<p>Is the term of that $1200 policy 6 months or 1 year? </p>
<p>My homeowners is about $850 every six months. BUT that not only includes the house, but the contents of the house as well. If it burns down, I wouldnât want to build an empty house. I would need all the appliances, furniture, clothing, rugs, etc replaced as well.</p>
<p>And youâre also covered for theft, liability, and such things as hail damage (one of my friends will now need a new roof and siding after a recent hail storm - tens of thousands of dollars) and a burst pipe (another friend went on vacation and had a pipe burst upstairs causing almost $100,000 in damage).</p>
<p>I knowâŠmy friends arenât lucky.</p>
<p>Someone could always raise their deductible and self insure for the higher deductible amount, while lowering their premium, instead of having no insurance at all.</p>
<p>1 year. I was mad when it went up, but I gather that a lot of folks pay way more. This is not a bare bones policy either, just does not include flood (we are not in a flood zone) and earthquake insurance.</p>
<p>Shop around â my company kept increasing my rate, and I finally got annoyed and looked for new coverage last year for house and cars. Saved $1,500 annually between the two by switching.</p>
<p>Way back in post 1329, I made a (not very funny) joke about insurance. I apologize for taking this thread so many miles astray. I donât know how to work this newfangled Internet thing :(( </p>
<p>Like you @intparent we did get a quote on car insurance with our homeownerâs (State Farm got more competitive), so we saved a lot on homeownerâs with the bundle. Then over the years the replacement cost had gone way higher than what it would cost, so our agent reviewed our home plans (we built 22 years ago and always had State Farm homeownerâs). Got the replacement cost price adjusted down which also saved us some $$.</p>
<p>I also have an umbrella policy - we have 18 year old and 20 year old with car insurance with us. You never know; it is good peace of mind.</p>
<p>My mother was not a good driver, and dad had set up a $1 million umbrella policy when he was alive. Mom would not limit herself to local driving, and she was the cause of a really bad accident. The umbrella paid out a lot, then canceled her car and umbrella insurance. District Attorney pressured to get her to forfeit license (which she did) - and we thankfully prevented her from being able to regain. State got a lot of their form completed with concerns and information about her driving - and my sister called the local place where she was going to be allowed to take the behind the wheel exam - they checked with the state office and the state sent momâs attorney a letter - done.</p>
<p>I couldnât get my original company to reduce the replacement cost (they had it MUCH higher than it would take to replace my house, even if the old one was torn down a nail at a time by someone doing it with their teeth and carting it away in a teaspoon). So switched (now with AAA, it has been pretty good and quite a bit cheaper than the original company).</p>
<p>We switched insurance carriers this year after 20 years with the same company. We shopped aroundâŠactually used an agent. We have better coverage, same deductibles, and $1000 less in premiums per year. </p>
<p>Aaaahhhhhh!!! I just noticed we now have post numbers! Sorry if this happened some time ago, but I just realized it. </p>
<p>I know weâre not supposed to comment on the moderating - but thank you, moderators! You rock. </p>
<p>I just noticed it on this thread, too, hayden! Yay!</p>
<p>Post numbers just came back today, along with some other minor tweaks:</p>
<p><a href=â*** OFFICIAL CC FORUM UPDATES THREAD *** - #11 by CC_Sorin - College Confidential Community - College Confidential Forumsâ>*** OFFICIAL CC FORUM UPDATES THREAD *** - #11 by CC_Sorin - College Confidential Community - College Confidential Forums;
<p>Now if they would just get user names out of the email subjectsâŠ</p>
<p>Also the day and time shows! So much better! However, mine says yesterday at 9:21 pm when it was actually 9:21 today (7/10). Funny⊠</p>
<p>I am at a different place from most of you. What we own thatâs valuable to us is mostly sentimental. If everything burns down, insurance canât help much. I canât imagine demolition is so costly if you are not trying to salvage anything. Just knock it down and haul away. How expensive can it be?</p>
<p>Somehow I have a feeling that with all the environmental and regulatory requirements nowadays, it will be a lot more complicated process than just knocking it down and hauling it away.</p>
<p>To rebuild, you also have to clean up. Iâd think the cost of cleanup would be a minor fraction</p>
<p>I paid for all kind of insurance, even earth quake one and the umbrella, youâll never know. I once had an accident that the motorcyclist hit me but we were both found at fault for inattention. At that time I had carried insurance from college, very minimal, the motorcyclist didnât get paid enough, I felt really bad, so from then on, I rather pay more for insurance. There has never any debate, I consider that a small amount for peace of mind. I know my neighbor did not pay for earthquake insurance base on his own calculations.</p>
<p>Exactly! You pay for the peace of mind buying insurance. In my case with homeowners, I donât think I am getting anything. I could lose all but it wonât affect me. What i lose I couldnât buy back with money.</p>
<p>@Iglooo, liability insurance is as, if not more, important than fire and such. People get some crazy judgments against those the jury considers to be deep pocketed.</p>
<p>Liability insurance pays for good defense attorneys, who can be very expensive, especially in any lengthy fight with big injuries. It also pays for settlements and judgments up to policy limits within terms of coverage. </p>