Good grief that is high. What does it include? Be sure to compare apples to apples. All lenders require is fire and extended coverage. You can add liability coverage to your home policy for a few hundred per year. Check with some local non profit farm mutual companies. I got 5 quotes on line once from the same company ranging from $2500 per year to less than $700. SAME COMPANY did you hear that SAME COMPANY Shop around
You get that for which you pay. If you want "cheap" coverage, expect "cheap" protection. It is difficult, if not impossible, to compare insurance situations in different areas, let alone different states. Many variables determine the rate. Insurers consider things such as: construction, age, credit history, fire protection-class, claims history (you and the property), etc., etc., etc...
Also, be wary if you extend your liability coverage from your home. You put not only your personal insurance at risk, but also your personal assets.
Check into a higher deductible, say $2500 or even $5000. Use the deductible as a cost-savings mechanism, not denying or shortchanging the policy itself (and potentially you in the process).
The best rate usually doesn't equate to the best, or even the proper, coverage. Work with an Agent that is famiiliar with the REI profession, Independent or not.
[ Edited by norrist on Date 12/11/2003 ][ Edited by norrist on Date 12/11/2003 ]
Right! Quite often insurance companies have price tiers - the only difference between the tiers is the commission the agent/agency receives. So agency A quotes you high, agency B wuotes a lower premium, and Agency C still lower yet - and all three quotes turn out to be the same policy from the same company. Agency C made the decision to place you in their best tier, and forego a bigger commission in order to get your business.
Quote:
On 2003-12-11 14:54, Tedjr wrote:
Good grief that is high. What does it include? Be sure to compare apples to apples. All lenders require is fire and extended coverage. You can add liability coverage to your home policy for a few hundred per year. Check with some local non profit farm mutual companies. I got 5 quotes on line once from the same company ranging from $2500 per year to less than $700. SAME COMPANY did you hear that SAME COMPANY Shop around
May be a little high but it is a quad. Call for more quotes and press the agent that gave you the original quote.
Good grief that is high. What does it include? Be sure to compare apples to apples. All lenders require is fire and extended coverage. You can add liability coverage to your home policy for a few hundred per year. Check with some local non profit farm mutual companies. I got 5 quotes on line once from the same company ranging from $2500 per year to less than $700. SAME COMPANY did you hear that SAME COMPANY Shop around
Good LUCK and HAPPY HOLIDAYS
Hope this helps some
Ted Jr
Just my 2 cents...
You get that for which you pay. If you want "cheap" coverage, expect "cheap" protection. It is difficult, if not impossible, to compare insurance situations in different areas, let alone different states. Many variables determine the rate. Insurers consider things such as: construction, age, credit history, fire protection-class, claims history (you and the property), etc., etc., etc...
Also, be wary if you extend your liability coverage from your home. You put not only your personal insurance at risk, but also your personal assets.
Check into a higher deductible, say $2500 or even $5000. Use the deductible as a cost-savings mechanism, not denying or shortchanging the policy itself (and potentially you in the process).
The best rate usually doesn't equate to the best, or even the proper, coverage. Work with an Agent that is famiiliar with the REI profession, Independent or not.
[ Edited by norrist on Date 12/11/2003 ][ Edited by norrist on Date 12/11/2003 ]
Right! Quite often insurance companies have price tiers - the only difference between the tiers is the commission the agent/agency receives. So agency A quotes you high, agency B wuotes a lower premium, and Agency C still lower yet - and all three quotes turn out to be the same policy from the same company. Agency C made the decision to place you in their best tier, and forego a bigger commission in order to get your business.
Quote:
On 2003-12-11 14:54, Tedjr wrote:
Good grief that is high. What does it include? Be sure to compare apples to apples. All lenders require is fire and extended coverage. You can add liability coverage to your home policy for a few hundred per year. Check with some local non profit farm mutual companies. I got 5 quotes on line once from the same company ranging from $2500 per year to less than $700. SAME COMPANY did you hear that SAME COMPANY Shop around
Good LUCK and HAPPY HOLIDAYS
Hope this helps some
Ted Jr