Homeowner's Insurance?

[Surveyor1653]

We have SF also, but are going to be reviewing all of our policies in the next couple of months. Not because of anything they have/haven't done but because I want to know we're getting our money's worth. A friend of mine (and member here) had his house catch fire a couple of months ago. They have Farmers and they couldn't be happier with how they were treated, as well as what their policy provided. So, we're going to be giving Farmers a look.

 

[n423]

We have Liberty Mutual for 4 years and rates keep going up. Going to shop next year. I think they all quote low rates to get ya hooked IMO. We had Farmers until their rates doubled after 1 year w/no claims filed.


Had Okla Farm Bureau and they paid on a roof .Great company but they wouldn't let us renew. I am checking out AAA next. Hate to switch companies.

 

[FullAuto]

Just because it's a company name you've heard of, doesn't mean all the policies are the same. That higher replacement cost number won't mean anything if your loss isn't covered.

 

[stick4]

The hail claims have been more costly than the tornado claims.

This has been my pet peeve for many years. My addition is full of homes with 3,4 and even a 5 car garage but 75% of the residents leave their cars outside whenever they're home. If ppl would just park inside, all our car ins rates would go down. Connect the damn dots folks.

 

[dennishoddy]

Had State Farm for many years, with no issues, but we are 500 yds or so too far away from a fire hydrant, so they won't insure us. Went to farm Bureau, and never had a claim. Got a water leak in a toilet fill line that ruined some carpet, and they dropped us.
We've been with USAA for about five years now, but like the rest they went up these last two years, so it might be time to look around. We have everything bundled. We had one claim with them when a tree blew over onto my shop building and screwed up the roof. They paid quickly.

 

[shotty]

Changing to Allstate tomorrow $169 a month for 160K replacement cost.

 

[Sanford]

Allstate. They also have a low-cost rider addition that increases coverage for "Sports Equipment".

 

[FullAuto]

I just shopped all my properties (6 rentals, 2 commercial properties and personal residence) for the first time in several years. I've been with SF for over 10 years and my agent is top notch. However, they went to Actual Cash Value (ACV) instead of Replacement Value (RV) on my rentals and I got hammered on my claims for storm damage after the last tornado.

I ended up going with Shelter for my rentals because I felt they offered the best value (coverage and deductible) and they are paying RV instead of ACV. I am still with State Farm on my personal and autos. All of the actuaries at these companies have a preferred type of property. They are not one size fits all. One company may be better for one type of property in one area and be uncompetitive for a different type or property in a different area. It pays to shop.

Most property insurance companies have lost money in our state for the last 10 years. Our weather freakin sucks. The hail claims have been more costly than the tornado claims. Not only do we have to live with crappy weather, we have to pay extra for it.

I'm closing on two houses this month. I got quotes from several companies including Shelter. A few companies wouldn't offer a policy unless I brought over an auto. Shelter was the cheapest premium with the lower ($1000) deductible. But they were all ACV policies. State Farm offers replacement cost policies and that's what they'll typically quote you if you don't specify. On a rental property, the roofs are ACV, but the rest of the structure is replacement cost. You can also request them to lower the replacement cost to 80% to save some money. Technically, you can go lower, but anything lower than 80% and they surcharge you which takes back all the savings.

With Shelter, they require you to carry a minimum in liability. Once you have 4 houses (I think), they write a separate liability policy so the homes get a little cheaper. But when I tried to only bring 2 houses to them, they were only about $80 per year cheaper than State Farm and had much less coverage because I had quoted them market value versus the 80% replacement from State Farm.

Farmer's was also very competitive to Shelter or State Farm at 80%, but they have a $2500 deductible. All State and Liberty Mutual wouldn't write the policies. Farm Bureau has financial issues and I don't qualify for USAA.

 

[Jeff405]

Just moved everything from Farmers to Safeco this year. I think Safeco is part of Liberty Mutual.

 

[okiearmory]

I'm with Oklahoma Farm Bureau. They have had great claims service every time I have had to use them. They give you a discount for having both auto and home with them plus a discount for an alarm system.