escrowbear
New member
Do any of you have any recommendations for home/car insurance? I'm shopping around for some quotes now. I currently use Ameriprise.
Home Insurance Recommendations
- Thread starter escrowbear
- Start date
sgip
Well-known member
I've found AAA to be very competitive when you combine all their services - car, home, etc. Don't have an Agent to refer you to however. One of my clients got a quote recently from Liberty Mutual that was really well priced. AAA and LM are both very strong companies compared to Hartford and a few others. I work for an affiliate of an insurance company, but we don't offer home coverage in Cali.
We use AAA for home and auto. When I researched this a few years ago, I wanted to make sure that we chose an insurer that had a good price IN ADDITION to good support and claim resolution. I didn't want to chose them based on price alone. I wanted to make sure that if/when a claim is needed that we wouldn't have to jump through hoops or have some loophole applied to deny us any claims. AAA had good reviews and ratings.
davenlei
New member
I had AAA for many years and was happy with the rates. I did have to leave them when I bought my new house because they have very strict rules on insuring homes near any type of open space or ridge due to risk of brush fires. I am with 21st century now (insured through Balboa) and the rates are good and they do not have the same open space restrictions.
escrowbear
New member
When you shop for home insurance, and the amount of coverage you are looking for. Are you looking for the amount that you paid for the home or for the amount that it costs to rebuild your home?
Example.
Paid $1,000,000 for a 3000 sq ft home.
Do you get coverage for $1,000,000 OR
Do you get coverage for $600,000 (Assuming $200 x 3000 sqft to rebuild home)
Example.
Paid $1,000,000 for a 3000 sq ft home.
Do you get coverage for $1,000,000 OR
Do you get coverage for $600,000 (Assuming $200 x 3000 sqft to rebuild home)
When I got a quote for our home owner's insurance, it was based on the cost to rebuild the home per square feet. Then additional costs were added such as items in the house, coverage of appliances, etc. There was the decision to cover up to a certain amount to rebuild the house. If it cost more than that, the coverage would extend to a certain percentage. We decided to purchase coverage that would cover the cost to rebuild regardless of the actual rebuild cost. For example, we got coverage to insure the rebuilding of the house for $600k. If due to increase in labor, materials etc., the actual cost to rebuild in the future was $650k, we'd be covered. If the actual cost was $800k, we'd only be covered to a certain extent. We had the option to pay a premium so that the cost of the rebuild would be covered 100% regardless of increases in labor, materials, etc. We went for that extra premium as it wasn't a big amount and gave us more piece of mind.
I am also insured with AAA for my auto and home. I used to be with Mercury, but you get what you pay for. Their claims service is horrible, and after some research, AAA's claims reputation was one of the best.
Their premiums may be slightly higher, but keep in mind they offer Guaranteed Replacement Cost Coverage, whereas most insurers in Southern CA only offer Extended Replacement Cost Coverage.
Another factor is the Policyholder Savings dividend paid at the end of the policy term, which usually averages $120 off the premium.
Their premiums may be slightly higher, but keep in mind they offer Guaranteed Replacement Cost Coverage, whereas most insurers in Southern CA only offer Extended Replacement Cost Coverage.
Another factor is the Policyholder Savings dividend paid at the end of the policy term, which usually averages $120 off the premium.