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Pumpkin1
LIF Adult
Member since 12/05 3715 total posts
Name:
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Homeowners' Insurance: Low quote?
I just got a quote for homeowners insurance for a 4BR, 2 bath home in Wantagh for $505, which includes multi-policy discounts and alumni discount. Is that really low?
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Posted 5/31/07 4:49 PM  |
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mommy2Alex
3 babies for me :)
Member since 5/05 6683 total posts
Name:
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Re: Homeowners' Insurance: Low quote?
I have been shopping around and that sounds very low. Do you know the specifics of the policy such as liability coverage, replacement costs, etc.?
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| Posted 5/31/07 5:13 PM |
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cjik
Welcome 2010!
Member since 2/06 8879 total posts
Name:
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Re: Homeowners' Insurance: Low quote?
What does this cover? Did this include liability also?
This sounds very low for a 4-bdrm. house to me.
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| Posted 5/31/07 5:53 PM |
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NJmom
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Member since 8/05 4987 total posts
Name:
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Re: Homeowners' Insurance: Low quote?
that sounds really low. you should check the limits on the policy and also your deductibles to be safe.
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| Posted 5/31/07 6:25 PM |
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Pumpkin1
LIF Adult
Member since 12/05 3715 total posts
Name:
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Re: Homeowners' Insurance: Low quote?
Here are the details:
Replacement dwelling: $206K
Other structures: $20K
Personal property: $154K
Liability: $300K
Medical: $1K
1K deductible
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| Posted 5/31/07 7:21 PM |
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mommy2Alex
3 babies for me :)
Member since 5/05 6683 total posts
Name:
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Re: Homeowners' Insurance: Low quote?
Posted by Pumpkin1
Here are the details:
Replacement dwelling: $206K
Other structures: $20K
Personal property: $154K
Liability: $300K
Medical: $1K
1K deductible
Replacement seems low. It usually costs about $125-$150/sq foot to build. If you know the sq ftg of your house you should be able see if $206 would cover it.
Liability is low, I wouldn't go with less than 500K, medical is also low. Most of my quotes included 5K in medical and 500K in liability.
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| Posted 5/31/07 7:28 PM |
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Pumpkin1
LIF Adult
Member since 12/05 3715 total posts
Name:
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Re: Homeowners' Insurance: Low quote?
Posted by mommy2Alex
Posted by Pumpkin1
Here are the details:
Replacement dwelling: $206K
Other structures: $20K
Personal property: $154K
Liability: $300K
Medical: $1K
1K deductible
Replacement seems low. It usually costs about $125-$150/sq foot to build. If you know the sq ftg of your house you should be able see if $206 would cover it.
Liability is low, I wouldn't go with less than 500K, medical is also low. Most of my quotes included 5K in medical and 500K in liability.
Thank you, I did not know this.
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| Posted 5/31/07 7:44 PM |
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ckone
LIF Adult
Member since 8/06 3014 total posts
Name:
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Re: Homeowners' Insurance: Low quote?
We were quotes $725 for a 4 bedroom /1 bath cape in East Meadow and $1700 from another company. I think that $505 sounds low but, we don't have the multi policy discount. I would double check what included.
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| Posted 5/31/07 9:04 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Homeowners' Insurance: Low quote?
I would increase the liability to $500K.
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| Posted 5/31/07 9:34 PM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: Homeowners' Insurance: Low quote?
Mine was in the $700-$800 range and we have a 3 bedroom 1 1/2 bath in sayville.
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| Posted 5/31/07 10:23 PM |
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cjik
Welcome 2010!
Member since 2/06 8879 total posts
Name:
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Re: Homeowners' Insurance: Low quote?
Ask them in you can increase your liability--this does seem very low. The quotes I got were all fro $500,000. We upped this to $1 million by paying $25 more--seemed worth it.
I would definitely see if you need to increase your home covereage also. This quote is low.
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| Posted 6/1/07 1:53 PM |
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