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Home Insurance Up, Then Down

May 8th, 2014 at 12:39 pm

We were notified of our homeowner's insurance increasing by about $100 for the next year. This so annoys me. I know prices of the replacement cost more, but without ever making a claim it seems unfair.

Our current premium is nearly $700, specifically $693.46. Even that is more than I prefer to pay. We do get several discounts just to get to that amount. Our deductible is $1000.

I decided to make some changes which I can do online with USAA. I increased our deductible to $2000 for all claims other than wind and hail. When you live in the midwest wind and hail are generally the most likely claims on homeowner's insurance. I also decreased the coverage on our personal belongings portion. You all have seen pictures of my house on

Text is Your Organized Friend and Link is http://yourorganizedfriend.blogspot.com/
Your Organized Friend. We really don't have a lot of stuff. So now we have coverage of $122K of belongings rather than $180K. I think this seems reasonable. Our new premium will be $668.19, which is saving us just $25 over the current premium, but over $125 if we had kept our coverages the same.

We have the $2K to meet the increased deductible IF something were to happen. I just think the odds, especially in a new home are pretty slim.

Did you have an increase in your homeowner's insurance? How about a decrease?

Posted in Saving | 1 Comments »

1 Responses to “Home Insurance Up, Then Down”

  1. snafu Says:
    May 8th, 2014 at 12:58 pm 1399553886
    1399553886

    Oh my what a huge difference in premium depending on where you live. We bundle 2 vehicles and home insurance and yet Condo insurance which only covers interior and personal effects like furniture and fittings costs $ 1,000. with $ 1K deductible. The exterior [chimney,roof, siding, landscaping etc] is covered by Condo insurance whose premium is paid via our monthly condo fees based on sf. We use an insurance agent who puts our insurance needs out to bid from the giant reinsurers every two years for the best possible rate.

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