Anonymous wrote:Ours is $2600 with Erie. $2500 deductible on a replacement cost value of $1.3M

I have feeling we are getting ripped off. Zero claims

We are slightly higher than you with Erie. $3100 on a replacement cost value of $1.5

We decided to with Erie because they don't cap on replacement/rebuild.

Anonymous wrote:

Anonymous wrote:We pay $1600 for a $2 million house. We have the highest deductible possible since we'll never claim unless there is something like a fire.

You are way under insured.

Yep, we definitely couldn't rebuild to the standard of the neighborhood where new houses go for $3-$5 million. We actually do have a rider to build at a higher value than the current house though. Finding good insurance has been a big problem for us and our neighbors in tear-down houses where the underlying lot is so valuable and the cost of rebuilding so high.

Anonymous wrote:Ours is $2600 with Erie. $2500 deductible on a replacement cost value of $1.3M

I have feeling we are getting ripped off. Zero claims

I'm at 1175 for 550k home. Also zero claims. Even with increased land value, 2500 is more appropriate for a million plus home.

Ours is $2600 with Erie. $2500 deductible on a replacement cost value of $1.3M

I have feeling we are getting ripped off. Zero claims

Anonymous wrote:We pay $1600 for a $2 million house. We have the highest deductible possible since we'll never claim unless there is something like a fire.

You are way under insured.

Jesus. I'm getting screwed I pay $1600 a year for a 500k home in MoCo.

Anonymous wrote:










We pay $1,050 for a $1.2 million rowhouse in DC.

OP, remember, insurance is to cover the replacement cost of the house, and excludes the cost of the land.

So in our case, the cost of rebuilding our house is relatively low - most of our home value is land value.

If you have a big house in a place where land is cheap, your home value may be the same $1.2 million as ours - but most of that is house value, not land - so your insurance will be higher.

Land doesn't get rebuilt in a claim. 1050 is based on what coverage you have for the building and contents: deductble, covered perils, replacement cost [finsihes, square footage etc].

Did you get a renewal in 2022? Mine went up 14% - basically because of the cost of construction. Not all policies are full replacement cost-it might be a rider. When we last shopped insurance to get full replacement cost it meant an agent to the house taking massive numbers of photos to document everything. Custom solid wood cabinets v builder grade is evn in that.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is home issuance?

Insurance! Come on. I think we pay around $1400 for a $2m house in Arlington.

Not PP, but I think it’s fair to ask what “issuance” is, since it appears in both the title and body of the post and does not seem to be a typo.

Wow! How do people function in life if they can't even figure out the OP was talking about insurance?

Not either PP, but repeated typos can make you wonder that they are talking about something you don't know about or it's a foreign way of phrasing another concept. And there are also sorts of things real estate that I've never heard of around taxes, financing and whatnot. I would have guessed they meant insurance, but I wouldn't have been certain.

Maybe if you are the first person commenting (you should still be able to figure it out, doesn't take a lot of critical thinking skills to solve this mystery), but when 3 other people post about insurance and you still can't figure it out and have to post asking what is home issuance?

Or, because 3 people posted on that and the OP hasn't yet responded, a person could check in and see if they really meant something else.

We pay $1,050 for a $1.2 million rowhouse in DC.

OP, remember, insurance is to cover the replacement cost of the house, and excludes the cost of the land.

So in our case, the cost of rebuilding our house is relatively low - most of our home value is land value.

If you have a big house in a place where land is cheap, your home value may be the same $1.2 million as ours - but most of that is house value, not land - so your insurance will be higher.

We pay $1600 for a $2 million house. We have the highest deductible possible since we'll never claim unless there is something like a fire.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is home issuance?

Insurance! Come on. I think we pay around $1400 for a $2m house in Arlington.

Not PP, but I think it’s fair to ask what “issuance” is, since it appears in both the title and body of the post and does not seem to be a typo.

Wow! How do people function in life if they can't even figure out the OP was talking about insurance?

Not either PP, but repeated typos can make you wonder that they are talking about something you don't know about or it's a foreign way of phrasing another concept. And there are also sorts of things real estate that I've never heard of around taxes, financing and whatnot. I would have guessed they meant insurance, but I wouldn't have been certain.

Maybe if you are the first person commenting (you should still be able to figure it out, doesn't take a lot of critical thinking skills to solve this mystery), but when 3 other people post about insurance and you still can't figure it out and have to post asking what is home issuance?

DP. Good points.

But OP is a dummy. First, they can't spell insurance. Second, their insurance tripled and they are only now looking at alternatives? Third, they are asking for recommendations on home insurance companies from people who do not even have a similar value or age of home to their own.