Insurance Costs

MAXUM · 06-03-2019, 05:13 PM

The insurance company is just looking at what you got and assessing the risk and weighing that against the value of what's insured. Keep in mind they don't care about the value of the property as a package, most waterfront there is huge value in the land itself. They care about the building and contents.

For me being on an actual island my insurance co wrote me up a catastrophic policy essentially we put a price tag on the value of the building and contents, they weighted the fact it's seasonal, had me send a bunch of pics from the electrical service to the foundation piers, and underwrote the policy based on the risk which they rate as high all things considered. Was kind of funny to answer questions like I have no drive way, the nearest fire hydrant is right out front with an endless water supply, but in the end estimating response times and access I get why they gave me the policy they did.

FLL is right I insure EVERYTHING with one company and they give me steep discounts. Also pay attention to the actual coverage you carry as it can effect an umbrella policy if you carry one.

tummyman · 06-03-2019, 06:26 PM

Call Gail Dascoulias at Cross Insurance-Meredith. 603-279-8122. I think $1500 sounds very expensive for a seasonal cottage. We are half that amount. Look at the amount of the deductibles.....can really make a difference in premiums. We've been with Cross for a very very long time and never had any issues. Only insure the seasonal cottage....

Wifi-1 · 06-03-2019, 07:35 PM

My (less than premium) full-time lakefront house with a $1M umbrella totals out to about that cost. Cross with Concord Mutual, and of course keep it in one company to max discounts..... lolol.

ishoot308 · 06-03-2019, 07:41 PM

$1000.00 for our seasonal island cottage. State Farm is our carrier.

TheProfessor · 06-03-2019, 08:59 PM

Quote:

Originally Posted by tummyman

Call Gail Dascoulias at Cross Insurance-Meredith. 603-279-8122. I think $1500 sounds very expensive for a seasonal cottage. We are half that amount. Look at the amount of the deductibles.....can really make a difference in premiums. We've been with Cross for a very very long time and never had any issues. Only insure the seasonal cottage....

Oh yes. I called them all. Visited many.
As I was advised that my homeowners was too 'high'.

All agencies, all companies, the best anyone could do was an $8.00 annual savings. All others were MORE then what I was paying.

That is for the exact same coverage. Of course, if lower coverage, higher deductible, price does change a little.

If one does change companies be prepared for a visit to home from the new insurance company. Make sure home is in acceptable condition determined by new insurance company. Make sure that gas grille cooking grille is off the wood deck.

Once name of person on policy is given all agencies know exactly what the current annual cost is. Make sure to have a good credit report score also.

ApS · 06-04-2019, 02:40 AM

Quote:

Originally Posted by tummyman

Call Gail Dascoulias at Cross Insurance-Meredith. 603-279-8122. I think $1500 sounds very expensive for a seasonal cottage.
We are half that amount. Look at the amount of the deductibles.....can really make a difference in premiums. We've been with Cross for a very very long time and never had any issues. Only insure the seasonal cottage....

We are LESS than one-third of that amount!

What are we doing wrong?

06-03-2019, 07:41 PM	#4
ishoot308 Senior Member Join Date: Feb 2008 Location: Gilford, NH / Welch Island Posts: 6,537 Thanks: 2,455 Thanked 5,468 Times in 2,143 Posts	State Farm $1000.00 for our seasonal island cottage. State Farm is our carrier. __________________ It's Always Sunny On Welch Island!!

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06-03-2019, 05:13 PM	#1
MAXUM Senior Member Join Date: Apr 2004 Location: Kuna ID Posts: 2,755 Thanks: 244 Thanked 1,942 Times in 802 Posts	The insurance company is just looking at what you got and assessing the risk and weighing that against the value of what's insured. Keep in mind they don't care about the value of the property as a package, most waterfront there is huge value in the land itself. They care about the building and contents. For me being on an actual island my insurance co wrote me up a catastrophic policy essentially we put a price tag on the value of the building and contents, they weighted the fact it's seasonal, had me send a bunch of pics from the electrical service to the foundation piers, and underwrote the policy based on the risk which they rate as high all things considered. Was kind of funny to answer questions like I have no drive way, the nearest fire hydrant is right out front with an endless water supply, but in the end estimating response times and access I get why they gave me the policy they did. FLL is right I insure EVERYTHING with one company and they give me steep discounts. Also pay attention to the actual coverage you carry as it can effect an umbrella policy if you carry one.

06-03-2019, 06:26 PM	#2
tummyman Senior Member Join Date: Aug 2009 Location: Moultonborough Posts: 889 Thanks: 279 Thanked 764 Times in 271 Posts	Call Gail Dascoulias at Cross Insurance-Meredith. 603-279-8122. I think $1500 sounds very expensive for a seasonal cottage. We are half that amount. Look at the amount of the deductibles.....can really make a difference in premiums. We've been with Cross for a very very long time and never had any issues. Only insure the seasonal cottage....

06-03-2019, 07:35 PM	#3
Wifi-1 Senior Member Join Date: May 2019 Location: Moultonboro, NH Posts: 211 Thanks: 181 Thanked 87 Times in 57 Posts	My (less than premium) full-time lakefront house with a $1M umbrella totals out to about that cost. Cross with Concord Mutual, and of course keep it in one company to max discounts..... lolol.