unallowable
Dryer sheet aficionado
- Joined
- Jul 1, 2008
- Messages
- 39
I have a situation where I am paying out the nose for insurance coverage and wondered if anyone had a suggestion. I am working and can afford it now but in 15 months I will retire - and will be a big hit each month.
2 days ago I closed the purchase of a small stilt house on a river near where I live. It is in a flood zone, the structure is wood and nothing fancy, the primary value is the 1.75 acres with over 300ft of waterfront.
I have all my coverage with Farm Bureau Ins. Recently rolled auto ins. into existing coverage on primary residence, 2 rentals (plan to sell one when I retire) and umbrella policy. Thought there would be an advantage (discount?) in giving them all my business.
The coverage amount (not the flood insurance part) on the river place is more than twice the appraised amount. And just yesterday I received notice they were increasing the coverage amount on my primary residence by $60K with corresponding increases on contents, etc. This too is more than the appraised value of the entire property (this appraisal includes 3 acres that would never be a replacement cost). Can they just arbitrarily do this?
I also am paying max. coverage on my autos (one 1999, one 2009) even tho I have clean driving record. Was told they had to do that for me to have the umbrella policy. Any of you with umbrella policy told this? I plan to address all this with them but thought would run it by this forum first. Thanks,
2 days ago I closed the purchase of a small stilt house on a river near where I live. It is in a flood zone, the structure is wood and nothing fancy, the primary value is the 1.75 acres with over 300ft of waterfront.
I have all my coverage with Farm Bureau Ins. Recently rolled auto ins. into existing coverage on primary residence, 2 rentals (plan to sell one when I retire) and umbrella policy. Thought there would be an advantage (discount?) in giving them all my business.
The coverage amount (not the flood insurance part) on the river place is more than twice the appraised amount. And just yesterday I received notice they were increasing the coverage amount on my primary residence by $60K with corresponding increases on contents, etc. This too is more than the appraised value of the entire property (this appraisal includes 3 acres that would never be a replacement cost). Can they just arbitrarily do this?
I also am paying max. coverage on my autos (one 1999, one 2009) even tho I have clean driving record. Was told they had to do that for me to have the umbrella policy. Any of you with umbrella policy told this? I plan to address all this with them but thought would run it by this forum first. Thanks,