Homeowner's Insurance ?

[Goldensammy]

Closing on a new house here in a couple of weeks. Working through the details with our current agent and whatnot. I get the quote and the dwelling coverage is equal to $141-psf. That excludes the land, of course. Purchase price is equal to roughly $106-psf, lot included. Of course I want 100% replacement cost coverage so I get all the other coverage add-ons that go with it. I call and gripe about it, went over all the details of the home and the lady acted like there isn't much that can be done. With the value that are putting on the replacement cost, my deductible is way too high, not to mention the premiums.

I plan to shop some, but can I expect the same from other insurance providers? Does any of the above sound "off" in your opinion?

Currently with SF, and I can't say anything bad about them.

[Burnadell]

Closing on a new house here in a couple of weeks. Working through the details with our current agent and whatnot. I get the quote and the dwelling coverage is equal to $141-psf. That excludes the land, of course. Purchase price is equal to roughly $106-psf, lot included. Of course I want 100% replacement cost coverage so I get all the other coverage add-ons that go with it. I call and gripe about it, went over all the details of the home and the lady acted like there isn't much that can be done. With the value that are putting on the replacement cost, my deductible is way too high, not to mention the premiums.

I plan to shop some, but can I expect the same from other insurance providers? Does any of the above sound "off" in your opinion?

Currently with SF, and I can't say anything bad about them.

You just did...sort of.

Don't forget that if you have a fire or tornado, it costs to remove all the damage before they can replace your house and household goods.

[Burnadell]

Sorry, I'm no help on the current cost of homeowners. I haven't checked mine in a while, and my house is not brand new.

[76aggie]

Replacement cost coverage is high as a cat's back with S.F. That is who I have and they are a good company. Just be sure you know what you are buying. Insurance is not all the same even with the same company. I know folks who bought on price point only and ended up with Actual Cost Value coverage or very limited coverage. Roof gets totaled, roof is depreciated plus your deductible and they scream about the crooked insurance company.

[CTR0022]

Yep, replacement cost policies are typically pretty high with all carriers.

You can save money with ACV policies.

Where is the house located?

[flywise]

Is the house a new build or just new to you?
New houses are cheap to insure compared to a 20 or 30 yr old house.
Replacement cost includes a Lot more than the note or house value. It cover a lot of different things. Really, of all your expenses a great value for what you get with a good policy

[Mudslinger]

Find an independent agent and let him do the shopping. I will pay more for a great policy if I know the agent will take care of me when the time comes. Been using the same agent/family business since 88 and will do till I pass. Never a problem.

[rlb28]

We'll shop it.

rb@best-ins.com

https://www.bestinsurancetx.com

[Mike]

I left State Farm for Farmer's and then left them for Farm Bureau. I had/have great agents that are personal friends with the last two. Farmer's just got too expensive for the coverage.

You have to shop the homeowners every few years as it starts creeping up. You have to realize that if you have a nice home that is priced in your range, the deductible is going to be high at 1% and it will be double for Hurricanes, maybe even fire and tornado as well.

Don't forget about flood insurance either.

[M16]

Its just a game they play to separate you from more of your money. Back in the day you told them how much coverage you wanted. Now they decide how much you need. They come out way ahead by over insuring everybody. I’ve been able to reduce my coverage a couple of times but they bounce it right back up the following year.

[tpack]

Farm Bureau or Germania have had the best prices on car and autos when I checked last year. Our new construction home in 2017 was lots cheaper that out 1983 home. I will probably switch to Farm Bureau when my policy lapses in October. State Farm has always been much higher when I check prices.