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Author Topic: Insurance... Am I Paying Too Much?  (Read 3544 times)

Offline agkatz

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Insurance... Am I Paying Too Much?
« on: August 29, 2003, 10:20:14 am »
Am I paying too much?

The house is insured for $60K.  It's got $1K toward personal property and $100K liability.  Farmer's is charging me $1,099 for this.  (I'm in Texas).

Am I paying way too much, or is this in line with what y'all pay?
"... Just by placing hundreds of tiny, classified ads from my little one-bedroom apartment," Don Lapre.

Offline tedjr

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Insurance
« Reply #1 on: August 29, 2003, 10:52:31 am »
Way too much for your coverage. I just got quotes on my house $250,000 on the house and $50,000 contents and $100,000 liability for  $647 per year. I got other quotes and three from Allstate were $700, $1200 and $2400.  The one I choose is a Farmers Agent but writes for others as well. His contact info is below.
 
Michael Sanders, Insurance Agent
Office Phone: 512-458-1448
Pager: 512-490-8389
Office Fax: 512-458-4120
www.sandersins.com

good luck
« Last Edit: February 16, 2005, 11:39:44 pm by tedjr »
Ted P. Stokely Jr

San Antonio, Texas

Offline agkatz

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That's an...
« Reply #2 on: August 29, 2003, 02:35:34 pm »
That's an owner-occupied though, right?

These are tenant occupied.  I need to compare apples to apples.  

Anybody else?
"... Just by placing hundreds of tiny, classified ads from my little one-bedroom apartment," Don Lapre.

Offline Admin

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probably so..
« Reply #3 on: August 30, 2003, 01:22:13 pm »
Adam,
I'd make some more calls - sounds high to me :cuss , but I don't know all the particulars.

http://www.texasrealestateclub.com/forums/phpBB2/viewtopic.php?t=117
There's Only Two Things in Life: Reasons and Results.  Reasons don't count.  - Anonymous

Offline KW3

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Insurance advice
« Reply #4 on: September 21, 2003, 09:01:20 am »
My insurance guy quoted me $266 on a $92K rental property I'm buying.  I can't find anyone who can even touch that rate.  (Farmers was the 2nd lowest at $497.)

He also suggested I add a $25 endorsement to my personal home insurance (HO-A) that will extend the $300K liability on my home to any rental properties I own.  I believe the endorsement # is 225 or 255.

Also, will be purchasing a $1 million umbrella policy for $199. Farmers was the best rate I could find on that coverage.  

Hope this is helpful.
« Last Edit: February 17, 2005, 08:53:29 am by TRandle »

Offline chizz54

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Re:Insurance... Am I Paying Too Much?
« Reply #5 on: February 16, 2005, 07:39:27 pm »
hi
     i am new to rehabing and my husband and i have bought our first rehab last month. we're in central nj and our insurance is way high. it is more than double for 6 months than our home we live in is for the year.. the agent said it's because it is vacant. any advise on insurance for rehab?

               thanks
                     janet

Offline handyman1977pa

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Re:Insurance... Am I Paying Too Much?
« Reply #6 on: February 18, 2005, 02:59:18 pm »
I had a 2 unit rental I paid 406.00 a year for 125,000 coverage. My policy was through erie insurance and I live in pa. I have house insurance with allstate now coverage is 160,000 and I pay 250 a year. Not sure if it helps or not.

 




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