Posts tagged "Insurance Rates"

Home Owner Insurance Company Rates And Quotes

When you purchase a home owner insurance policy, you want to shop around for the home owner insurance company with the best rates and quotes for you, your home, its contents, and all of your precious valuables. However, as you are shopping, you want to look at more than just the rates and quotes a home owner insurance company can offer you. Because of this, you may end up with a higher quote and rate than you would if you purchased minimal coverage. Since you might end up paying more, you want to make sure the home owner insurance company you eventually choose to do business with can hold up its end of the bargain – provide you with the coverage you pay for.

There are three ways to help you trust a home owner insurance company, and all three ways boil down to one idea – thoroughly research the company.

Find out if the home owner insurance company is licensed to do business in your state. If a home owner insurance company isn’t licensed to business in your state, they should not try to offer you home owner insurance policy quotes and rates. Should you purchase a policy from them and later try to file a claim, there could be complications.

Find out the financial rating of the home owner insurance company. Third-party independent research companies do some of the research for you and provide unbiased financial ratings of home owner insurance companies.

Find out information about complaints that have been filed against the home owner insurance company. Look for patterns in complaints that have been filed, and find out how complaints have been handled. Do not expect 100% of the customers to be 100% happy 100% of the time, but do expect complaints against the home owner insurance company to be handled in a timely, and satisfactorily, manner.

Your state’s insurance department can help you with all of this information.

Elizabeth Newberry
http://www.articlesbase.com/finance-articles/home-owner-insurance-company-rates-and-quotes-81955.html

Would a theft claim increase my homeowners insurance premium?

About $900 worth of stuff have been stolen from our garage and I would like to file a claim under my homeowners insurance (which covers contents). Do you think that filing a claim for theft would increase my insurance premiums?

Most likely it will increase your premiums, although not always. It depends on how your insurance company rates policies. Call your agent and check what your deductible would be. If your deductible is more than the value of what was stolen, then don’t even bother filing the claim because you won’t get anything anyway.

For most of my clients that have theft claims under $1000 (after deductibles0, I usually recommend they not file a claim unless they absolutely need/want to. Having a theft claim on your claims history report can make companies apprehensive about accepting you as an insured and often times results in larger premiums. I had a client once who told me that it wasn’t fair that the company increase his rate by 30% because he filed a $400 theft claim. And I agree with him, but insurance companies often times don’t look at the dollar amount paid (unless it’s a $0 paid claim). They look at how many claims you filed.

The same client filed a $400 theft claim ($1400 total loss – $1000 deductible) and when he got his renewal policy in the mail, his rate increased from about $1000 a year to $1300 a year. Needless to say, he was a bit upset and I don’t blame them.

My recommendation is to use your insurance policy for the major things and not for minor losses. But I would make sure to speak with your agent first and advise him/her. Good luck.

How does a home security system affect your insurance rates?

Any advice, negative or positive, would be nice.

We’re considering it, and we’re meeting with the guy who would put it in tomorrow.

How much did you pay?
Is it worth it?
How was your home insurance affected?

I don’t know what things are like where you live, however here (Vancouver, BC, Canada) most insurance companies give up to 20% off depending on the protection you have. The better the system the less risk of loss hense lower rates.

Things which can effect your discount are whether all the windows and doors are contacted, motion detectors, pre-entry protection (Glassbreaks) and of course smoke detectors and sometimes you may get an even higher discount if you have line cut protection. You really should be contacting your insurance company for the specifics.

Many insurance companies will not give you a discount if the system is not monitored, some will. The thing is, an alarm system is about more than just the insurance discount, if you do not see the value of a security system, the peace of mind and freedom it can provide, then maybe you should consider window bars.

As for what a system should cost, well that all depends on the scope of protection, the size of your home and the difficulty of the installation. I would highly recommend staying away from a wireless system. If the sales person tries to tell you they are better than hardwire…. chase him / her out of the house… just my professional opinion. A good hardwired system should range around $ 1,200 upwards. If you have a really small house then you may be able to get it for around $ 900 but that is pretty small. An apartment might be around 350 to 500.

I have written a number of articles on security, both electronic and physical. You can find them on my website at http://www.keepsafesystems.ca. You would probably be interested in Protection 101, false alarm info and one on the truth about wireless security (It is in the archive)

Good luck, whatever you do, do not let the sales person talk you into something you do not feel comfortable with.

Orlando Condo Insurance Rates?

I am starting to look at condos and townhouses in the Orlando/Sanford area and am trying to figure out my budget for what I can afford. Does anyone know a ballpark rate for condo insurance in this area that I can use for planning? I know generally this is covered in the HOA dues, but the bank may require additional coverage. Also, does anyone know what the ballpark rate is for single family homes in case I peruse that path?

home insurance covers lots of different things. I don’t understand all the fine print of my policy, but my homeowners insurance agent is always helpful. Try visting your agent or a agent in your town. http://www.goodinternetdeals.com/Home-Insurance.html They will be able to assist you.

How much does homeowners insurance cost in Nassau County, NY?

I’m just starting to look at purchasing my first home and need to understand even a basic range of cost for yearly homeowners insurance for budgeting purposes.
Without having a specific property in mind to request a rate for, is there any place I can see average or median homeowners insurance rates?

I’m looking at homes in good condition for under $375,000 purchase price.

I live in Nassau county (Hicksville) and pay $1,025 per year for $275,000 of building coverage as well as the liability and all the other bells and whistles. Expect to pay anywhere from $800-$1500+. Rates go by the amount of building coverage (in dollars) as well as the area of the home (square feet). The higher the value (and larger the area) the higher the premium will be. You’re credit will also be a factor. Also, brick houses are a little cheaper (not as combustible) and so are newer houses.
Good luck!