Periodic Homeowners Insurance Coverage Review
 

I've been here almost 11 years and insured my home through Villages Insurance the whole time. Originally, I was with Travellers but costs kept increasing and hurricane deductible changed to a % of coverage vs a fixed amount. So, I reviewed policy and coverage with them and switched to ASI, better coverage, lower premium, sinkhole coverage, fixed deductible. The sinkhole coverage now has a 10% of insured valued as deductible.

Anyway, just got my renewal from ASI and premiums increased about 15%, so, asked for another review. Decided to drop sinkhole add-on as I will have to pay first $35K of repairs...just not worth it.

While reviewing, the agent noted that they now offer bundles of coverage that I was previously paying separate coverage (replacement cost +25% coverage, debris removal). By dropping individual items and adding equivalent home shield bundle, I saved about $100 and got water/sewer backup coverage that I did not have before.

Anyway, just a suggestion that you sit down and review your insurance coverage and options every few years as things do change.

It was 30 minutes well spent.

Great suggestions....thank you!

Thanks for that suggestion. We too are with the Villages Insurance and have experienced increases annually.

you might try regency insurance group out of Tampa. 239-628-4344

They offered us UPC Insurance. Top A insurance company in Florida and Great rates. We have had them for 8 years with no significant increases.

10 % sinkhole and 2 % hurricane coverage.

Remember the big difference between "sinkhole" and " catastrophic ground collapse ".

Insurance is a commodity that should not be shopped by price alone. Insurance is complicated. Paying insurance premiums is one of those expenses most people detest, until and unless they are faced with a loss. People forget that what they are paying for is that invisible thing called "insurance" against loss which follows them in every aspect of their lives. hence insurance is one way in which people manage risk.

I have remained with the same national insurance company for years despite their increases, etc because I am quite aware of their excellent claim handling, professionalism in providing a good product.

The OP is correct and very insightful in doing a periodic review of insurance coverages

We have all our coverage with AAA, seems they were the best coverage for the money. It's been almost 2 years now.
Ever wonder how much $ you have paid into insurance companies thru your lifetime. Such a shame that it's a way of life. But, by now at our age we would have a pretty good addition to our nest egg. No doubt we needed it, just thinking about it.

We also have ASI homeowners insurance, with AAA handling it. We have had ASI since 2011.

The reason I'm posting is that we just received our ASI homeowners renewal and it is only $4.00 more than last year. I compared ... the coverages and endorsements have not changed.

Seems odd.

Interesting... mine went up $163. $60 for FL state approved rate increase and $103 for coverage increases...home value and sinkhole add on.

Has anyone hada claim thru ASI. An insurance company is only worth how they handle claims...NOT...how cheap they are

ASI and Travellers were the 2 big companies used by Villages Insurance when the tornado hit in 2007. I heard and saw generally good remarks about their claims performance. VI says ASI is still very highly rated. You are right, it is definitely about more than just cost. I had heard Geico was now writing HO insurance...but turns out they partner or sub to Security First who did not get good reviews on their performance so I did not pursue.


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We just switched Golf Cart Insurance from Foremost to Nationwide $50 savings.

We just switched Automobile Insurance from Travelers to Progressive $380 savings. Great coverage on the Car & Cart. Travelers went up $300 after one year with no claim.

We just switched From Foremost to Modern USA on our homeowners, maximum coverage on a Manufactured Home. The coverage amount is the same for each company but the Modern USA policy does not cover the cleanup of the property in case of a total loss from a weather event and the deductible is higher. The cost of the policy from Modern USA is HALF. Shopping for Manufactured Home Insurance is a shock but I can see the Insurance company's point of view is totally correct.

We are with The Villages Insurance and feel very comfortable with them. In NJ we had New Jersey Manufacturers Insurance and I know you may not believe it but it was a company that you could love. They were absolutely the greatest. I am getting the feeling we are with the same kind of company with The Villages. Time will tell.

Been with ASI thru Villages AAA since 2005 - no claims

Believe is started out at about $650/yr with $500 sink hole deductible. Now about $900 with 10% property value deductible for sink hole (BIG DIFF). BUT, I believe hurricane/wind damage deductible is still $500 (? ? ?).

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