Reply to Reasonable estimate for Homeowners Insurance?

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Reply to "Reasonable estimate for Homeowners Insurance?"

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[quote=Anonymous]There is really no good answer to this question.  Premiums for homeowners insurance are based on a lot of factors that have nothing to do with what you pay for a house, including the insurance claims history of the house you are buying, the zip code, your own claims history, your credit score (unless you live in Maryland where insurers aren't allowed to use credit scores for homeowners insurance), etc.

The best way to get an estimate is to shop around.  When shopping around make sure that you give all the same information to the insurance companies and that you are comparing apples to apples, i.e., if you get a quote for a policy with a $1,000 deductible from one insurance company make sure that the next quote is for the same deductible.  Generally speaking, the higher your deductible, the lower your premium.  Ask for discounts for bundling your auto and umbrella policies.

Some people like to use an insurance broker to find them the best policy for the best price so consider doing that.

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