by RSOC » Tue Jan 15, 2008 06:23 pm
I am first-time homebuyer trying to research the costs involved in owning a home, and am trying to get information on the cost of homeowners insurance. Yet all the websites I have visited require an address to provide a quotation; a zip code and property value are insufficient. Does anyone know of a source for approximate homeowners insurance premium costs by area?
All of the guides I have read tell me that it's important to research all of the costs associated with owning a home, but some of them seem impossible to find!
All of the guides I have read tell me that it's important to research all of the costs associated with owning a home, but some of them seem impossible to find!
Posted: Tue Jan 15, 2008 06:46 pm Post Subject: Homeowners Insurace Quotes
RSOC,
Does anyone know of a source for approximate homeowners insurance premium costs by area?
Getting a "ballpark" estimate on any kind of property insurance, whether it be personal or business, is practically impossible.
There are so many variables, like:
(1) Replacement value of the home
(2) Protection Class (where the home is located in relationship to the nearest responding fire department)
(3) Special characteristics of the home (custom built cabinets, etc.)
(4) Type of roof
(5) Security systems
(6) Are there any animals?
(7) Swimming pool?
(8) Information about the homeowner
These are just a few. So, in answer to your question, no, there is no place I know where you can get a worthwhile quote for your homeowner's insurance without providing all the necessary information.
I have no idea where that smiley face came from and I can't seem to get it off.
Posted: Tue Jan 15, 2008 06:50 pm Post Subject: Follow-up
Thanks, unfortunately that is what I was beginning to realize.
A follow-up question. I know for condominium units, the structure insurance is usually included in the association fees. Is it possible to buy supplemental insurance if the owner of the unit believes the community's insurance in inadequate? Also, is the cost of insurance for possessions only for a condo unit owner similar to that for an equivalent rental insurance policy?
Posted: Wed Jan 16, 2008 07:41 am Post Subject:
Hi RSOC,
There are a good number of discussions regarding home insurance at the forums over here. I have also come across some good number of articles at the guide section. Why don't you try them out!
apple_cot
Posted: Wed Jan 16, 2008 07:45 am Post Subject: compare!
Hi!
The cost of insuring each articles under a Condo insurance would depend on the enlistment of the valuables with the carrier. Each valuable may fetch a different cost as per its value in the market. In comparison the renters insurance cost seems flat & uniform.
Thanks,
LesslieK
Posted: Wed Jan 16, 2008 10:29 am Post Subject:
Condo policys differ from homeowners and renters in several regards, one in particular they (condo) cover the 'inside' of the dwelling (generally) because that is what you own, like the carpet, and interior walls etc...a renters policy doesn't cover ANY part of the dwelling. re:supplemental coverage, I doubt it in the way you are referencing....but certainly wouldn't hurt to check....location location location, makes a huge difference in premium...that's why they will need the address....
Posted: Thu Jan 22, 2009 07:55 pm Post Subject: Homeowners Insurance
We completed very involved research when purchasing our first home and homeowners insurance. Our policy was purchased from Safeco. They were very helpful. Here is their website with more information.
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