Need to Shop for House Insurance...Advice Please

[SamSam]

We've been in the same home for 25 years and the last 2 years our insurance has gone up dramatically. No reason for it! No claims, etc.

Who do you have your insurance with and are you comfortable with the coverage and response.

We're in the Midwest (Kansas) so our home values are pretty darned good. Our house (2 story - 2,100 sq feet with built in pool) is valued at $230,000.00...our insurance this year is $2,000.00. What!

I know it varies depending on your location but this is really high for us. Any suggestions are welcome.

 

[tvguy]

Insurance companies frequently raise rates when a house hits 25 or 30 years of age. Was your house new when you bought it? If so, I suspect every insurance company is going to charge more. Makes sense, the older a house, the great the risk of broken pipes, leaky roofs and electrical failures. Your premiums are based on the risk of a claim.
Off the top of my head, $2,000 doesn't sound bad for a house in tornado territory.

 

[StephMK]

We are in Nebraska and pay about $900 for our house with Liberty Mutual. Our house was built in 1980 and a similar appraised value but no pool. The pool may be driving some of that price due to liability exposure.

We have been very happy with them. We had a roof/gutter claim due to a freak hail storm. They replaced the roof & most gutters with absolutely no issues. And our insurance actually went down because we got a credit for having a new roof and safer material. We changed from wood shake to asphalt shingles so now we have a lower fire hazard.

We also have our car insurance with them and they were the lowest I've found for having a younger driver on the policy. We have not had any huge increases in the last 4 years or any claims on the autos.

 

[RitaE]

We've been in the same home for 25 years and the last 2 years our insurance has gone up dramatically. No reason for it! No claims, etc.

Who do you have your insurance with and are you comfortable with the coverage and response.

We're in the Midwest (Kansas) so our home values are pretty darned good. Our house (2 story - 2,100 sq feet with built in pool) is valued at $230,000.00...our insurance this year is $2,000.00. What!

I know it varies depending on your location but this is really high for us. Any suggestions are welcome.

Just went through putting ours out for bid. We have similar home values and also a pool. We carry a million dollar liability addition due to the pool. Ours was also headed over $2k for 2015 and we've never filed a claim. We also bundle all our vehicles (3 of them) with the home insurance to maximize the discounts.

*Country Companies … almost 25% higher than everybody else's rates and they didn't seem to care when I told them that. They were just like "Oh well, go away former customer who has always paid their bills and never filed a claim."

*Liberty Mutual just sent us a rather terse note that our house doesn't meet their standards. If I wanted to call they'd tell me why, but I didn't bother. I know when I'm not wanted.

*State Farm came in with the second lowest quote but our local agent was such a pain in the butt I disqualified them. He left a flyer with quote details in our mailbox (nice) and then two hours later right before dinner was knocking at my front door wanting to come in and talk (too much). Three days later he sent me a pretty terse email demanding I call him and tell him whether I wanted the insurance or if he should delete my file. I just put him on Spam filter and blocked his phone number.

*American Family actually gave a pretty good quote, but their process ended up being too time intensive … phone call, phone call, phone call…. I got bored.

*We ended up going with Allstate. I was actually able to get better home coverage and added Earthquake coverage for about $650 less than what I was paying. I'd just read this scientific journal article about an earthquake in the Midwest and I was feeling kind of anxiety ridden over the possibility, even though my husband thinks it's ridiculous. It was only about another $100 for the year.

So glad not to have to do that again hopefully for a couple of years.

 

[ruadisneyfan2]

We've been in the same home for 25 years and the last 2 years our insurance has gone up dramatically. No reason for it! No claims, etc.

Who do you have your insurance with and are you comfortable with the coverage and response.

We're in the Midwest (Kansas) so our home values are pretty darned good. Our house (2 story - 2,100 sq feet with built in pool) is valued at $230,000.00...our insurance this year is $2,000.00. What!

I know it varies depending on your location but this is really high for us. Any suggestions are welcome.

Wow, to me that's high. Our house was last appraised at $260k, approx. 1700sf rancher with a 2 car attached garage. No pool. We've had AAA for homeowners & auto for years. The homeowners was around $950 last Dec.

Once ds17 got a DL last winter, not his own car, the car ins would have doubled with AAA so we switched to GEICO. (Same coverage for around $1300 less. But I digress.)
So I haven't gotten the new bill for the homeowners policy that would become effective in late Dec but I imagine it will be higher without the multi-policy discount that was in place last time we renewed. We've never had a claim and when I called AAA last year to ask if we'd get a discount for having a new roof installed I was told no.

I'm no insurance expert but when I think flat areas of the mid-west I think tornadoes. It may not happen to one particular street very often but when it does it's catastrophic. Just like the NJ shore/NY so rarely gets a hurricane but since Sandy hit rates for properties near the coast shot up.
They probably have some computerized risk assessment that helps guide their pricing.

 

[disneymomto5]

For what it's worth, I'm on the east coast, never filed a claim and my homeowners insurance has steadily gone up for the last 2 years. When I shopped around last year and the rates were even higher than what I had I was told that all homeowners insurance was going up because of the natural disasters of the last few years. For example even though we weren't affected by Hurricane Sandy we still had to pay the price since insurances had paid out so much. I think that's totally unfair, but it is what it is.

 

[yoopermom]

Does either of your employers or professional organizations have connections to an insurance company? Here in MI, we have an insurance company for teachers, that I've been with for twenty years that is really good. Otherwise, do you have an independent agent in your area that could shop around for a good rate for you?

I've found through bad experience, that a good agent is as important (if not more so) than a good company.

I would also have them go through line by line every addition and subtraction to the policy. We get discounts for some things that I think are a little odd, and pay a little more for some things that are more important to me than they may be to others.

We just insured the house we bought last week for 220K, it has a two car attached garage (adds to cost), and a wood burning stove (adds to cost), we chose to add additional coverage for possible basement damage (because it's a finished one), a jewelery rider, and a larger liability coverage (I think a million), and our cost is $1300/yr ($1K deductible).

Terri

 

[smiths02]

We are through USAA for homeowners and Auto and our rental house.

We *just* had a large claim on our rental house and they were very easy to deal with and paid out what they should have. (Now we will see how much that policy goes up )

The only thing with USAA is that you have to be a veteran or the child of a USAA member.

Also, our house is insured against the cost to rebuild NOT the market value of the home.

ETA: Our dwelling coverage is $459k (this is more than house market value, more than our mortgage) plus $344,000 for personal belongings and $45k for "other dwellings" (I guess the garage). USAA determined this amount-not us! We don't have $344 K worth of stuff LOL
Our premium after discounts is $1395.

But we live in GA (and not in a flood zone)...there are not many natural disasters that cause widespread damage (hurricanes, earthquakes, tornado, snow, etc. do happen but usually not that severe where we are). Also, very low crime in our area.

Check your deductible (maybe raise it?) and check with your company about things that would lower your bill (alarms, smoke detectors, etc.)

 

[SamSam]

Thank you all for your responses, I took notes as I read them so that I can develop my plan for agencies to check out.

Yes, our house was built new 25 years ago this December. So it does make sense that it is coming of an age that things start happening. Believe me, there are many repairs we will need to make over the next couple of years just from wear and tear.

You have all given me much to think about and to research, I really appreciate all your input.

 

[usd2bmd]

We're outside Buffalo, NY and our house is insured for $200K, with $20K coverage for the garage and $140K for our personal property. We have $5000 coverage for water back-up in the basement and a $500 deductible.

We don't need flood, earthquake or hurricane insurance and we just rec'd our renewal and it's $595/year.

We're insured through Allstate and we have three cars and a motorcycle through them as well so there are discounts but overall We are very lucky here that our rates are so reasonable.

 

[SamSam]

We're outside Buffalo, NY and our house is insured for $200K, with $20K coverage for the garage and $140K for our personal property. We have $5000 coverage for water back-up in the basement and a $500 deductible.

We don't need flood, earthquake or hurricane insurance and we just rec'd our renewal and it's $595/year.

We're insured through Allstate and we have three cars and a motorcycle through them as well so there are discounts but overall We are very lucky here that our rates are so reasonable.

That's amazing! I will add Allstate to my list of 'must call'.

 

[christineann]

You might also check with an independent agent, who sells for many companies. My independent agent shops around for my homeowners and auto insurance every year to see if there is anything better for me. I am probably going to have to sell my house because the flood insurance has gone up so much. I've lived in my house for 30 years.

 

[SamSam]

You might also check with an independent agent, who sells for many companies. My independent agent shops around for my homeowners and auto insurance every year to see if there is anything better for me. I am probably going to have to sell my house because the flood insurance has gone up so much. I've lived in my house for 30 years.

So sorry you are in that position. insurance sucks sometimes!

We are going through an independent agent already and in the past years it's worked well. In the past couple or years I feel they've gotten complacent (or something) but our rates for all insurances through them went up.

I just hate playing the 'shop' game, but I will. Thanks to everyone here I have some things to check into.

 

[kathy884]

With the age of your home (not that old) you can definitely get replacement cost insurance. Just be sure to get that rather than an actual cash value policy. With the replacement cost coverage, the insurance takes care of any repairs and is much better for getting your home back to the way it was before damage.

 

[pryncess527]

We are through USAA for homeowners and Auto and our rental house.

We *just* had a large claim on our rental house and they were very easy to deal with and paid out what they should have. (Now we will see how much that policy goes up )

The only thing with USAA is that you have to be a veteran or the child of a USAA member.

YMMV, but we are also with USAA and had a claim for a house fire last year and our rates did NOT go up. I can not say enough amazing things about the service we got after the fire -- it was only in the kitchen, so we were not displaced out of our home, but USAA took amazing care of us. They were insistent that we do things like dry clean all the fabric on the entire first floor out of concern that lingering chemicals from the fire extinguishers would cause us long term health issues, for example.

 

[SandyinMonterey]

I am 48 years old and have been with Liberty Mutual since I started driving at age 16. When I got married, my husband switched to Liberty Mutual. We have both house and auto policies. Originally from NJ and now living in California, I've had experience with two different office and people. I can honestly say that I've never had a problem and on occasion, those at Liberty Mutual have gone that extra mile. We still have a storage unit and vacant land in NJ which is also under policy and when we had "issues" with NJ about the vacant land and the storage company now wanting proof of items in storage be insured, Liberty Mutual took care of it all. They said give me names, contact numbers and they did all the work. I didn't ask them to, they offered. Yes, our rates have gone up thru the years but mostly due to happening around the country (earthquakes, floods, hurricanes, etc.).

 

[SamSam]

I am 48 years old and have been with Liberty Mutual since I started driving at age 16. When I got married, my husband switched to Liberty Mutual. We have both house and auto policies. Originally from NJ and now living in California, I've had experience with two different office and people. I can honestly say that I've never had a problem and on occasion, those at Liberty Mutual have gone that extra mile. We still have a storage unit and vacant land in NJ which is also under policy and when we had "issues" with NJ about the vacant land and the storage company now wanting proof of items in storage be insured, Liberty Mutual took care of it all. They said give me names, contact numbers and they did all the work. I didn't ask them to, they offered. Yes, our rates have gone up thru the years but mostly due to happening around the country (earthquakes, floods, hurricanes, etc.).

Liberty Mutual will definitely be added to my list of who to call for quotes.
BTW, our son and daughter in law plus 6 grandkids live in Southern California. Love visiting!

 

[Swimalie]

That's amazing! I will add Allstate to my list of 'must call'.

Watch AllState. My mother in law has them. They have doubled her rates in the last 5 years. She hasn't had any claims for well over 10 years so there was no real reason for the increase. She lives in a smaller home than us on an average lot with no extra riders. We live in a more populated area, larger house, extra riders and pay about $900 less a year through USAA.

 

[SamSam]

Watch AllState. My mother in law has them. They have doubled her rates in the last 5 years. She hasn't had any claims for well over 10 years so there was no real reason for the increase. She lives in a smaller home than us on an average lot with no extra riders. We live in a more populated area, larger house, extra riders and pay about $900 less a year through USAA.

Thanks, I will definitely be wary of Allstate. We're not eligible for USAA, dh had an epilepsy problem as a teen so he was not able to serve.

 

[tvguy]

Watch AllState. My mother in law has them. They have doubled her rates in the last 5 years. She hasn't had any claims for well over 10 years so there was no real reason for the increase. She lives in a smaller home than us on an average lot with no extra riders. We live in a more populated area, larger house, extra riders and pay about $900 less a year through USAA.

I don't think there is any rhyme or reason to insurance rates. I've had Allstate for 31 years and every time I do any comparison shopping they always are within $25 a year of the lowest bid. I do have Homeowners, auto and umbrella through them, so I do benefit from a discount.