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Author: comptche Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 17953  
Subject: Home Insurance Companies Date: 3/31/2013 9:16 PM
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Hi Experts,

My husband and I own our own home plus three rentals on one lot and also have three vehicles. Currently we have all of these things insured with Farmers in California.

We had a really bad experience a few years ago and had to jump ship from our 40 year company, Allstate. They, at the last minute before our policy was due to be paid for the year, asked us to move our propane container farther from the house than local regulations, cut trees near our house and trim all other trees up 6 feet from the ground... then send them pictures to prove we had done that. At a big cost in labor, chipping and time, we did all of this within one week and sent them our pictures by email. They cancelled our insurance saying that their inspector could not visit our property quickly enough to verify what had been done. We went into town and got Farmer's Insurance and then called and lodged a complaint with the State of California. The next day, Allstate called to reinstate the insurance. We told them no thanks!

It is now renewal time again and we have gotten an increase of 7.21% on our premium, but one thing has changed drastically on the policy... Adjusted Estimate. Last year it was $471,000 and this year it is $393,000. We once knew what Adjusted Estimate is when we were sitting in the insurance office, but today we don't.

Should we continue with Farmers or should we shop around. Our concern is that many companies are getting out of insuring homes, especially when the home is in a forested area. What are the best and most customer friendly Insurance Companies for us in California in the forest? How do we get a Glossary of terms? How do we know how much insurance to carry... is it always by the cost of rebuilding, so much per square foot? How do we know that cost in our immediate area? Is it possible to not rebuild and take the money to do something else? We are getting older and may not want to spend a year or so rebuilding...

How do we negotiate the unknowns?

Thank you, Anne
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Author: GeeBeeNC Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17740 of 17953
Subject: Re: Home Insurance Companies Date: 4/2/2013 11:03 AM
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I don't know the answer to your question but I can tell you that Farmer's did get out of the home insurance business in North Carolina because of wind risk.

GeeB

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Author: akck Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17741 of 17953
Subject: Re: Home Insurance Companies Date: 4/2/2013 11:25 AM
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I was with Allstate for years and out homeowners has been slowly creeping up over the last several years after being stable for years. This year I decided to shop around since our auto policy was coming up. I first checked with Geico, Progressive, and State Farm, and all would have saved a couple of hundred $$. I gave my independent insurance agent a shot before changing and they were able to cut 40-45% off the homeowners and 35-40% off our auto by going with Safeco.

I'd at least check what others are offering and if you can combine policies, you might get a discount.

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Author: NoIDAtAll Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17742 of 17953
Subject: Re: Home Insurance Companies Date: 4/2/2013 1:02 PM
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Amica and USAA have good reputations for consumer satisfaction. (USAA requires a military background.)

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Author: comptche Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17744 of 17953
Subject: Re: Home Insurance Companies Date: 4/7/2013 11:08 PM
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Thanks to all of you. The most important thing I am taking away is that I should go to an independent insurance broker. Now, why didn't I think of that since our son is an independent loan broker...

Anne

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