Homeowners - a little high?

[Debfrommaine]

Live in a stick built 1600 sq villa, 3/2, corner lot, 5 yrs old almost. We added a pool, not very elaborate, with a bird cage. When we called the insurance company (they are local) they asked various other questions to keep things current, like do you have stainless steel appliances (yes), crown molding (yes), granite and marble (yes). So, that means your homeowners will now be $1300 a year from $800 they stated, that was 10 months ago, and we now have another $40 increase because it is a new billing cycle.

Seem high to you in TOTV land?

[golfing eagles]

Live in a stick built 1600 sq villa, 3/2, corner lot, 5 yrs old almost. We added a pool, not very elaborate, with a bird cage. When we called the insurance company (they are local) they asked various other questions to keep things current, like do you have stainless steel appliances (yes), crown molding (yes), granite and marble (yes). So, that means your homeowners will now be $1300 a year from $800 they stated, that was 10 months ago, and we now have another $40 increase because it is a new billing cycle.

Seem high to you in TOTV land?

I'm just guessing, but probably the main reason for the increase is the liability of a pool. My homeowners is just under $1000 for a 2550 sq. designer with granite and stainless steel, no pool.

[dewilson58]

Deductibles and Liability Coverage can impact premiums as well.

There are also discounts for multi-lines...........auto, home, liability, etc.

[rubicon]

My Homeowner Insurance is over $2,000 a year. In ground spa no pool . My auto insurance went way up. Never had an accident but I attribute the large increase to the large settlement recoveries Attorney Dan Newlan clients brag about on TV:)

[jsw14]

Live in a stick built 1600 sq villa, 3/2, corner lot, 5 yrs old almost. We added a pool, not very elaborate, with a bird cage. When we called the insurance company (they are local) they asked various other questions to keep things current, like do you have stainless steel appliances (yes), crown molding (yes), granite and marble (yes). So, that means your homeowners will now be $1300 a year from $800 they stated, that was 10 months ago, and we now have another $40 increase because it is a new billing cycle.

Seem high to you in TOTV land?

Question? What does All that have to do with your putting in a POOL?? :confused:

[njbchbum]

Question? What does All that have to do with your putting in a POOL?? :confused:

Might have something to do with "they asked various other questions to keep things current".

[Debfrommaine]

Question? What does All that have to do with your putting in a POOL?? :confused:

Good question.... When we called to add the pool to the policy the agent asked about other things we may have done to the house, such as have you added, yada, yada. Adding the inside enhancements to the house added a couple hundred more to our bill. They said, as we all know and hope to never have happen, if your house gets knocked down you want replacement value.

[Villageswimmer]

Question? What does All that have to do with your putting in a POOL?? :confused:

When they ask questions, they want to make sure all improvements are included. That way, they can increase the premium based on home value. I assume you have sinkhole coverage and 100% replacement coverage. I'd also check the insurance company's rating to be sure they're at least rated A.

[rubicon]

When they ask questions, they want to make sure all improvements are included. That way, they can increase the premium based on home value. I assume you have sinkhole coverage and 100% replacement coverage. I'd also check the insurance company's rating to be sure they're at least rated A.

premium = the amount of replacement coverage you require to replace house/ personal property + liability+ other charges. the insurance co was simply ensuring that the individual had adequate coverage to replace home and belongings and adequate liability insurance because of the pool.

[manaboutown]

If you are insured for full replacement value your premiums will rise as the value of you home increases for whatever reasons. Pools of course add liability issues...

[John_W]

Sink hole or castrophic collapse would be impacted with a pool on the property. However, most insurance claims deal with fire, and I don't see too many pools burning down. My 2BR 2BA masonry CYV that was 6 years old last month is $730 a year with Integrity Insurance through Villages Insurance. I could see a stick built CYV costing more and a pool adding value, but $1,300 seems way too much. I would check with Villages Insurance.

[Debfrommaine]

Sink hole or castrophic collapse would be impacted with a pool on the property. However, most insurance claims deal with fire, and I don't see too many pools burning down. My 2BR 2BA masonry CYV that was 6 years old last month is $730 a year with Integrity Insurance through Villages Insurance. I could see a stick built CYV costing more and a pool adding value, but $1,300 seems way too much. I would check with Villages Insurance.

VI is who gave us the bill.

[Chatbrat]

when I was in business, never renewed with the same company-saved a lot of $$ by shopping

[Kahuna32162]

WOW, we just moved from a 1200 sq ft 2/2 with a pool to a 3/2 2600 sq ft with a pool and our homeowner insurance only went up about $200 a year to just under $900.

[dewilson58]

Deductibles and Liability Coverage can impact premiums as well.

There are also discounts for multi-lines...........auto, home, liability, etc.

PLEASE.................read and compare the actual policies. Unless you do this, you will not have an Apples to Apples.

15 minutes could save you 15%, it could also reduce your coverage.

:posting:

[jnieman]

If you are thinking of switching be sure to compare the quote line by line with your current policy. It is so easy to end up not getting as much as you are getting now. Insurance companies do this a lot to get your business. They can make adjustments in any number of places on a policy to make it seem like less.