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Started By
Message
re: Home Owner’s Insurance - Swyfft? See quote
Posted on 12/3/24 at 4:45 pm to Hou_Lawyer
Posted on 12/3/24 at 4:45 pm to Hou_Lawyer
What’s your square footage?
1
Posted on 12/3/24 at 7:04 pm to Hou_Lawyer
quote:
Hou_Lawyer
Do you see "roofing materials payment schedule"... what that typically means is they don't pay full replacement value on roof. They "depreciate" it on a schedule. So with a % deductible and a payment schedule... don't expect any roof coverage unless you have other damage. This looks like a watered down policy.
I assume you are in Houston.... tough market for home rates.
Posted on 12/3/24 at 7:11 pm to DukeSilver
quote:
What’s your square footage?
3450
Posted on 12/3/24 at 7:12 pm to PennyPacker
quote:
Do you see "roofing materials payment schedule"... what that typically means is they don't pay full replacement value on roof. They "depreciate" it on a schedule. So with a % deductible and a payment schedule... don't expect any roof coverage unless you have other damage. This looks like a watered down policy. I assume you are in Houston.... tough market for home rates.
I’m in Houston. Yes- was told all the insurers are doing the roofing payment schedule.
I’ve had two independent brokers at different agencies looking and these are the best deals. Market sucks.
Posted on 12/3/24 at 7:37 pm to Hou_Lawyer
There is no way a 3450 sq ft house can be rebuilt to new for under $600k. I knew something had to be wrong when I saw those numbers. It would cost you at least $200 per sq ft to rebuild your current house. Rebuild prices are typically higher than starting from scratch due to the demo involved.
Posted on 12/3/24 at 9:38 pm to Hou_Lawyer
quote:
Yes- was told all the insurers are doing the roofing payment schedule
They are wrong... I might be able to help you. If you have an email address I can reach out if you are interested.
Posted on 12/3/24 at 9:41 pm to Civildawg
quote:
There is no way a 3450 sq ft house can be rebuilt to new for under $600k. I knew something had to be wrong when I saw those numbers. It would cost you at least $200 per sq ft to rebuild your current house. Rebuild prices are typically higher than starting from scratch due to the demo involved.
This guy is correct... in the Houston market, $200 is a more probable starting point.
Posted on 12/3/24 at 10:11 pm to Hou_Lawyer
Is your personal property really worth $300k? Even if so, why don’t you self insure most of it. The carrier will make you prove value before they pay a claim.
I don’t get why people don’t understand that the land underneath your house is a big contributor to home value. And land isn’t insurable.
I don’t get why people don’t understand that the land underneath your house is a big contributor to home value. And land isn’t insurable.
Posted on 12/4/24 at 5:39 am to BigBinBR
PURE is pulling back on HomeOwners in LA.
Posted on 12/4/24 at 8:18 am to JackandWater
quote:
PURE is pulling back on HomeOwners in LA.
That's unfortunate. They are a great company to deal with.
Posted on 12/4/24 at 10:16 am to Hou_Lawyer
quote:
3450
Agree with others, you need at least $600,000 but really more.
If a house that size is worth $950,000 like you say, then its probably not builders grade and is probably in a nice area, which would put it at easily more than $600,000 to rebuild in todays market.
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