S/O Homeowner's Insurance

[wendow]

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.

Your rate is great! Now no complaining from you

 

[wendow]

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.

true. But it is interesting, at least to me, to see what others are paying. I may not always live in CO and I'd like to know what areas have high risk factors and is reflected in higher insurance premiums. Maybe those cost balance out in other areas though.

 

[wendow]

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.

That is depressing. Wow! I met a lady last Sept when I was at WDW and she was from NY. She told me her property taxes and I was shocked at how high those were. IIRC, she lived on Long Island.

 

[wendow]

$5100/year.

WOW! We have a 4000 sq ft house too. And we pay $800. We have talked about maybe someday moving to FL but these rates are scaring me!

 

[barkley]

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

we're near Spokane but not within the city limits. when we moved here from northern California a friend said that Vancouver was the PERFECT place to live in Washington because you wouldn't have to pay state income taxes AND were close enough to Oregon to take advantage of their lack of sales tax

 

[Longsx3]

While our insurance in Florida is a little higher, property taxes all depend on the county/city. Mine are about $1600 for 285,000...not horrible IMO. Remember we don't have state income tax nor do we have personal property tax.

 

[southlakejr]

We pay $997 a year for our house- 1452 sf, 72 years old in the Bay Area, CA. Market value of the house is about 425k, replacement value is around 280k. Policy would be 60 cheaper per year if we had the multi policy discount, but AAA wants 200 more a month for auto insurance than our current carrier, so that doesn't seem like a smart move

We don't have earthquake or flood insurance though. Earthquake coverage is just piss poor with incredibly high deductibles (10% of the value of the house). Flood insurance would be about 3k for our house, as we back to a creek. (The creek is cement, about 9 feet deep, and our house is raised 3 feet off the ground. If water is hitting the inside of the house, we don't need insurance, we need an ark)

 

[christineann]

Unfortunately, that is what happened to us in 1989. We live on a natural creek in a house with a three foot crawl space, and we got four feet of water in the house. Salt water ruins everything. My mortgage company requires flood insurance, and even if they didn't, I would have it. That was the one and only problem I've ever had with flood, and dealing with a flood adjustor from out of state who knew nothing about our area, construction prices, and the difference between linoleum and hardwood floors was proof that I will never be pushed far enough to commit assault or murder. He also raked me over the coals because I threw out baking dishes that had raw sewage in them ("just wash it, honey"). I would add that in 1989, the flood insurance and federal government didn't pay for or help with living expenses, a place to live, etc. That was our responsibility.

My flood insurance premium has increased 400% in the last 20 years. BUT it is my choice to live where I do, so I pay it.

 

[thebeesknees]

We are also in CO. Our house is 17 years old, 2400 sf, valued at just under $300k and we just renewed for $900 a couple of weeks ago for the coming year. We lowered our deductible recently to the lowest amount allowed in anticipation of needing a new roof soon due to the hailstorms, so that made our rate go up. We still haven't put in any claims (no big hailstorms yet this year), but it went up another $100 this year compared to right after we dropped the deductible last June. The insurance company said it was due to the flooding and fires last year that they had to pay out on for everyone else. It seems it doesn't matter if you put in a claim or not -the rate goes up every year anyway!

 

[desiree71081]

We live in Louisiana

$4,500 a year for insurance

2600 sq feet, $195,000 home.

 

[Mickeyluver37]

We pay $997 a year for our house- 1452 sf, 72 years old in the Bay Area, CA. Market value of the house is about 425k, replacement value is around 280k. Policy would be 60 cheaper per year if we had the multi policy discount, but AAA wants 200 more a month for auto insurance than our current carrier, so that doesn't seem like a smart move

I think that it's important to note this vs. total market value if you sold the entire property. My house is insured for 375K plus the contents, but I would sell it for $100K more, due to the land value. And our land is measured in square feet- just a high cost of living area. Our house is 19 years old, 3400ish sq. feet, 2 car garage, and our premiums are $1,150/yr. Definitely not high compared to some of the quotes here, but still annoys me because we've never had a claim and it still creeps up every year.

 

[Anthony1971]

We pay a little under 1,000 for a 2,000 SQ foot house -- it has gone up about 25% a year for the last 3 years. Take into consideration we have a brick house with a fire hydrant on the corner which get you nice discounts... Property taxes this year are 10,400.00 located somewhere near NYC in a suburb of a near state.
Who was it that said his property taxes are high at 2,400

 

[hlg22]

This is interesting. I pay around $1000 on a 1700 sq ft, 85 year old (but renovated/well-maintained) house in VA (DC Metro). Current value about $800k. Property taxes are around $8k.

 

[ZephyrHawk]

I only know this info because I just cancelled old insurance on the house I sold and got new homeowners insurance for the house I'm closing on Monday. We live in Michigan.

Old house - $299 annual. A condo with about 1450 square feet, not including the walk-out basement (not sure how much that added). It was 9 years old at the time of sale and is worth around $140,000.

New house - $1,092 annual. The house is 3,373 square feet, 34 years old and about $400,000 appraised.

 

[wendow]

We are also in CO. Our house is 17 years old, 2400 sf, valued at just under $300k and we just renewed for $900 a couple of weeks ago for the coming year. We lowered our deductible recently to the lowest amount allowed in anticipation of needing a new roof soon due to the hailstorms, so that made our rate go up. We still haven't put in any claims (no big hailstorms yet this year), but it went up another $100 this year compared to right after we dropped the deductible last June. The insurance company said it was due to the flooding and fires last year that they had to pay out on for everyone else. It seems it doesn't matter if you put in a claim or not -the rate goes up every year anyway!

We got a new roof this past fall due to hail damage and interestingly enough, our rate dropped $5 a year I do think all these fires and last year's floods will affect our rates here soon.

 

[Disneytam]

Just got to love NYS. 130 year old farm house roughly 2,800 sq feet on a 200 acre dairy farm. Insurance is $3,200 a year but land and school taxes combined are a little over $14,000.

 

[ruadisneyfan2]

We pay a little under 1,000 for a 2,000 SQ foot house -- it has gone up about 25% a year for the last 3 years. Take into consideration we have a brick house with a fire hydrant on the corner which get you nice discounts... Property taxes this year are 10,400.00 located somewhere near NYC in a suburb of a near state.
Who was it that said his property taxes are high at 2,400

Exactly! Our little 1600 sf home is 50 yrs old. HI is around $860/yr. We've been here for over 17 yrs and it started at around $600/yr so it hasn't really gone up a lot.

Taxes are $8600. At least it's a tax write off. Ours aren't even considered high here. I have a friend paying over $20K.
We also have income tax and sales tax. It's really hard to compare to other areas. Before we had kids we looked into moving to FL (approx. 19 yrs ago). The home prices & property taxes seemed super low but then again so were salaries, around half of what I was making in Philly at the time.
That was the scary part of moving & trying to create a budget: cars, clothes, food etc all cost the same as up here.

 

[eyor44]

$2400 annually

We live in one of the 6 coastal counties in MS even though our county doesn't touch the coast line. Ours is 3400 sq ft and worth $300K. We have several discounts; security system, lower fire rating (out side city limits), multi line. We paid $850 per year before Katrina. *sigh*

 

[perdidobay]

The joy of living on the coast (Orange Beach Al) comes at a price. Our 3800sq ft, 15 year old house costs us $6800 in wind insurance, $500 in flood insurance, and $3000 in home owners insurance. The wind insurance has a 10% deductible and insures 500k in replacement cost.
Good news is property taxes are low.

 

[tanjiers]

$1200 Raise ranch in Rhode Island 3 bedrooms, 2 baths Built in '83 Assessed value $239000