Darn homeowners insurance coverage is jacked UP

[Camper292000]

Every year they automatically re-value our rental house WAY higher than it's worth. And to call them it's a huge deal to get it lowered. So....if I want to get a quote for 2 houses and 3 cars, who does the ODT brain think is best? Currently with Grange thru an independent agent.

The details.....a 4/3 house in marietta that's a rental....worth about 130-160 (the true value has to be in there somewhere!).
How the hell is this supposed to be covered for $223,900 for $1041? This is Dwelling Fire since it's a rental, no contents coverage. No previous claims, good credit.

They even state that behind the scenes they cover 125% of the 'coverage'.

 

[fotog54]

Replacement cost is greater than market value for many homes in your area. I'm in the same boat. Paid 111,000 bank sale house would cost 200,000 to rebuild if bunt to the ground.

 

[Camper292000]

Maybe they are insuring the dirt on the lot.

 

[webicknell]

I just switched from State Farm on 2 homes (one a rental) and Liberty Mutual on 3 cars to USAA for all...
Annual savings was about $6K a year

 

[Gimmeguns]

Can anyone get USAA or just service members?

 

[Sowega86]

Mine increased $80 over 2014's bill and I was told it was due to lots of hail damage across the state. The insurance commissioner may be able to slow the rate of increase, but looking back year over year, he hasn't taken any interest from my perspective.

 

[Camper292000]

I believe usaa is vet only. No peon civilians. Would love to get on it and both dad and step dad are vets but neither is on usaa

 

[tdi_g]

I left Liberty Mutual for USAA about 4 years ago (Dad is a vet) and just recently switched the cars back to Liberty Mutual after they offered way more coverage and about $40 less per month in premiums. I kept the Homeowners insurance at USAA though since it was cheaper. My rates for insurance on my house have only increased every year.

 

[dial1911]

That doesn't sound so bad.... I live in a 110+ year old house. I literally paid less than 80 grand for it... Now it's just about 3,000 sq ft with high ceilings and hardwood floors. It's got about 900 sq ft of porch with really decorative hand rail and columns (which are in 110 year old condition by the way- not too good).

Three different insurance companies have told me the replacement cost is over $350,000. I pay about $1200 a year for insurance.

 

[Jeddak]

Try American Family. They kept our rates mostly flat for the last several years. I shop around at every renewal, and they are still lower than others. Have house and car thru them.