/19 at 7:23 pm to TDsngumbo
quote:
Get auto through Geico. Get homeowners through ASI/Progressive or any other AM Best rated company that offers a flat dollar amount hurricane deductible and not a %. Get term life through AIG.
I couldn’t get better overall pricing if I bundle with one carrier?
Posted on 8/13/19 at 6:38 am to TDsngumbo
quote:
Get term life through AIG. You will thank me later.
Won’t be him
Posted on 8/13/19 at 8:53 am to Kreg Jennings
Sometimes yes but it's not always the case. Like TD's said, ASI/Progressive is a great company and if your home is somewhat newer, you should get a great rate and have options for flat deductibles as low as $1000.
Just have someone price out all their options for you. Bundles and other carriers. Make them do their job.
One option to look at if you're able to is paying the Auto in full. Some companies offer big discounts for this.
Just have someone price out all their options for you. Bundles and other carriers. Make them do their job.
One option to look at if you're able to is paying the Auto in full. Some companies offer big discounts for this.
Posted on 8/13/19 at 9:05 am to Kreg Jennings
quote:
I couldn’t get better overall pricing if I bundle with one carrier?
Sometimes you can but Geico can be so cheap that even the best bundles aren’t able to beat it all separated out like I laid out for you. I’ve worked in the industry for going on 10 years now and a Geico/ASI/AIG combo is very, very hard to beat.
Full disclosure: I don’t work for either of those companies. My honest and anonymous opinion is that they are the best price & quality combination.
Posted on 11/3/19 at 7:36 pm to TDsngumbo
This is a bump, but seems like a reasonable place to ask my question.
Im learning that I have zero concept of homeowners insurance /wind and hail insurance and what Im currently paying for or how to shop for it. Right now homeowners is bundled with my wife's auto through allstate that was setup at purchase. Ok, that seems normal, I guess, but then we have wind and hail through some company named GEOVERA. Not entirely sure why or how we ended up here...
Anyway,
-Im having a hard time finding out how the hell to shop for JUST wind/hurricane policies.
-Or shop around for different bundles of all 3 (home/auto/wind)? Is this something I need to get on the phone with every single company individually or is there a better way to go about this?
-Do the big name insurance companies (Allstate) not allow you to add wind coverage to regular homeowners policy? Is this how I ended up somewhere else?
I admit I havent been on the phone with anyone yet, but maybe you guys can help me stream line this process before I begin. thanks
Im learning that I have zero concept of homeowners insurance /wind and hail insurance and what Im currently paying for or how to shop for it. Right now homeowners is bundled with my wife's auto through allstate that was setup at purchase. Ok, that seems normal, I guess, but then we have wind and hail through some company named GEOVERA. Not entirely sure why or how we ended up here...
Anyway,
-Im having a hard time finding out how the hell to shop for JUST wind/hurricane policies.
-Or shop around for different bundles of all 3 (home/auto/wind)? Is this something I need to get on the phone with every single company individually or is there a better way to go about this?
-Do the big name insurance companies (Allstate) not allow you to add wind coverage to regular homeowners policy? Is this how I ended up somewhere else?
I admit I havent been on the phone with anyone yet, but maybe you guys can help me stream line this process before I begin. thanks
Posted on 11/3/19 at 8:56 pm to Kreg Jennings
Questions to ask about homeowner's insurance is the policy a named-peril policy or a an all peril policy? Is the coverage replacement cost or actual cash value on dwelling, contents? Is there a hurricane deductible, does it have a wind and hail exclusion? Some policies are handing roofs different from the rest of the policy, how is the roof handled.
Posted on 11/3/19 at 9:01 pm to rocksteady
quote:
-Do the big name insurance companies (Allstate) not allow you to add wind coverage to regular homeowners policy? Is this how I ended up somewhere else?
It will depend on your zip code. Also, most Allstate policies less than 3-4 years in age handle roof's differently than standard homeowner's policy, know what you have and if you don't know, talk with the agent.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News