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The Cost of Homeowner's Insurance

Price 
Location 
Submitted by  
Description
$ 1362
Jul 2007
Mississippi
8 year old home, 1665 sq. ft.
Comprehensive homeowner's coverage  more... close row
$ 28
Jun 2007
marana, az
new home 2400sq. ft. 4 bed
Insurance for our new home  more... close row
$ 940
Mar 2008
Rainbow City, AL
6 years old; 2200 square feet
Insurance paid through mortgage holder  more... close row
$ 400
Jan 2008
Phoenix, AZ
2500 square feet, built 1982
Liability, damage and theft coverage  more... close row
$ 477
Feb 2008
Long Beach, CA
57 years, approximately 1200 sq ft
Annual homeowners' policy premium  more... close row
$ 420
Nov 2007
Indianapolis, IN
15 years old, 1950 sq. feet
Property, home and liability insurance  more... close row

Description of service

The premium of $420 includes $257,000 coverage on the dwelling, $162,000 coverage on personal property, $75,000 for loss of use, $300,000 personal liability coverage, and the minimum medical payment coverage allowed by law. There is a $1000 deductible and the premium reflects a $28 credit for an active security system protecting the house.


Review of Service

I shopped around online annd by talking to friends and the premium I am paying is reasonable and comparable to rates from other companies. I have been satisfied with the service and the price because the insurance company has made adjustments that are based on the decline in home values in my area and they have been responsive to all of my questions about the coverage. I have not had any claims but the representative on the phone when I purchased the policy was very helpful and asked questions to help me find the right policy limits and keep the cost at an affordable level. Also, they are available 24 hours a day to take calls and accept monthly payments.


Tips

The best tip that I was given and can pass along is to raise your deductible to a level that is higher but still manageable. It makes a big difference if you increase it from $250 or $500 to $1000 and, unlike auto coverage, it is generally unlikely that you will have a small claim on your homeowner's policy.


$ 294
Sep 2007
San Jose, CA
20 years old, approx. 1000 sq ft
Annual premiums for insuring a condo  more... close row
$ 457
Mar 2008
grundy va
2006 southern estates mobile home with 2446 square feet.
New homeowners insurance with same coverage  more... close row
$ 1021
Mar 2008
Garland, TX
29 years old and 1550 sq ft.
Homeowners insurance doesn't cover many things  more... close row
$ 1211
Mar 2008
Boiling Springs, SC
Coverage for home with a pool  more... close row