Shopping for Homeowners Insurance
When we purchased our new home I called both of our insurance companies and received quotes for a new homeowner's policy. With some much going on since we have been married I never got a chance to start consolidating our insurance policies, and I decided now wasn't the time as the home purchase kept my hands full.
However, I did get referred to an independant insurance agent to get a 3rd quote for our policy.
Here are the results for equivalent policies:
State Farm: $649 $1,500 deductible
Farm Bureau: $589 $1,500 deductible
Erie Insurance: $461 $1,000 deductible + $70 for separate liability policy to make equivalent.
Erie had by far a much better offering with a fuller homeowners policy coverage and I jumped on it. I had never heard of the company before, but I checked on the NC Department of Insurance agency's web site and found their 2007 complant ratios. I confirmed they had a large share of the homeowners insurance market in NC (top 10) and their complaint ratio was reasonable. So far so good! I will have to remember if the rates on our homeowners coverage rise significantly I could revert back to the more stripped down homeowner's policy that should be cheaper.
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