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Any body here sell Insurance?

We have out grown our house and have found a new one that we are interested in buying, so I have spent the last few hours on the internet searching around. Everyone wants me to take out $150,000 or more :smack: on a house that I will only be paying $55,000 for and pay $2,500 or more yearly! Anyone got any sugestions.
 

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That seems really high to me, but I guess it depends on the house, location, etc. I'd call them all and compare. Travis Ryan at Greene Co. Farm Bureau is a great guy to deal with.

I pay under $700 a year for $225K coverage with a $1000 deductible. How much coverage you need is up to you. I'd look at what it would cost me to replace it and not have to do any of the work myself. Content coverage is usually half the home coverage.
 

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That seems really high to me, but I guess it depends on the house, location, etc. I'd call them all and compare. Travis Ryan at Greene Co. Farm Bureau is a great guy to deal with.

I pay under $700 a year for $225K coverage with a $1000 deductible. How much coverage you need is up to you. I'd look at what it would cost me to replace it and not have to do any of the work myself. Content coverage is usually half the home coverage.
The last quote I got was i think from prgressive who I have my auto with and it was just outragious!

I may give him a try, thanks!
 

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I had Farm Bureau Homeowners for twenty years....went to State Farm and got the exact same coverage for half what FB was charging me...:cool:

(Son/Daughter did likewise)
 

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I have mine with state auto right now.............state farm and farm bureau were outrageous cause I live in the country and the fire hydrant was to far?
 

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Got everything with State Farm, can't remember what value it is, but it costs about $140/QTR............My Cabin, at the Deer camp is uninsured...State Farm won't insure it, but Farm bureau will.........if I take ALL my Business to them!!!!!!!! and that's a Crock!!!
 

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Got everything with State Farm, can't remember what value it is, but it costs about $140/QTR............My Cabin, at the Deer camp is uninsured...State Farm won't insure it, but Farm bureau will.........if I take ALL my Business to them!!!!!!!! and that's a Crock!!!
We use Farm Bureau (in Rison) for everything, our vehicles, house, 4-wheeler, etc. They also insured our cabin at deer camp, but like you said it was only because we have everything else with them.

Any body here sell Insurance?

We have out grown our house and have found a new one that we are interested in buying, so I have spent the last few hours on the internet searching around. Everyone wants me to take out $150,000 or more :smack: on a house that I will only be paying $55,000 for and pay $2,500 or more yearly! Anyone got any sugestions.
I'm pretty sure we've got $55,000 coverage on our house and it costs around $120 per quarter, but we're in town only 50 yards from the nearest fire hydrant. I don't know why any company would require you to carry $100,000 more insurance than the property is worth though. Like HFH said, you need to insure it for replacement costs if possible, but I'd do some more checking around for a better deal, that's for sure.

.270Win
 

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one of the things forget about is contents. Sometimes you have belongings worth as much as the house.

Another thing (that I need to do soon ) is look at your homes value ,market that is and increased cost to replace) and adjust your insurance accordingly.

When something bad happens it's to late.:frown:
 

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Call your local office of Arkansas Farm Bureau.
X2. I have been with Farm Bureau in 3 different states and will continue to encourage people to use them even after I had a claim on a policy in Louisiana. Don't get caught buying too little insurance. You aren't insuring the purchase of the house but rather the replacement of the house and it's contents.
 

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Insurance

X2. I have been with Farm Bureau in 3 different states and will continue to encourage people to use them even after I had a claim on a policy in Louisiana. Don't get caught buying too little insurance. You aren't insuring the purchase of the house but rather the replacement of the house and it's contents.
Ditto on this. Some companies will only insure purchase price the first year. This reduces loss and discourages a person from paying $50k for a house that is then torched and replacement cost is $150k or whatever producing a nice profit. There is one company out there that has to be asked and permission from the underwriter given and then and only then will you get 80% replacement value. Very very important!!! Anything less than 80% replacement and you will be considered co-insurer! You will share in the risk if a claim is made on the house . Let's say you are paying for a 50k purchase price house and replacement value is $100k. It burns down. Your check will be 50k. You make up the other 50k because you only had 50k coverage and enjoyed the reduced insurance price. One has to meet the 80% threshold to have full coverage. Ask if the company has automatic replacement cost increases every year. Then you will not have to worry about increasing the coverage yourself. Remember structure only not lot cost + structure. Last but not least. If you have a nice garage, workshop, guest house, fence etc. Attach it physically to the house or it requires a separate policy.
 

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Ditto on this. Some companies will only insure purchase price the first year. This reduces loss and discourages a person from paying $50k for a house that is then torched and replacement cost is $150k or whatever producing a nice profit. There is one company out there that has to be asked and permission from the underwriter given and then and only then will you get 80% replacement value. Very very important!!! Anything less than 80% replacement and you will be considered co-insurer! You will share in the risk if a claim is made on the house . Let's say you are paying for a 50k purchase price house and replacement value is $100k. It burns down. Your check will be 50k. You make up the other 50k because you only had 50k coverage and enjoyed the reduced insurance price. One has to meet the 80% threshold to have full coverage. Ask if the company has automatic replacement cost increases every year. Then you will not have to worry about increasing the coverage yourself. Remember structure only not lot cost + structure. Last but not least. If you have a nice garage, workshop, guest house, fence etc. Attach it physically to the house or it requires a separate policy.
Exactly!!!
 

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My wife and her family have always been with state farm, but when we got married and started looking I compared SF with Shelter and it wasn't even close! Check out shelter, I think you will be pleased! I know I am!!
 

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Mom and I were able to strong-arm a better deal out of State farm by insuring 5 vehicles, 3 houses, 2 acreages, and several lives all under the same roof. They like big accounts and will bid to keep them.
 

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Mom and I were able to strong-arm a better deal out of State farm by insuring 5 vehicles, 3 houses, 2 acreages, and several lives all under the same roof. They like big accounts and will bid to keep them.
Yeah like I said, my wifes fam is with them and her dad owns his own business and has it insured through them, which means over 10 cars, the business, and then there personal policy....but they were WAY higher than Shelter, and didn't cover as much. :smack: :confused:
 

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Lots of factors to consider - and each company is different. Here are some things to keep in mind:

Every company has variable rates - when one company may be lowest this year, another may be lowest next.... It can pay to continue to shop it around every year or so.

The amount some companies want you to take out is called "replacement" value - what it would actually cost to replace (rebuild) the home and contents. You insure for $55K, but the house burns down with all contents - you cannot rebuild for $55K, much less replace all your stuff.

Don't forget a rider for your guns and such... some homeowner's policies are bad about guns and replacement.

Don't just stick with the "big guns" of insurance - State Farm, Shelter, etc. Check with a good local "independent insurance agent". They have access to quality companies that sometimes have much better rates and/or coverages.

Also remember that some offer discounts on other policies when you have homeowner's with them.... Can help with your auto policy for example. But you have to balance that with the rates for those.
 

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I happen to work for Shelter as a property claims adjuster. I can tell you that cheaper rates can mean sorry service from the cheap guys when you have a claim. Start talking to folks who have had a fire, tornado, water claim and see who was satisfied and their feelings on how they were treated. I see it every time I enter a catastophe site. Folks start wanting to switch in massive numbers after it is over cause of the sorry service they got from their cheaper rate company. Price, what is covered, satisfaction of service on claims and such should all be considered. Do your homework the higher cost now may pay off if your house ever suffers major damages.
 
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