How much do you pay for homeowners insurance? I think I'm getting ripped off

[Anonymous]

Our premium has gone up significantly the past few years and we were just charged $1750 for our premium for the year. Our house is worth about $1 million. We have nothing other than normal insurance - no extra flood insurance, no extras in terms of replacement value. We have an alarm system, fire extinguishers, etc. House is 2200 square feet in McLean. A few years ago we were paying $1,100, so it's gone up significantly.

What are others paying? Is it just me, or is $1750 too high? Would also appreciate any recommendations for a more affordable company. TYIA.

[Anonymous]

Call the comapny that does your auto insurance and get a quote.

Insurance in general has gone up a lot lately, but worth shopping around.

[Anonymous]

Ours is $1200 for a row house in DC that is worth about $800k but has a replacement value of about $300k (cost to rebuild).

[Anonymous]

Ours is 1K for 1 million house rebuild cost, using erie

[Anonymous]

That's a bit higher than we're paying, but there's really only one way for you to find out, and it's very easy: Get quotes for an identical policy from other companies. homeowner insurance quote: http://lmgtfy.com/?q=homeowner+insurance+quote

[Anonymous]

Ours is $850 for a 650k house that's 3500 sq ft.

[Anonymous]

Our McLean town house is a about the same size like yours. It is about 1M. This is our first year with Erie for both cars & home. It is about $750 for the house ins (Guaranteed Replacement Cost & deductible $2.5K). If we did not have cars ins with Erie & just home ins, the price for home ins is 1K. The agent got us the best deals. I could not get any deal better than her by contacting companies by myself.

[Anonymous]

Anonymous wrote:Our premium has gone up significantly the past few years and we were just charged $1750 for our premium for the year. Our house is worth about $1 million. We have nothing other than normal insurance - no extra flood insurance, no extras in terms of replacement value. We have an alarm system, fire extinguishers, etc. House is 2200 square feet in McLean. A few years ago we were paying $1,100, so it's gone up significantly.

What are others paying? Is it just me, or is $1750 too high? Would also appreciate any recommendations for a more affordable company. TYIA.

Which company is this? USAA tried to charge us way too much so we switched to erie.

[Anonymous]

The market value of the house is irrelevant - replacement cost and contents is what matters. Shop around for a better deal.

[Anonymous]

I think we are 1700 for Erie for the replacement value of our house in Bethesda (close-in). It is 3200 ft plus a detached garage.

[Anonymous]

We are paying $1150 for a 3,000 sq foot house valued at about $900k. Just switched from Travelers to Allstate.

Travelers did the same thing to us...over time the premium just kept creeping higher for no good reason (no claims). So we got other estimates and switched.

[Anonymous]

You're over paying. We pay $1100 a year for a large DC row home, but our policy is a high-value policy which will replace everything, including our ornate wordwork. Shop around.

[Anonymous]

$1100 for a 3000sqft house in NW DC valued around $1.2 million.

[Anonymous]

$615 for a small three bedroom in Arlington. This is with a high deductible ($1k I think). The insurance covers replacement cost, and my house is small and basic and so that keeps the cost lower.

[Anonymous]

Anonymous wrote:Ours is $850 for a 650k house that's 3500 sq ft.

Same for us. We use USAA which always seems to have lower rates.