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Started By
Message
What would you do between these Home Insurance options?
Posted on 7/30/26 at 11:26 am
Posted on 7/30/26 at 11:26 am
Currently have a grandfathered plan through National General but possibly considering changing policies. Home is in Ascension.
Current Coverage:
Dwelling @ 479,258
Other structures @ 47,926
Personal Property @ 191,704
Loss of Use @ 95,857
Deductible of $1k
Wind and Hail Deductible is at $1k as well
Cost is $3420 per year.
Optional Plan:
Deductible of 1% of home value for same exact coverage.
Cost is $2627 per year.
I've been fortunate to have never had to file a claim since having the policy (or ever actually) but obviously it keeps going up every year and I'm sure it'll probably go up every year as well. I know that $1k deductibles are probably pretty unheard of but the $4700 also wouldn't be a hard blow "if" we needed to file. Obviously we are only talking $800 a year savings but does it make more financial sense to just keep what we have?
Current Coverage:
Dwelling @ 479,258
Other structures @ 47,926
Personal Property @ 191,704
Loss of Use @ 95,857
Deductible of $1k
Wind and Hail Deductible is at $1k as well
Cost is $3420 per year.
Optional Plan:
Deductible of 1% of home value for same exact coverage.
Cost is $2627 per year.
I've been fortunate to have never had to file a claim since having the policy (or ever actually) but obviously it keeps going up every year and I'm sure it'll probably go up every year as well. I know that $1k deductibles are probably pretty unheard of but the $4700 also wouldn't be a hard blow "if" we needed to file. Obviously we are only talking $800 a year savings but does it make more financial sense to just keep what we have?
8
Posted on 7/30/26 at 11:35 am to JOHNN
Making claims or not, it’s going to go up. I say shop around every year. Deductible amount is up to you and how much you are comfortable having to pony up with no notice.
Posted on 7/30/26 at 11:50 am to Jdiggy
quote:
Making claims or not, it’s going to go up. I say shop around every year. Deductible amount is up to you and how much you are comfortable having to pony up with no notice.
So then with only saving 800/yr, its essentially better to just keep at the 1k deductible.
Posted on 7/30/26 at 12:05 pm to JOHNN
Both are way less than I pay for about the same coverage amount and 3% wind and hail…. shite I need to shop around this year
Posted on 7/30/26 at 12:36 pm to JOHNN
It's a $67/month difference on what I would assume to be a $2k+/month house note. I'd stick with the $1k deductible as well..
Posted on 7/30/26 at 1:54 pm to JOHNN
quote:
but possibly considering changing policies.
please define this. changing deductible with NG or switching companies with a whole new policy?
Posted on 7/30/26 at 1:57 pm to LSUSports247
quote:
shite I need to shop around this year
don't get caught up in the drama of what other people post what they pay. people are always comparing bananas to apples.
Posted on 7/30/26 at 3:33 pm to LSUSports247
So, true story, I shopped insurance on my primary residence this year and on two rentals and changed everything, my agent tells me the insurance companies have had a few good years and there is quite a bit of better options than there were a few years ago
Posted on 7/30/26 at 3:36 pm to Chad504boy
quote:
please define this. changing deductible with NG or switching companies with a whole new policy?
The broker mentioned that it would be a different company.
Posted on 7/30/26 at 3:45 pm to JOHNN
quote:
The broker mentioned that it would be a different company.
So what's the financial status of new company. IMO, its likely a "downgrade" of a financial status of the company. So, keep these things in mind. It ain't just a same policy coverage type situation.
Posted on 7/30/26 at 3:56 pm to Chad504boy
Right now I think itll make more sense to just stay with what we have.
Posted on 7/30/26 at 4:35 pm to JOHNN
Increase your deductible and your premiums should go down. If you have an emergency fund, that’s what it’s for…to cover things like deductibles. Your deductible should be closer to 2-3%.
Posted on 7/30/26 at 5:03 pm to JOHNN
I had to make a similar decision last year at renewal. took the 1% deductable option
with your two options, you go from a $1k to a $4792 deductible, difference of $3792
you save $793/year. no claim for 5 years and you and you come out ahead.
my payback was on year 3 but by dwelling was $375k-ish
with your two options, you go from a $1k to a $4792 deductible, difference of $3792
you save $793/year. no claim for 5 years and you and you come out ahead.
my payback was on year 3 but by dwelling was $375k-ish
Posted on 7/30/26 at 6:16 pm to TX_Tiger23
Thats exactly what the second option was. We were considering increasing the deductible so premium would go down but it only went down 800 bucks. We'll just keep it there for now and shop it again earlier next year.
Posted on 7/30/26 at 6:21 pm to TX_Tiger23
quote:
Your deductible should be closer to 2-3%.
No reason it should be given options
Posted on 7/30/26 at 8:15 pm to Chad504boy
My point is request a higher deductible and the premium will be even lower.
Posted on 7/30/26 at 8:17 pm to JOHNN
Makes sense. In the end it’s what works best for you.
Posted on 7/30/26 at 9:42 pm to JOHNN
I have a sister that lives in Prairieville and she said the most difficult thing is finding a reputable roof company, she had to fire 2 bad companies to get the 3rd one that did good work.
I live in Santa Fe and we sold our first house on the NW side of town after 2 years when insurance companies started dropping coverage in SF after the CA fire, State Farm was going to drop us. Moved across town over to the SE area to a community with 18 houses with very large plots. Had to use a broker that went through 7 insurers to find one that would insure a 3100 sq foot 29 yr old home but only at $725k with Travelers which is about half of what it would take to rebuild the entire house.
Our broker was able to get our 3/1/2026 renewal with Travelers increased to $1M dwelling + $100k on other structures etc. We have a $10k deductible with $4,266.00 premium. Fingers crossed to 3/1/2027. It's funny how insurers keep sending 6-month vehicle coverage quotes with zero interest in HO policies.
I live in Santa Fe and we sold our first house on the NW side of town after 2 years when insurance companies started dropping coverage in SF after the CA fire, State Farm was going to drop us. Moved across town over to the SE area to a community with 18 houses with very large plots. Had to use a broker that went through 7 insurers to find one that would insure a 3100 sq foot 29 yr old home but only at $725k with Travelers which is about half of what it would take to rebuild the entire house.
Our broker was able to get our 3/1/2026 renewal with Travelers increased to $1M dwelling + $100k on other structures etc. We have a $10k deductible with $4,266.00 premium. Fingers crossed to 3/1/2027. It's funny how insurers keep sending 6-month vehicle coverage quotes with zero interest in HO policies.
Posted on 7/30/26 at 10:00 pm to JOHNN
Self insure and buy a used tundra
Posted on 7/30/26 at 11:05 pm to JOHNN
I just changed from one big carrier I was with 10plus years to another. My rate of annual 2450 with the same coverage went down to 1100 with the same deductible of 1000. I think my dwelling is covered for 320k which the house itself is only worth about 240k.
That's not your answer but i'd say weigh the options. I've been reading a few years if you shop around every few years you can get a better rate.
That's not your answer but i'd say weigh the options. I've been reading a few years if you shop around every few years you can get a better rate.
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