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Home Insurance?

Home Insurance?

Old Mar 1st 2005, 8:02 pm
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Default Home Insurance?

I'm in California and am trying to obtain fire and theft insurance for my house and contents and would appreciate some advice.

I've been quoted over $1,100 for coverage as follows: $215,000 structure, $300,000 liability and $16,800 personal property. Deductables = $500.

Compared to what I used to pay in the UK, this seems very, very expensive, especially when accidental damage/valuables is not included, and $16,800 is not anywhere near enough to cover all our possessions. I wonder whether that is just how it is in the US, or whether perhaps there are cheaper alternatives and I just have not found them?
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Old Mar 1st 2005, 8:13 pm
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Default Re: Home Insurance?

Originally Posted by Guelder Rose
I'm in California and am trying to obtain fire and theft insurance for my house and contents and would appreciate some advice.

I've been quoted over $1,100 for coverage as follows: $215,000 structure, $300,000 liability and $16,800 personal property. Deductables = $500.

Compared to what I used to pay in the UK, this seems very, very expensive, especially when accidental damage/valuables is not included, and $16,800 is not anywhere near enough to cover all our possessions. I wonder whether that is just how it is in the US, or whether perhaps there are cheaper alternatives and I just have not found them?
ok couple of things
California does seem to have earthquakes, the UK doesn't.
California has wildfires / mud slides the UK hardly ever does.

Usually coverage B, (personal property) is about 80% of coverage A (dwelling)
hence $16,000 isn't right.

300,000 liability is par for the course.

and as for cheaper alternatives, I reckon $1,100 is about right for a homeowners policy in CA, although be aware that earthquake coverage is a percentage deductible and your $500 will not apply in the event of an earthquake claim.

Also be aware that in the UK the insurance co, doesn't attain any medical risks that arise from a liability claim. Here they do as there is no NHS.

But it always does no harm to shop around.
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Old Mar 1st 2005, 8:13 pm
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Default Re: Home Insurance?

Seems a little bit steep, but then again you are in California. Have you tried the same firm that does your car insurance? They'll typically discount your car policy if you have home insurance with them.
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Old Mar 1st 2005, 8:14 pm
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Default Re: Home Insurance?

Does it include Earthquake, it should. This is a costly item, probably mud slides as well judging from the news recently.

Personal lines insurance is state specific and the distribution systems are antiquated compared to the UK. Our cover was similar in price to the UK market but it would be like us comparing UK with France.

All I can suggest is to shop around.
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Old Mar 1st 2005, 8:16 pm
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Default Re: Home Insurance?

Also consider...........

If your home were to up in smoke. $90 per month to insure isn't that bad considering a total loss would re-coup you upto nearly $300,000
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Old Mar 1st 2005, 8:17 pm
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Wow!! $1100 ..that a bargain... I would like to pay that ...
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Old Mar 1st 2005, 8:19 pm
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Default Re: Home Insurance?

Originally Posted by Manc
ok couple of things
California does seem to have earthquakes, the UK doesn't.
California has wildfires / mud slides the UK hardly ever does.

.
Forgot to add that the quote received did not include any coverage for earthquakes or flooding.
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Old Mar 1st 2005, 8:24 pm
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Default Re: Home Insurance?

Originally Posted by Ray
Wow!! $1100 ..that a bargain... I would like to pay that ...

Well, I'm used to paying a lot less than that for a whole lot more coverage! I haven't even tried to get a quote for the real value of contents, accidental damage or cover for valuables in and out of the home (which is what I had in the UK) as I really doubt it would be affordable. And there is zero coverage for earthquakes or flooding, so I really don't see $1,100 as a bargain, though I realise it is just a case of what you are used to.
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Old Mar 1st 2005, 8:27 pm
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Default Re: Home Insurance?

Originally Posted by AdobePinon
Seems a little bit steep, but then again you are in California. Have you tried the same firm that does your car insurance? They'll typically discount your car policy if you have home insurance with them.
Haven't tried that yet, but will give it a go - thanks.
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Old Mar 1st 2005, 8:28 pm
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Default Re: Home Insurance?

Originally Posted by Guelder Rose
Well, I'm used to paying a lot less than that for a whole lot more coverage! I haven't even tried to get a quote for the real value of contents, accidental damage or cover for valuables in and out of the home (which is what I had in the UK) as really doubt it would be affordable. And there is zero coverage for earthquakes or flooding, so I really don't see $1,100 as a bargain, though I realise it is just a case of what you are used to.
Flooding is extra to ours also ... Our biggest problem in FLA is finding companies who want the business ... every hurricane a few more drop out...
Last years hurricanes put 3 out of business ..and even the States ..insurance of last resort is putting up their rates by 90% in some areas for next year...
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Old Mar 1st 2005, 8:36 pm
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Default Re: Home Insurance?

Originally Posted by Guelder Rose
I'm in California and am trying to obtain fire and theft insurance for my house and contents and would appreciate some advice.

I've been quoted over $1,100 for coverage as follows: $215,000 structure, $300,000 liability and $16,800 personal property. Deductables = $500.

Compared to what I used to pay in the UK, this seems very, very expensive, especially when accidental damage/valuables is not included, and $16,800 is not anywhere near enough to cover all our possessions. I wonder whether that is just how it is in the US, or whether perhaps there are cheaper alternatives and I just have not found them?
Daft to compare insurance prices in the US against prices in the UK. Different country, different hazards... So, hardly like with like.




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Old Mar 1st 2005, 8:37 pm
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Default Re: Home Insurance?

Originally Posted by Guelder Rose
I'm in California and am trying to obtain fire and theft insurance for my house and contents and would appreciate some advice.

I've been quoted over $1,100 for coverage as follows: $215,000 structure, $300,000 liability and $16,800 personal property. Deductables = $500.

Compared to what I used to pay in the UK, this seems very, very expensive, especially when accidental damage/valuables is not included, and $16,800 is not anywhere near enough to cover all our possessions. I wonder whether that is just how it is in the US, or whether perhaps there are cheaper alternatives and I just have not found them?
Also, your home mortgage may require you to get flood and earthquake insurance. Have you checked?




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Old Mar 1st 2005, 8:37 pm
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Default Re: Home Insurance?

Originally Posted by Ray
Flooding is extra to ours also ... Our biggest problem in FLA is finding companies who want the business ... every hurricane a few more drop out...
Last years hurricanes put 3 out of business ..and even the States ..insurance of last resort is putting up their rates by 90% in some areas for next year...

Just wondering whether this is correct? I was told that with, say, vehicle insurance you can never really be totally covered. The impression I was given was that you could get a certain level of coverage, but if someone sued you after a bad accident you could still wind up losing your home. Maybe this has something to do with medical not being free over here?

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Old Mar 1st 2005, 8:40 pm
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Default Re: Home Insurance?

Originally Posted by NC Penguin
Daft to compare insurance prices in the US against prices in the UK. Different country, different hazards... So, hardly like with like.

NC Penguin
Yes, wrong to compare in that way, I was just thinking about how affordable insurance was in the UK and didn't really expect it to be so expensive here in the US, even with the different hazards. Just a case of what I'm used to and what I'm now trying to get used to, if you know what I mean?
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Old Mar 1st 2005, 8:42 pm
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Default Re: Home Insurance?

Originally Posted by NC Penguin
Also, your home mortgage may require you to get flood and earthquake insurance. Have you checked?
NC Penguin
Jeez, no I haven't ... just blindly calling insurance agents and asking for quotes with them telling me what is included and what isn't! Not one of them asked about the mortgage, so I will check that out.
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