S/O Homeowner's Insurance

[wendow]

I am curious what others around the country are paying. I was kind of shocked at what people in FL were saying they pay. We live in CO. We pay $800 annually on a 400k house.

Do you mind sharing? Where you live and what you pay?

 

[tvguy]

$1250 for a 35 year old 2,000 square foot house worth about $340,000.

It jumped about 25% 5 years ago when the house turned 30, which I am told (rightly or wrongly) is common as a house passes 30 years in age because the risk of plumbing and electrical failures from age increases at about that point.

 

[Straitlover]

Around $870 for a 1200 sq ft house worth around $110K in NC. I have Farm Bureau, and that's w/ the multi-policy discount.

 

[TifffanyD]

$2k for a $160k house. That doesn't include an addition $400 for flood. Both annual policies.

 

[wendow]

It jumped about 25% 5 years ago when the house turned 30, which I am told (rightly or wrongly) is common as a house passes 30 years in age because the risk of plumbing and electrical failures from age increases at about that point.

I didn't know that. Our house is only 20 years old but make sense rates would be higher on an older home.

 

[Eighty8Keys]

I pay $333 annually for a 1300 sq ft, 42 year old house worth around $240K in Portland, OR through State Farm with a multi-line discount. Seeing what others pay makes me realize that I really can't complain. Now, property taxes are another story. Not sure what others are paying but my last annual tax bill was $2,400. But I guess that's offset a bit by not having any sales tax.

 

[mikehn]

There are so many risk factors that determine a homeowners premium. So a simple quote has absolutely no meaning without also knowing all the risk factors.

 

[Gr8t Fan]

I pay $333 annually for a 1300 sq ft, 42 year old house worth around $240K in Portland, OR through State Farm with a multi-line discount. Seeing what others pay makes me realize that I really can't complain. Now, property taxes are another story. Not sure what others are paying but my last annual tax bill was $2,400. But I guess that's offset a bit by not having any sales tax.

I'm moving to Portland! I never realized that property taxes out there are so low, in addition to not having sales tax.

We pay $940 for a 1,000 sq. ft., 59 year old home worth about $200K.

 

[figment81]

glad I am not alone in thinking those rates in FL were so scary. We are buying our first home, and working on our insurance binder!

$1,200 for a 20 year old home $500k house here in Massachusetts no flood insurance yet.

 

[Eighty8Keys]

I'm moving to Portland!

Yippee! I hope you'll be as happy here as we've been! We love it here.

 

[rsschneck]

Don't move too soon. I live in Portland, OR as well and pay much more than that. House would sell for about $750,000 Fair Market Value (this is where they figure your property taxes) around $450,000 Property taxes right around $8,000 for the year (property taxes automatically increase 3% each year and that doesn't include any passed bond measures). Insurance around $800 (no flood or earthquake added)

 

[bdcp]

About $800/year on a 3700 sq ft (above grade, +1800 sq ft basement) 10 year old house with a 3 car garage on 2/3 acre worth about 800K.

In FL, it's not unusual to have a huge (thousands) homeowners insurance due to flood and hurricanes and only hundreds in property taxes.

 

[superme80]

We pay about $1200 a year for a 1400 sq ft manufactured home that is 14 years old.

 

[4shinystars]

Want depressing? We pay almost $600 a year for a 14x80 mobile home that we bought new in 1988...
In New York State. And my sister pays that amount for her $175k home.

 

[4HOLIDAYS]

$5100/year. That's actually down about $250 from last year. Our house is 40 yrs old, 4000 sq ft plus a second garage that's another 1200 ft garage on prop./ We have good coverage with Tower Hill, had them for 3 yrs now. We also have a pool and are on a canal .

I know they go by sq ft as well as value of prop, which Im guessing is $450-$500K now. My friends that have homes in our neighbor hood , that are about half the size, are paying just a bit more than half that amount.

 

[kimsuenew]

1,200.00 for a (older) home valued at 100,000.00. Best rate available due to age of home.

 

[barkley]

I'm moving to Portland! I never realized that property taxes out there are so low, in addition to not having sales tax.

We pay $940 for a 1,000 sq. ft., 59 year old home worth about $200K.

nah-you want to move a little farther north to Washington state. 2356 sq. foot 7 year old home on 10 acres w/3 newer outbuildings/greenhouses (included in insurance) with higher coverage for replacement value on our 'valuable crap'-$527 a year (we do get multi policy discounts). our property taxes are $2747 per year. house is worth about $330,000.

Oregon has no sales tax while we do-but we don't mind it too much since we have no state income tax

 

[Colleen27]

We pay a small fortune - just shy of $2K/year on a house that is not quite 2000sq ft in a location not especially prone to any natural disasters. The house is very old, though, built in 1880, and the replacement cost estimate is sky-high because it takes into account the plaster, millwork, and other details original to the house. We'd never actually incorporate those things if we had to rebuild but that doesn't matter to the insurance companies. The estimated replacement cost of our home is about 5 times the market value.

 

[mattykin]

nah-you want to move a little farther north to Washington state. 2356 sq. foot 7 year old home on 10 acres w/3 newer outbuildings/greenhouses (included in insurance) with higher coverage for replacement value on our 'valuable crap'-$527 a year (we do get multi policy discounts). our property taxes are $2747 per year. house is worth about $330,000.

Oregon has no sales tax while we do-but we don't mind it too much since we have no state income tax

Where do you live in Wa? We are just over the bridge in Vancouver wa and pay around 800.00 for a home that is 19 years old and valued near 300,000 property tax is 2400.00 with school bonds

 

[TifffanyD]

About $800/year on a 3700 sq ft (above grade, +1800 sq ft basement) 10 year old house with a 3 car garage on 2/3 acre worth about 800K. In FL, it's not unusual to have a huge (thousands) homeowners insurance due to flood and hurricanes and only hundreds in property taxes.

Not sure about the hundreds in property taxes. Our insurance and taxes are pretty close in cost.