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Joe H

What are you paying for auto and homeowners insurance?

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Just trying to do some budget cutting because I think I'm paying too much, especially for auto, not so much for homeowners. I know there's a lot of variables like coverage amount/deductible/state you live in/etc.

 

I'm in New Jersey and for a 2004 Windstar full coverage and 1996 Explorer liability only with $100K property $250K injury/medical with $500 deductible, two clean driving records we're married with kids and homeowners(one accident we were hit by drunken driver) we're paying $2,225 a year with Travelers

 

For homeowners $500K in coverage and also $1 million umbrella policy for $833 with $500 deductible. This is with FMI.

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Impossible today to compare what one person pays next to the other. Too many variables at hand, and most specifically, credit scoring.

 

You and I could have the same exact house next door to one an other with the same exact coverage and pay different rates due to our credit scores.

 

One thing you can do is consider putting the whole package with the same company to get the auto/home discount.

 

Buuuuut....at the end of the day, keep in mind, there is ALWAYS going to be someone cheaper out there.

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do a little research. it's usually cheaper if you have both homeowner's and car insurance with the same company. I'm paying 2700 a year for 2 cars with full coverage and homeowners.

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View PostImpossible today to compare what one person pays next to the other. Too many variables at hand, and most specifically, credit scoring.

 

You and I could have the same exact house next door to one an other with the same exact coverage and pay different rates due to our credit scores.

 

One thing you can do is consider putting the whole package with the same company to get the auto/home discount.

 

Buuuuut....at the end of the day, keep in mind, there is ALWAYS going to be someone cheaper out there.

 

Yup always something cheaper. Is it going to be better? Tough to say without seeing the docs but probably not. You want to build a relationship with someone you can trust. I would stay away from most of the big national companies a lot of them have bad reps regarding claims.

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I'm paying $1400/year for homeowners' through the FAIR plan, Massachusetts' high risk pool. I live in a coastal flood/high wind risk area even though my house is 76' above sea level and 3 miles from the nearest body of tidewater. All of Barnstable County has been dropped by private carriers. I live 200 yards from the county line, and on the other side I would have no problem getting a private policy--it's the huge windbreak they must have erected somewhere that drops hurricane force winds to gale level kooky.gif

 

Car insurance is $1800 for 3 cars, with only one having full coverage. There's one minor fender bender that accounts for the $400 surcharge.

 

Of course, on the other side of that county line, my property taxes would be another $1000/year so I'm ahead of the game, I guess.

 

I can't bundle through a single carrier, obviously.

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View Postraise your deductible to $1,000 if you have that in a savings account.

 

consider the extra $500 your own insurance

 

 

Thats gonna save less than 50 bones. The best thing to do is find a broker who has multiple markets and have them quote them all. Things are rated different by every company, and unless they all bid for the account you wont know what fits you the best. On a side note I re-wrote my own insurance away from Travelers in PA and saved 800+.

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View PostI would stay away from most of the big national companies a lot of them have bad reps regarding claims.

 

Travelers is a big national company with a good reputation.

 

I'd personally stay away from the national Direct Writers, like Geico. But that's me.

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I knew credit is involved too, last I checked we were both in the low 800's. I know insurance is not something you want to bargain shop for because service is a factor when you actually have to use it. Anyone use NJ Manufacturers? My sister who is bargain shopper/educated consumer extraordinaire recommended them. We can get our insurance through them I think with a discount through my wife's employer.

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View PostTravelers is a big national company with a good reputation.

 

I'd personally stay away from the national Direct Writers, like Geico. But that's me.

 

Yeah I like Travelers but what I meant was geico/prorgessive types travelers is on a higher level then them. I write with Travelers and like them.

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