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  #1 (permalink)  
Old 02 Jan 2018, 08:48 am
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Join Date: Aug 2015
Location: Lake Wales, FL
Posts: 4,156
Default Homeowners Insurance

Hey Guys, since I had 3 claims on my homeowners insurance last year, I just got notified that they're NOT going to renew my policy when it comes due in April. It pisses me off that through no fault of mine, that this has happened, so now I'm trying to find some new insurance. Who do you guys use and do you consider reasonably priced? I've got about 1,300 square feet on a frame house built in 1971. I currently have it insured for $165,000. It's market value isn't that much, but that's the replacement figure to rebuild if something happened. Unfortunately, being in FL, I have to have hurricane insurance too. What a rip in the butt! If need be, I'll switch my car over too just to get a discount.
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Old 02 Jan 2018, 09:15 am
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Location: USA kalyfornia
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Default Re: Homeowners Insurance

Re: Homeowners Insurance


AAA and/or USAA

It hard to compare what I pay because every state and property is different.
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Old 02 Jan 2018, 10:34 am
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Join Date: Oct 2013
Location: Arkansas
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Default Re: Homeowners Insurance

I've got mine with Shelter like everything else. My house is about 1,900 square feet and built in 1973. Current value is about $190,000. The same home would be half that much or less in the small rural town where me and my sweetie grew up.

I have expanded restoration cost, which means they will restore my home to original condition beyond the current value since it costs quite a bit more to build a home here than a used home will appraise for. In addition to this, I've got about $130,000 for personal property replacement. Deductible is $500.

I live on a hill so there's no need for flood insurance. I'd still be 50 miles from the beach if the ice caps melted. That would be cool. And we only get the remnants of hurricanes which are just "storms" at that point, so I'm covered for that. Tornados are the big deal here and I'm covered. I'm 150 miles from the New Madrid earthquake fault. According to my geologist buddy that used to be the State earthquake guy, a magnitude 8 at the New Madrid was shake a picture or two off the wall, but I'd likely have no structural damage.

My claims have just been roofs. So far, I've gotten a new roof about every seven years due to ice storms. My current rate is right under $1,500 per year. It's included in my escrow so I never see the bill but its available online.

Like Nitro said, home insurance is gong to vary a lot state to state since property values and insurance regulations are so different depending on where you live.
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Old 02 Jan 2018, 10:42 am
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Join Date: May 2014
Location: Central Florida
Posts: 4,219
Default Re: Homeowners Insurance

I'm not sure if any users outside of Florida can actually help...being in Florida you need Hurricane & Flood Insurance if you want to be totally covered.
When we got hit hard in the mid 90's...all mobile home owners got dropped.
You can now find a few company's that will offer it, but it's way too high.
JMO

Also, a few companies even pulled out of Florida altogether.
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Last edited by LionPT; 02 Jan 2018 at 10:44 am.
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Old 02 Jan 2018, 11:40 am
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Default Re: Homeowners Insurance

Quote:
Originally Posted by LionPT View Post
I'm not sure if any users outside of Florida can actually help...being in Florida you need Hurricane & Flood Insurance if you want to be totally covered.
My house and where it is at we carry earthquake and flood to be completely covered.
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Old 02 Jan 2018, 12:05 pm
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Join Date: Aug 2014
Location: Thousand Oaks, CA
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Default Re: Homeowners Insurance

When my parents were in Olympia, State of Washington they had a bad storm where the pine trees got top heavy with ice and snapped off putting holes in the roof. When they filed the claim the insurance company threaten to cut them off unless they cut down the pine trees next to the house. I helped my father cut down all the trees that could damage the house and the insurance company kept their insurance going.

I am grateful that I live in a area where earthquakes are the only concern. I have not had to file a claim yet as I am not next to the fault line where some houses get damaged but you never know if a big one is coming. I find the fire insurance in my area is competitive and not much different in prices. Fire and earthquake insurance is all we have in our area.
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Last edited by ptcruisersteve; 02 Jan 2018 at 12:12 pm.
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  #7 (permalink)  
Old 02 Jan 2018, 02:02 pm
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Join Date: Aug 2015
Location: Lake Wales, FL
Posts: 4,156
Default Re: Homeowners Insurance

Well, I'm not a veteran, so don't know if USAA would even give me a quote. And I DON'T have to have flood insurance where I live. I had a survey done after I moved here and found out that I'm not in a flood prone area. I had State Farm when I first got the house and they tried to screw me on that one. I cancelled their sky high policy and found better coverage for less. Until now, that is. I've found an agent that's supposed to be working on some quotes and will call me back later today. She said she MIGHT even be able to get me a cheaper policy than this one. She thought it was a little high. And I don't live in a mobile home, Lion. No way I'd do that in this state.
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Old 02 Jan 2018, 02:13 pm
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Join Date: Aug 2011
Location: Tampa
Posts: 228
Default Re: Homeowners Insurance

I have Florida Peninsula Insurance. Amount paid below for each year.
This is on a 2 bedroom home (villa - means it's attached to 2 other homes).
Approx SQ Footage - 1000

2012 - $1486
2013 - $1899 (even though we didn't get hit/put in claim - hurricane Sandy caused this jump in rates)
2014 - no record available
2015 - $1640
2016 - $1617
2017 - $1662
Also have flood insurance - $370 a year (approx)

None of the insurance companies are worth a damn...especially here in Florida.

Florida Peninsula had us replace our electrical breaker box ($1000) because the original company that made them had issues...the one we had was made by the third company that bought them out...and there were no issues (even the electrician said it was a waste of time to replace it). Weird part was FP never did an inspection of the inside of the home in all those years...don't know how they knew what kind of breaker box we had (and when they tell you have to fix something like this, it's also a threat that if you don't have it fixed within 30 days, they will cancel your policy...it actually took longer than 30 days and they sent a cancellation letter...had to send documentation that it was only waiting on the city/county inspector to complete the job).

FYI - I have never had to put in a claim ... so I can't give you info on how fast they would pay (and then cancel your policy...which I'm sure they would do)

Had Royal SunAlliance back in 2004 - they decided to pull out after the 2004 hurricane bonanza that happened...they told us in July 2005. Had to scramble to find another insurance. (in the mean time, Royal sent a letter to mortgage company that they were cancelling)
Found another insurance (cheaper, yea). Called and notified the mortgage company.
2 weeks later, mortgage company send new info on our mortgage...seems 2 insurance companies have wiped out our escrow...so now our monthly payment is going up $$$$ to rebuild the escrow.
The f'en mortgage company, even after being told we had insurance, had put their own insurance on the home (Traverlers). Traverlers had pulled the money from the escrow.
Then, to make it even worse, Royal SunAlliance also wanted $...as it was against the Florida law to drop customers during the hurricane season. So at one point, 3 different insurance companies were taking our money.
Finally got it all straighten out but our mortgage payments were still higher after that ($$ )...Chase would not fix it.
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  #9 (permalink)  
Old 02 Jan 2018, 02:20 pm
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Join Date: May 2014
Location: Central Florida
Posts: 4,219
Default Re: Homeowners Insurance

Quote:
Originally Posted by chuzz View Post
Well, I'm not a veteran, so don't know if USAA would even give me a quote. And I DON'T have to have flood insurance where I live. I had a survey done after I moved here and found out that I'm not in a flood prone area. I had State Farm when I first got the house and they tried to screw me on that one. I cancelled their sky high policy and found better coverage for less. Until now, that is. I've found an agent that's supposed to be working on some quotes and will call me back later today. She said she MIGHT even be able to get me a cheaper policy than this one. She thought it was a little high. And I don't live in a mobile home, Lion. No way I'd do that in this state.
I know you don't live in a mobile home...it was more of an example.
Also, without flood insurance, I'm not sure any water damage would be covered in a hurricane.
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  #10 (permalink)  
Old 02 Jan 2018, 02:52 pm
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Join Date: Aug 2014
Location: Thousand Oaks, CA
Posts: 7,056
Default Re: Homeowners Insurance

Quote:
Originally Posted by thehoghunter View Post
I have Florida Peninsula Insurance. Amount paid below for each year.
This is on a 2 bedroom home (villa - means it's attached to 2 other homes).
Approx SQ Footage - 1000

2012 - $1486
2013 - $1899 (even though we didn't get hit/put in claim - hurricane Sandy caused this jump in rates)
2014 - no record available
2015 - $1640
2016 - $1617
2017 - $1662
Also have flood insurance - $370 a year (approx)

None of the insurance companies are worth a damn...especially here in Florida.

Florida Peninsula had us replace our electrical breaker box ($1000) because the original company that made them had issues...the one we had was made by the third company that bought them out...and there were no issues (even the electrician said it was a waste of time to replace it). Weird part was FP never did an inspection of the inside of the home in all those years...don't know how they knew what kind of breaker box we had (and when they tell you have to fix something like this, it's also a threat that if you don't have it fixed within 30 days, they will cancel your policy...it actually took longer than 30 days and they sent a cancellation letter...had to send documentation that it was only waiting on the city/county inspector to complete the job).

FYI - I have never had to put in a claim ... so I can't give you info on how fast they would pay (and then cancel your policy...which I'm sure they would do)

Had Royal SunAlliance back in 2004 - they decided to pull out after the 2004 hurricane bonanza that happened...they told us in July 2005. Had to scramble to find another insurance. (in the mean time, Royal sent a letter to mortgage company that they were cancelling)
Found another insurance (cheaper, yea). Called and notified the mortgage company.
2 weeks later, mortgage company send new info on our mortgage...seems 2 insurance companies have wiped out our escrow...so now our monthly payment is going up $$$$ to rebuild the escrow.
The f'en mortgage company, even after being told we had insurance, had put their own insurance on the home (Traverlers). Traverlers had pulled the money from the escrow.
Then, to make it even worse, Royal SunAlliance also wanted $...as it was against the Florida law to drop customers during the hurricane season. So at one point, 3 different insurance companies were taking our money.
Finally got it all straighten out but our mortgage payments were still higher after that ($$ )...Chase would not fix it.
Ouch! When I first bought my house I didn't like a third party controlling what I can and can't do so I got out of the impound account as soon as I could. I also made sure the house I bought had no homeowners association fees.
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