Go Back   TeamTalk > Off Topic > Off Topic Discussion

Thread Tools Display Modes
Old 01-31-2017, 03:34 PM
76S&S's Avatar
76S&S 76S&S is offline
MC Devotee
Join Date: Jun 2007
Boat: 2002 X Star
Location: Lake Tuscaloosa, AL
Posts: 2,337
Home owners insurance

I did a quick search but most insurance questions were regarding boat insurance, hmm go figure.

I feel like my home owners premiums have gotten out of hand and would like to hear what some of you are paying. If you don't want to list all facts, I get it but, home value, size, resident state, premiums and underwriter/carrier would help.

Home estimated value is 350 - 400k including 17 acres.
2,700 sq. ft and a full basement.
$3,900 annual premium, Travelers.

Being on the water is best, but when I'm not on the water I'm on TT.

2002 X Star
Sold - 76 S&S
Reply With Quote
Old 01-31-2017, 03:59 PM
TN Skier TN Skier is offline
MC Fanatic
Join Date: Oct 2013
Boat: 1992 Mastercraft Prostar 190
Location: Southeast - Center Hill Lake
Posts: 527
WOW! That sounds high. Ourso took about a $1400 jump this year, we shopped it and got it within about $600. We had a $2600 claimed from storm damage I guess they were bound and determined not to take the hit for doing their job.

Has your I SO rating changed with your fire service? The higher the number there more insurance costs.

Since east TN had horrible fires this year and lot of loss I am figuring that itll.find it's way in to our pocket at some point.
Reply With Quote
Old 01-31-2017, 04:12 PM
cbryan70's Avatar
cbryan70 cbryan70 is offline
MC Maniac
Join Date: Jul 2006
Boat: 1993 Prostar 205
Location: midwest
Posts: 4,573
you can NOT compare home prices from state to state. The amount you insure your home for does not include the land(that cant get ruined) and generally you do not insure it for what it is worth. You insure your home for how much it cost to be replaced in the event of a total loss.

For example in IL a 300k home would run around 1k...that same home in OK would be 5k....regions matter alot on the price of homeowners insurance.
Originally Posted by Hoosier Bob
She always misses me and when I turn her on it is hard to turn her off! She is MC and she completes me! She is the first ride that wants it as much as I do!
Reply With Quote
Old 01-31-2017, 04:42 PM
jsx30 jsx30 is offline
TT Enthusiast
Join Date: Feb 2016
Boat: 2016 x30
Location: southeast
Posts: 286
AL homeowners insurance premiums seemed to have gone up a lot in the last few years. Your premium does seem high. It may be that every tornado that hits Alabama seems to hit Tuscaloosa first...maybe look around at some of the other companies. I've got USAA and they have been great...
Reply With Quote
Old 01-31-2017, 06:05 PM
slalomjunkie slalomjunkie is offline
MC Devotee
Join Date: Apr 2015
Boat: NA
Location: West
Posts: 1,317
Trying to recall how I determined replacement value... I think I included the inside contents... I valued it all at 475 which included the house, contents, dock and not the land. Bill was around 1700/yr
Reply With Quote
Old 01-31-2017, 07:47 PM
maxpower220 maxpower220 is offline
MC Fanatic
Join Date: Sep 2008
Boat: 1997 ProStar 205
Location: SouthEast
Posts: 675
I recommend finding a large insurance broker. Let them shop prices for you. Once you have that, call a few local agents from companies you know. After that, you will have a very good idea of what insurance should cost YOU, your home, in your part of AL. Everyone elses information doesn't really help.
1997 PS 205
Reply With Quote
Old 01-31-2017, 07:57 PM
ttu's Avatar
ttu ttu is offline
MC Addict
Join Date: Jun 2005
Boat: 2007 X2 towed by a 2012 Touareg TDI
Location: tulsa
Posts: 5,190
bryan, is correct but a little high in Oklahoma! but not to far.

rates are generally based of a 5 year loss ratio in your state. one of the biggest things that has caused large increases is the cost of roofing material. 15 years ago a 3 tab shingle installed was around $75 per sq. today depending on location is around $200 plus per sq.

also note earthquake is not included in your homeowners policy and must be endorsed. also the deductible is different that your standard deductible on the house policy.
Reply With Quote
Old 01-31-2017, 09:49 PM
Bouyhead's Avatar
Bouyhead Bouyhead is offline
MC Devotee
Join Date: Feb 2009
Boat: 2008 22' Progression
Location: NYC
Posts: 1,710
Like others have said I found USAA very competitive. I have homeowners,life ins,and all my vehicles insured with them.
Reply With Quote
Old 01-31-2017, 09:55 PM
atihanyi atihanyi is offline
MC Devotee
Join Date: Sep 2013
Boat: mastercraft prostar 190 1992 w/powerslot
Location: Wisco
Posts: 1,322
As a body shop manager , I wont bash anybody but , USAA , really ?????????
Reply With Quote
Old 01-31-2017, 10:21 PM
Moosecrackers's Avatar
Moosecrackers Moosecrackers is offline
TT Enthusiast
Join Date: Nov 2009
Boat: 2010 X2
Location: Indiana
Posts: 148
Minor thread-jack, but a question for you insurance folks. Is there a rule of thumb for purchasing earthquake insurance based on location? In my case, my agent recommended earthquake insurance for our house in central IN just north of Indy, but not for our lake cottage in northern IN. Said the risk of earthquakes that far north is minimal. Wondered if there was an imaginary line for recommending that coverage.
Reply With Quote

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

All times are GMT -4. The time now is 10:59 AM.