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luckysmom
Yes it is! Going as planned:)
Member since 6/07 5339 total posts
Name:
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Those of you South of Sunrise in the Lindenhurst Area. Q about HO insurance
Around how much do you pay a year if you don't mind me asking. We were quoted about 1700 a year. That includes the entire purchase price of the house god forbid something happens and we need to rebuild, 170,000 for smoke, water, fire damage to anything in the house, and 500,000 personal Liability. I was told the further south you are from sunrise, the higher the insurance is. And our area is concidered a higher risk even though we are not ina flood zone. Is this a good price. Geico told us over 2,000 a year. Someone else told us about 13 but only covered 1/2 the purchase price of the house. TIA!
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Posted 1/8/09 12:49 PM  |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: Those of you South of Sunrise in the Lindenhurst Area. Q about HO insurance
NO! that's way high!
I pay $1100.00 a year (maybe 60.00 more than that, it just went up a tiny bit), i am on south 7th st. NORTH of montauk hwy, just south of hoffman.
If you want my insurance comapny it is NY Central Mutual...
call haller/zaremba - 516-746-2150, tell them rachel K. referred you.
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| Posted 1/8/09 4:33 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Those of you South of Sunrise in the Lindenhurst Area. Q about HO insurance
Is it normal to insure for the entire purchase price? I always thought it was the price to rebuild -- which would be much less than the purchase price. For that amount of insurance, it may not be so high -- but I would shop around.
I'd also want $1 million in liability (or I would purchase a separate umbrella policy for at least $1 million).
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| Posted 1/8/09 4:37 PM |
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Smileyd17
kids
Member since 5/05 20997 total posts
Name:
Mommy
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Re: Those of you South of Sunrise in the Lindenhurst Area. Q about HO insurance
Posted by Kara
Is it normal to insure for the entire purchase price? I always thought it was the price to rebuild -- which would be much less than the purchase price. For that amount of insurance, it may not be so high -- but I would shop around.
I'd also want $1 million in liability (or I would purchase a separate umbrella policy for at least $1 million).
Rebuilding Value should not be the purchase price.
It should be much less is right.
If you have an appraisal, it states the amt it should be around on page 4 or the company should evaluate it for you.
FM me if there are questions.
Rates is based on amt of coverage and territory.
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| Posted 1/8/09 4:44 PM |
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legallyblonde
LIF Adolescent
Member since 8/08 850 total posts
Name:
K
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Re: Those of you South of Sunrise in the Lindenhurst Area. Q about HO insurance
That seems high to me as well. We are South of Sunrise, east of Wellwood and ours is about $1,100 also.
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| Posted 1/8/09 6:08 PM |
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luckysmom
Yes it is! Going as planned:)
Member since 6/07 5339 total posts
Name:
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Re: Those of you South of Sunrise in the Lindenhurst Area. Q about HO insurance
Posted by Smileyd17
Posted by Kara
Is it normal to insure for the entire purchase price? I always thought it was the price to rebuild -- which would be much less than the purchase price. For that amount of insurance, it may not be so high -- but I would shop around.
I'd also want $1 million in liability (or I would purchase a separate umbrella policy for at least $1 million).
Rebuilding Value should not be the purchase price.
It should be much less is right.
If you have an appraisal, it states the amt it should be around on page 4 or the company should evaluate it for you.
FM me if there are questions.
Rates is based on amt of coverage and territory.
So if we don't have the full purchase price, god forbid something happens, and we can't rebuild, don't we still have to pay off our mtg? I am just really confused. We are very new to this and have no clue what we should be looking for. I gave DH all info to shop around at other places but i am just trying to understand this better.
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| Posted 1/8/09 6:28 PM |
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jen919ifer
LIF Adolescent
Member since 7/08 803 total posts
Name:
Jennifer
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Re: Those of you South of Sunrise in the Lindenhurst Area. Q about HO insurance
You insure for what it would cost to rebuild the structure of your home. the market value has land included in it, and you do not insure land since it does not burn. Your iinsurance agent would be able to let you know what you should be insuring your house for. FM me if you would like me to help you out since I am a broker.
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| Posted 1/8/09 8:03 PM |
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