Home Insurance Deductible?
- Thread starter mountainsoft
- Start date
Our HO deductible is $9,600, a % of home value. When we insured the home 20+ years ago, the deductible was $3K but our premium went through the roof about 5 years ago and we upped it to get the premium back to a reasonable amount.
CincyDave
Thinks s/he gets paid by the post
Mine is 1% of home value with State Farm.
Bamaman
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Many companies don't even want homeowners coverage--unless they have your car insurance.
We owned my daughter's home and had a very expensive bicycle and ATV stolen--$5K. Three years later, our main home was hit with a major burglary. Essurance treated us with total disrespect--getting a "fraud" investigator in on the claim.
We moved 65 miles a year ago and went to get insurance and we were quoted rates double normal rates. Come to find out, Lexus/Nexus (and other companies) have a risk rating score that insurance companies base rates on. Two claims in 3 years, and look for insurance prices to go out of sight.
Fortunately, we got homeowners' insurance on the new house for $2400 a year with a company I had insurance with many years ago. Note: The insurance rating companies are covered under the Fair Credit Reporting Act where you can get copies of their information yearly. They also keep records on driving infractions and wrecks for use in automobile policy risk guidance.
We owned my daughter's home and had a very expensive bicycle and ATV stolen--$5K. Three years later, our main home was hit with a major burglary. Essurance treated us with total disrespect--getting a "fraud" investigator in on the claim.
We moved 65 miles a year ago and went to get insurance and we were quoted rates double normal rates. Come to find out, Lexus/Nexus (and other companies) have a risk rating score that insurance companies base rates on. Two claims in 3 years, and look for insurance prices to go out of sight.
Fortunately, we got homeowners' insurance on the new house for $2400 a year with a company I had insurance with many years ago. Note: The insurance rating companies are covered under the Fair Credit Reporting Act where you can get copies of their information yearly. They also keep records on driving infractions and wrecks for use in automobile policy risk guidance.
Sunset
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I have all my insurance with 1 company, so that I'll max the supposedly good multiple policy discount.
When needed I shop the entire set around to see if I can get a much better rate.
When needed I shop the entire set around to see if I can get a much better rate.
Surewhitey
Thinks s/he gets paid by the post
We've had 2 claims in 15 years of home ownership. If we had saved $200/yr, we would have had $3k additional. 2 deductible (difference) would have been likely the same cost as savings, so I don't sweat the details any more.
One thing some do is insure the value of the home, including property. This is something we choose to reduce for the structure only as a complete loss would leave us the land. So we reduce costs this way. We do carry replacement value, though. Wife is in insurance biz...
Our losses were a water heater leak doing floor damage ($9k) & recently a roof after a big TX storm ($7-8k). Both a 1% deductible ($1700). Recently TX enacted a law that made illegal the roofing company to "include" your deductible. We apparently got a generous roofer as we paid <$100 for roof & gutters in the end.
We pay <$1k annually.
One thing some do is insure the value of the home, including property. This is something we choose to reduce for the structure only as a complete loss would leave us the land. So we reduce costs this way. We do carry replacement value, though. Wife is in insurance biz...
Our losses were a water heater leak doing floor damage ($9k) & recently a roof after a big TX storm ($7-8k). Both a 1% deductible ($1700). Recently TX enacted a law that made illegal the roofing company to "include" your deductible. We apparently got a generous roofer as we paid <$100 for roof & gutters in the end.
We pay <$1k annually.
