I’ve just purchased a house, and I am getting quotes for homeowners insurance. For identical coverage policies, I’ve gotten quotes ranging from $820 to $1430 a year. All from reputable insurance firms. Is this normal? I would obviously want to go with the lowest cost one, but are there any risks I’m overlooking? A 50% difference seems odd to me.
Thanks!
Best reply by golferwhoworks:
no this is normal some are just higher than a cats back–call your auto provider and se if you can get a multi policy discount and also ask the others if they will do the same and get quotes for all
Read the original question here
Huge spread in homeowners quotes — is this normal?
car insurance is the same.
check each name with the BBB and
then, ask your agent who he-she uses.
and get other recommends.
then, read their agreement carefully.
if need be, give each agreement to your
atty to review.
some do not cover many obvious things,
some have a limit on replacement value,
some have larger deductibles.
stuff like that
available for further help
Make sure all policies are offering the same coverage. Amount of deductible, replacement value, water damage covered and so on. Yes there are differences in quoted prices but the real question is in the details. If you have other ins. polices try using the same company. Multi policies gets you a discount.
when i bought my house there was a pretty big range in homeowners insurance quotes also. insurance is not a very transparent business and you never know quite why they charge what they do…I took the cheap quote and I hope my house never burns down.