Post # 1
Just curious. Was looking at some different prices. Our current policy doesn’t expire for another 6 months, but I’m still shopping around and got curious.
So, how much MONTHLY? Also – how much is your house “worth?” <– I know in this economy it’s vague.
Post # 3
About $80. It’s worth about 550k, but the policy is for about 450k replacement value of the structure.
Post # 4
@pinkshoes: That seems extremely reasonable! Is it a part of a bundle/multi-policy discount? And if you don’t mind me asking, which company?
Post # 5
@AmeliaBedelia: Its with MetLife and we have it bundled with car insurnace but I think the discount was only like $40 to have them both vs have separate house and car.
Post # 6
I think we pay $85…our replacement value is $300K – we have my car and my e-ring on the policy to so I am sure there is a discount but I dont think its too much.
Post # 7
We pay about $98 a month for a house we paid $230k for in December. Replacement value of $249k and $187k in personal belongings. Also $1k deductible.
Post # 8
sorry, I voted $150-200 because I didn’t read the post. That is our yearly amount, not monthly. We have a condo, so since we don’t actually own our roof/walls/patio, we just contents insurance to cover what’s inside those 4 walls.
Post # 9
We pay $77/month and that is for replacement value of $450,000 (our house is worth about that). It covers personal belongings as well but I don’t remember what the amount is. They also do our car insurance so we got a bit of a deal. 🙂
Post # 10
I voted wrong!
It’s $50 a month with a replacement value of $212K. Another 20K for the pool, 160K for personal property, 300k for personal liability, 1K for medical bills and my e-ring is on there as well.
I listed all those because when I was policy hunting all those extras made a difference in the quotes. Some I got were higher and did not include as much extra stuff.
It’s with Liberty Mutual and it is bundled with two cars. My ILs have also had really good luck with All State, I might look into them when it’s time for us to renew.
DEF ask about what kind of other discounts you can get. We got a ton!
P.S. The other thing to note is our policy also includes lodging if our house was damaged in such a way that it’s not liveable. Meaning they pay for us to rent an apt or hotel room. It’s also important to note the replacement value should take into account if your home was to burn to the ground how much it would cost in labor and materials to rebuild your home today.
Post # 11
I’m surprised that anyone’s would be much over $100 per month. My last house was $780k and my homeowners was $1012 per year. It wasn’t part of a bundle either and I live in an expensive part of the country.
Our rental properties worth around $300k are no more than $600 per year.
Post # 12
1 of the 2 votes is by me and it was a mistake! I was thinking of our total monthly insurance which includes the house and 2 cars.
Post # 13
Oh crap I voted wrong too. Our yearly is $650. So monthly it is around $54
Post # 14
Just a note, answers will be different depending upon whether people are in a condo or homeowners community where the master association policy covers certain structures and your personal covers inside walls (belongings) or only certain structural parts.
Post # 15
Sheesh, guys. Y’all have me thinking I should move. FI and I just got quotes on the house we’re trying to buy, and the least expensive one was $290/mo. That’s what living in New Orleans gets you, I guess. And the flood zone is X. There are some houses in areas below sea level that major insurance companies won’t insure at all, and those houses have to rely on the state’s insurance plan…which is about $650/mo. UGHHH.
Post # 16
Its really hard to do a poll this way. Policies are so custom to your area, structure type, structure features, built- in policy features, crime rates, previous claims…the list goes on and on.
A big tip to help bring your replacement cost down– ask for functional replacement cost if you have plaster walls, in the event of a total loss the house would be rebuilt with drywall