home insurance, what have you found out

[nofearfactor]

We have had a small bathroom fire in 03' resulting in a new toilet some tile and one wall repaired, a new roof after a bad summer storm in 2011', a water line leak in a water closet that got into our sons closet last summer, I totalled out one of my cars in 05' that was just on liability with only slight damage to the other car but no medical on either side, and then had a car slam into me from behind in 2012' totalling my SUV. State Farm has been right there on top of things every time- big or small problem. We're not just loyal we get good service. My brothers wife runs a small realty/insurance agency in Osage county and my mom was in banking and insurance for almost 50 years and they both use State Farm also.

 

[skatalite]

We have Travelers for home and auto, and we also have earthquake coverage. We have only ever needed them once, in 2011, and they were great.

 

[primeoflife321]

I had State Farm when my house burned down in 2012 and we lost everything. They had a large check in my hand within 24 hours and the local adjusters were great to work with thru the entire process. Highly recommend


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[GUN DOG]

Thanks for your info I'll ring some lines tomorrow

 

[ronny]

If you're over 50 and belong to AARP, you should check out The Hartford.

 

[GUN DOG]

yes ove 50 no do not belong to AARP, might call for fun if they will talk to you with out a membership

 

[moller72]

Aaa here house is 185,000 house insurance is 1200 a year had to move car to them also but the car was the same as my old insurance 800 a year and had to get membership which is like 30 a year.

 

[ronny]

yes ove 50 no do not belong to AARP, might call for fun if they will talk to you with out a membership

Membership is peanuts compared to what you're paying for Homeowneers insurance. I'm surprised they haven't already sent you something if you're over 50. Be advised, they'll think your house is worth more than you do.

 

[inactive]

Insurance companies have insurance companies as well for large losses; reinsurers. Farm Bureau decided (I think around 2009) that they were big enough they could be their own reinsurer. When the 2010 storms hit, they got hammered and lost a large chunk of their reserves. That's when they went around and started canceling customers that would not bring their auto policies (profitable) over to the company. Their customers that had home only with them were told to bring over autos or go elsewhere. Their remaining customers all had premium increases larger than market average (everyone went up in OK). Farm Bureau (actually, everyone) got hit hard in 2010, 2011 and 2013. FB just got hit a little harder from their choices to drop reinsurers. They are still in recovery mode.

If you are shopping around, you want to shop State Farm and Liberty Mutual. They are the two big name, HO5 style (excluded peril) policies for this state. State Farm and Farmers have the two largest market shares in this state by a good margin if that means anything to you. But if you consider Farmers, you need to specifically ask the agent if they are a listed peril policy (as I'm pretty sure they are).

After a catastrophe, you'll hear nightmare stories about every company from someone. But you'll find those insured with a listed peril company will have many more complaints. It is simply because people don't understand the differences and only find out when the policy is applied to deny things people assumed were covered.

Disclaimer: I'm an auto adjuster and do work for a major company in the state. But I also carry insurance with multiple companies. My decisions on insurance are not based on loyalty.

This is really about all you need to read in this thread. I'm an adjuster for a larger multi-line carrier, and have little to add aside from just call as many places as you can tolerate.

Also, check on HIGHER deductibles. Sometimes going from 1000 to 1500 or 2500, or a set % of your dwelling coverage can be a lot of premium savings. For example, raising my deductible from 1% of dwelling (2090) to 2500 saves me about 200 bucks a year in premium. I make up what I would have to pay IF I had a claim in just two years.

 

[FullAuto]

Comparing premium for coverage A is a bad comparison. A newer house will have a lower premium everything else being equal because all the electrical and plumbing are newer, it's built to newer code and better materials (in theory). So a $300k house built 1 year ago will be cheaper than the $300k house next door that is 20 years old. Location also makes a difference; if your city has 24/7 firemen, distance from hydrants, etc.