Looking for Budget-friendly Home Owners Insurance recommendations!

[tinkercat]

We are set to renew our home owners insurance policy (and auto policy for that matter) next month. Despite having no claims and us putting on a new roof our current provider (AllState) has raised our rates by about $40 for next year.

So, I want to shop around and try to get a better deal. Any recommendations of good, budget friendly places to check for a quote?

 

[wovenwonder]

We just switched from Met Life to Allied and saved about 50% for similar coverage. I would contact a local insurance broker. They usually have access to quite a few different companies that they can obtain quotes from.

 

[Juliee8]

We are switching our home insurance from Allied to Travelers Insurance 2/1/10. They ended up saving us over $500 a year for home and auto insurance. Maker sure where ever you go you put both auto and home with the same company for the best rates.

 

[Calliaz]

I don't know if they are "budget" but we've had excellent service from Travellers. I've also heard great things about Amica.

 

[MrsPete]

I don't know about companies, but what's your deductible? Lots of places will give you a super-low deductible like $100-200, even though you'd never file a claim (and see your rates soar) for such a small amount. Consider raising your deductible, and your premiums will go down.

 

[msmayor]

Raising your rate by only $40 a year and you're ready to switch? Quite honestly, that is a VERY reasonable increase...just a little more than $3/month.

 

[MickeyManiac]

After several years with Allstate we changed to Metlife a couple of years ago and saved $600/yr combined on our home and auto policies.

 

[Sandi]

Best thing to do is to shop around -- and tell your Allstate agent you're doing that, too. Contact agents for captive companies (State Farm, Allstate, etc.) and also contact an independent agent who writes for a number of companies. Give them the same information so you're comparing apples to apples (i.e. same deductible, etc.). Many companies will give you a discount for multi-policy (homeowner and auto insurance). Sometimes, if you get a small life insurance policy with the same company the cost of that policy will be offset by the savings you get for the multi-policy discount. It takes some work to do this, but it's like shopping for anything else.

 

[tinkercat]

Raising your rate by only $40 a year and you're ready to switch? Quite honestly, that is a VERY reasonable increase...just a little more than $3/month.

In the 2 years that we've had them, rates have increased by over $60 when we have done improvements which should have resulted in rate reductions. In addition, our auto insurance (also AllState) has increased by at least $20 per year as well. While I agree that the increases aren't drastic, the fact remains that there has been no reason/claim to justify an increase and I am pretty certain we can find better rates with another company after comparing our rate with that of friends with homes similar to ours.

I am one of those customers that believes that a company should give me a reason to stay with them. To me, that includes keeping competitive rates. I know some companies offer discounts to loyal customers, and I've read suggestions many times that people should shop around for the best insurance rates every few years anyways.

 

[elliemae1192]

We're with Allstate too and our rates have gone up around $150-$200 a year for the last 3 years. We live in lower Alabama and after hurricanes Katrina and Ivan came through, insurance rates have soared. The bad part is that we live WAY in from the gulf and are not in a flood zone, and we've NEVER in the 11 years of owning this house, filed a claim. Still keeps going up though!

 

[msmayor]

In the 2 years that we've had them, rates have increased by over $60 when we have done improvements which should have resulted in rate reductions. In addition, our auto insurance (also AllState) has increased by at least $20 per year as well. While I agree that the increases aren't drastic, the fact remains that there has been no reason/claim to justify an increase and I am pretty certain we can find better rates with another company after comparing our rate with that of friends with homes similar to ours.

I am one of those customers that believes that a company should give me a reason to stay with them. To me, that includes keeping competitive rates. I know some companies offer discounts to loyal customers, and I've read suggestions many times that people should shop around for the best insurance rates every few years anyways.

Insurance rates are not static though...and improvements that raise the value of your home require MORE coverage...at MORE cost. Many insurers raise rates at a much heftier clip than just $20-60/year.

 

[mnrose]

I hate that fact, but it appears to be true. The "new" customers get the best rates to get them to switch, and then the rates are gradually raised. We switch carriers every 2-3 years. It's a PITA for us, but we can save $300-$400 (or more) by doing it. We have a substantial book of insurance business too...3 cars, 2 homes, 3 rental properties, 1 boat, and an umbrella policy over it all. You'd think they'd be interested in keeping us. LOL!

We always stick with companies known for good service, and high ratings. I'm not interested in smaller companies who may not be there when you actually need them. Our current company is American Family...whose service is outstanding.

 

[mrudman]

Just last month, we switched from State Farm to Liberty Mutual... saved us about $320/yr. We tried sticking with state farm (just for loyalty to them), but they weren't able to offer us the same rate.. and that's for the exact same coverage on everything.

 

[TinkerbelleAbbysMom]

I don't know if it's allowed to say this but Dave Ramsey always suggests hjis listners go to ZanderInsurance.com. This company is wonderful. You can virutally get every type of insurance through them. They sort of shop around to get you the best quote. We have our home and cars with Travelers as they had the best rates for us. Our life insurance policies are with two other companies but Zander handles the issues which may arise.

 

[Swimalie]

Do you have access to USAA - are you military or dependent of a military person? If so, they are consistently ranked as one of the best in customer service and price. We've had them for about 20 years now and will never switch. We've had no problems (no claims on home owners, either) and they've lowered our home owners rates as the years have gone on. We have both home owners and auto insurance with them.

 

[elcodfish]

Allstate raised my homeowners insurance by $250, when I called to ask why I was told, "because things go up". I called Liberty Mutual, saved $200 from what I was paying last year and got better coverage! My advice is to call around and get as many quotes as possible, just make sure you are comparing apples to apples adn getting the same coverage.

erica

 

[JandJ]

I second the PP who said to contact a local insurance broker. They'll be able to give you rates from several companies. We're in FL and there are very few insurance companies who offer homeowners coverage. I actually met an insurance broker on a Disney bus to DTD a few years ago, kept his card, and called him when Nationwide dropped us in 2008. Anyway, our insurance went up over $300 this year and our broker said it's still a great deal compared to the other 2 or 3 companies still offering coverage in FL so we are sticking with them - little choice!

 

[Disney Newby]

Where ever you end up going, make sure you are getting good coverage. Some compaines write a policy that only covers wind and fire. They excluded a lot of causes of loss, like freezing pipes. The increase really depends upon where you live and the losses they have experienced in that area. A $40 a year increase is not that much when you consider how the cost of living in many other areas of life have increased. I agree with looking at your deductible and getting some different options with the company you are currently with. If you are happy with the service you get from them and have been there a long time it may be worth the slight increase to stay.

 

[Heidijs]

The best rates I've ever had on car and house is Great Northwest Insurance. I get it through a different agent but it's out of Arizona I think. CHEAP rates and excellent coverage! I had State Farm quote me with the same coverage and she said they can't even come close. We pay $630 a year for homeowners coverage and State Farm was like $1100 even with the multipolicy discount...I had Allstate look at my current rates and they said they can't beat it either and she even said she knows this is a good company...I pay $680/6 months for full coverage on two vehicles, liability on another and $10,000 coverage on our travel trailer...

 

[bootleg89]

I have State Farm and while they are not the cheapest out there, I like knowing that if I need them I won't get the run around. Before I purchased my house in 2008, I lived at my MIL house. They had a really bad storm and lightning struck the neighbors tree in the middle of night. The tree damaged MIL house, tree owners house and neighbor on other side house. MIL and tree owner had AllState and 3rd person had StateFarm. MIL and tree owner had to wait till 2nd day before damage was even assessed by AllState. 3rd neighbor had it assessed that next morning and had people cleaning up her damage 2nd day, before Allstate even showed up to asses. This along with experiences that I've had with auto accidents and claims, keeps me with them.
I'd hate to switch to save money, only to discover when I need them that there was some loop hole that allows them not to cover or to have to wait for service.