HALP! Home Owners Insurance Peeps?

Can anyone recommend a good company that a) has great rates, b) is reliable, c) won't jack your payments because of a small claim here or there?

Just bought a home and need to secure HomeOwners Insurance. I have a quote from Allstate insuring a 180K property for $670 a year with 500 deductible. That's about 55/month.

Is that even competitive?

1/25/2008 12:18:38 PM

NC Farm Bureau

1/25/2008 12:25:40 PM

ERIE

1/25/2008 12:26:02 PM

if you even think of making a sub-10k claim and not expect your rates to skyrocket (and be reported to CLUE) then think again.

i've had nationwide for a while, but it's b/c I get the multi-car/home discount. it's substantial. not had a problem, but haven't had to make a claim yet either.

make sure your coverage includes the cost to rebuild your home/not market value.

1/25/2008 12:34:38 PM

How would you know how much it would cost to rebuild your home? Appraised price + 20% or some formula?

1/25/2008 12:48:53 PM

As with any insurance: if you can get USAA, use them.

1/25/2008 12:50:31 PM

wait, but that's for military people? I'm not military

1/25/2008 12:54:21 PM

I'm with Allstate. My rate is notably cheaper than yours. I know I get discounts for having an alarm and for having my vehicles and house with them. I think I went with a $1000 or $1500 deductible too. I probably wouldn't consider filing a claim less than $3k anyway for the aforementioned reasons.

Sometimes a good agent makes all the difference in the world. When I was with Nationwide I found myself calling the office all the time asking why I wasn't getting particular discounts after hearing about them from friends. I shouldn't have to ask for discounts that I may or may not know exist. That's where having a good agent and asking them to examine your policy yearly comes in.

[Edited on January 25, 2008 at 1:01 PM. Reason : l]

1/25/2008 12:56:36 PM

Can you recommend a trusted agent? If so PM me or email at kainen@gmail.com.

I'm at the mercy of referral right now, but could use suggestions before hitting the fickle finger of fate.

1/25/2008 1:01:45 PM

rates for preperty are based on credit report, pror insurance, and previous claims. You can also get the follwing discounts:

New home
Home and Auto
Claim Free ( available with prior property insurance)
Protective Devices ( 2% for deadbolts, smoke detectors) (up to 10% with alarm system)

I work for allstate so this is from us. Also 180 k in property insurance would pay out up to 225k to rebuild your house, (125%) gurantee. Best thing to do is get some quotes and bundle your auto and home in the same place.

1/25/2008 1:05:56 PM

i've got allstate as well - mainly b/c i have my car insurance through them and have all of the discounts that ^ mentioned - my insurance is 450 and my place is more expensive than yours by a decent bit

1/25/2008 1:10:29 PM

Congrats on the new house!
Glad things worked out for you guys

1/25/2008 3:03:40 PM

Yeah Allstate is cheap. they just quoted me 400/month over the phone based on the fact that we had them for 4 years under a renters insurance plan and were claim free. Much better than the online quote I originally had.

Only thing that's a bit weird is that their dwelling protection on my home is 115K when we bought it for 180K. I guess since we have .25 acre lot thats at 60K value that's about right for the actual house. I was hoping for a bit more there.

[Edited on January 25, 2008 at 3:23 PM. Reason : ^ thanks ]

[Edited on January 25, 2008 at 3:23 PM. Reason : g]

1/25/2008 3:21:41 PM

remember if you do allstate you have 125% gurantee on your home. so if a total loss occured at 115k you would get up to 143750 to rebuild. If you want to raise it, after you get your policy number call any allstate agent and you can raise it no problem.

1/25/2008 3:36:34 PM

State Farm 919-790-3886

Its worth it to have a local agent and all of your insurance in one place. When there is a crisis is not the best time to get some call center that has no idea who you are or what is going on.

1/25/2008 3:43:24 PM

I'm doing NC Farm Bureau on a house that is about the same value.

Over the past 3 years : 2005 : $300, 2006 : $400, 2007 : $340
I also have my car insurance with them so not sure how that factors in (if at all).
Never had any claims, don't plan on doing any claims unless its multiple thousands of dollars worth of damage.

-- Dave

1/25/2008 3:50:41 PM

If you would like to go with Allstate, then use my brother in Cary off of Jones Franklin, he has his own agency and can beat corporate prices usually... I'll tell him to hook you up. PM me anyone who is interested.

1/25/2008 3:53:57 PM

^ you must mean todd mendler judging by your profile

i'll put out a vote against going with him - unless by chance you get some ridiculous deal through him

i had him as my agent for a few years for car and renter's insurance - i will say though that i never had a claim while i was with him and maybe he handles that whole process very well - overall i was just not impressed with him and his office - it seemed like the small things took longer than normal - he was my first insurance agent after i got off of my parents' policy and due to my inexperience with the whole process i wasn't sure what to expect out of an insurance agent - the new guy i'm with has shown me a level of service i'm happy with

i do think he told me once that he was a state grad and that wins him some points

as another side note - if you have seen all of the commericals about all of the new things that all state has i don't think his office offers them - but that could have changed by now - accident forgiveness (rates not going up after 1 accident) and deductible rewards (your deductible going down $100 each year you don't have an accident until it hits $0)

[Edited on January 25, 2008 at 4:47 PM. Reason : updated for V]

1/25/2008 4:33:46 PM

What is your complaint with him then?

1/25/2008 4:35:24 PM

let's stick to homeowners insurance not auto....or are you referring to the home owners stuff?

1/25/2008 4:56:53 PM

i don't want the thread to turn into a big argument about who the best insurance agent is

the comments were in general and not specific to any type of insurance - they are really only applicable if you are considering going through allstate

1/25/2008 5:01:31 PM

The only reason I ask is that I am with Todd and I have been very satisfied thus far. I was with Frank Ascott (Nationwide) before and dealing with them was worse than going to the DMV.

1/25/2008 5:15:00 PM

i use state farm and have been very pleased with their prices and level of service. if you (or anyone else for that matter) would like a specific referall, pm me.

1/25/2008 5:26:16 PM

my home owners is around $60 a month

but i live in a state with crazy law and rules

some small lenders couldn't finance a condo in the state or even quote insurance because the rules were too out of control and they just dont do business there at all

1/25/2008 5:36:55 PM

Anytime you file a claim, your rates will go up and your company will most likely will try to drop your coverage at renewal.


[Edited on January 28, 2008 at 11:43 AM. Reason : k]

1/28/2008 11:41:20 AM

Quote :

"i've got allstate as well - mainly b/c i have my car insurance through them and have all of the discounts that ^ mentioned"

Also my place is about the same price as yours and my insurance is 380 ($1000 deductible). I also am not too worried about them dropping me since I have other coverage through them along with everyone else in my family.

1/28/2008 11:46:04 AM