How much do you pay for homeowners insurance??

just wondering how much it cost for the year!

TIA

Re: How much do you pay for homeowners insurance??

I pay 1100/yr.

Re: How much do you pay for homeowners insurance??

I just got a quote of $1,035 from State Farm.

Re: How much do you pay for homeowners insurance??

i think ours is about $750 a year

Re: How much do you pay for homeowners insurance??

It depends on the cost of the home, size and mortgage.

We are paying 1211.00

Re: How much do you pay for homeowners insurance??

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Posted by myasmom

It depends on the cost of the home, size and mortgage.

We are paying 1211.00

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I was told it shouldn't have anything to do with the size of the mortgage, but should be 'replacement value' of your home.
I believe I was quoted about 810/year.

Re: How much do you pay for homeowners insurance??

$850

Re: How much do you pay for homeowners insurance??

we pay 354 but its for a co op so i'm sure that's why its so much cheaper

Re: How much do you pay for homeowners insurance??

I believe it is based on the replacement value of the house only, not the entire cost of the property. Our's is $1,500

Re: How much do you pay for homeowners insurance??

We pay $604 for our co-op insurance.

Re: How much do you pay for homeowners insurance??

$563 a year...that's with the discount you get for having an alarm system

Re: How much do you pay for homeowners insurance??

$560 through Met Life.

They also consider the age of your house, how it's heated, what kind of electric (circuit breaker or fuse box), whether or not the garage is attached, how far you are from a hydrant and a fire house, among other things.

Ours ended up being less than the initial quote because the fire house is less than three miles away, which I did not realize at first. I also told someone at one company that the electric was a fuse box, getting me a quote of $1,700.

Re: How much do you pay for homeowners insurance??

Re: How much do you pay for homeowners insurance??

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Posted by myasmom

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Posted by dkwife

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Posted by myasmom

It depends on the cost of the home, size and mortgage.

We are paying 1211.00

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I was told it shouldn't have anything to do with the size of the mortgage, but should be 'replacement value' of your home.
I believe I was quoted about 810/year.

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I have statefarm and thats what I was told yesterday so its fresh in my head lol. Maybe what he was saying was the value of the home but our agent said how much is the mortgage and said the more $$$ the home the more insurance. So a home thats under 400k wont be the same rate as a home thats over 400k like ours.

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oops sorry about the double post.

Re: How much do you pay for homeowners insurance??

$1125 for the year. That is for 125% replacement, personal property replacement for items up to $5000, and a $500 deductible on claims (except hurricaine, which is a 2% deductible).

Re: How much do you pay for homeowners insurance??

around 775 a year.... 1,000. ded... the $500 ded would have been like 925 a year

Re: How much do you pay for homeowners insurance??

we will probably go into contract signing in a couple of weeks, when do i have to get homeowners insurance? (totally clueless about everything over here)

Re: How much do you pay for homeowners insurance??

$742 for the year. Our home value now is 600k and we have 100% replacement at the time of loss coverage.

Be very careful how your insurance is written. If it is based on property value now and mortgage I would not go with that policy.

Basically those policies have a cap and you have not a clue how much your home will be worth at the time of the loss.

Re: How much do you pay for homeowners insurance??

Ok thanks for the information!! Do you get a discount if it is a new house being built?

Re: How much do you pay for homeowners insurance??

our home is new construction as well and there was a discount for certain things. We also received discounts for having sprinklers and an alarm system in the home.