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Looking to get Home Insurance

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Cal166

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My offer was accepted for a Townhouse and I am in the process get everything ready for settlement.

The mortgage company makes me pay for a year thru them and I still need proof of home insurance for myself during settlement??

What home insurance do you have or recommend.

Thanks
 
I would call around and get quotes from different companies.

If you're happy with your auto insurance, ask if they offer multi-policy discounts for getting homeowner's insurance as well.
 
Cal166 said:
The mortgage company makes me pay for a year thru them and I still need proof of home insurance for myself during settlement??
Click to expand...

You pick the company and your mortgage company pays the bills from your escrow account, that way they know you always have insurance. You'll pay for the first year at settlement.

Check with your car insurance company, they often have multi-policy discounts.
 
I use state farm for both auto and homeowners, and they are pretty great. In october we had a bad snow storm while the leaves were still on the trees, and we ended up having a tree limb come through our house. They had someone out that night to temporarily patch the roof, and they had someone starting the next day to fix the roof and then repair the inside of the house.
 
mugs said:
You pick the company and your mortgage company pays the bills from your escrow account, that way they know you always have insurance. You'll pay for the first year at settlement.

Check with your car insurance company, they often have multi-policy discounts.
Click to expand...

Thanks, that explains it all. I have it under Home Insurance Premium for 1year on my GFE.
 
mugs said:
You pick the company and your mortgage company pays the bills from your escrow account, that way they know you always have insurance. You'll pay for the first year at settlement.

Check with your car insurance company, they often have multi-policy discounts.
Click to expand...

Yep. I pay my insurance and property taxes thru an impound account. House+taxes+insurance is rolled in to one payment. It was an optional thing but has worked well for me so far.
 
MrChad said:
If you're happy with your auto insurance, ask if they offer multi-policy discounts for getting homeowner's insurance as well.
Click to expand...

this, call your auto insurance and see what they have, even auto ins. companies that don't directly sell home ins. have referral deals for multi-policy discounts ^_^
 
The key is to shop around, i got the best deal for Progressive for car and home compared to geico, all statefarm, allstate nationwide. geico was 20% heigher. 8 months later I start shopping for home insurance for my second home and this time Progressive asks a ridiculous amount, roughly 30% higher to insure my 2nd home which is 40% the value of my 1st, go back to all of them again and this time geico wins, 25% less than Progressive, and 8% less than allstate. SO - after eight months everything changed, none of the quotes were anything like before. Nothing changes from my side at all- job income credit score education driving history all exactly same... So i concluded that Insurance quotes are never the same and you can never say for sure where you gonna get the best deal and almost same goes for the claims too... So shop around.
 
Condo / townhouse insurance should be cheaper than house insurance because you are only insuring the inside of structure, valuables, and possibility liability coverage.

Master insurance for condo community should already cover outside structure, I believe.

How much of your personal belongings you want to insure, plus increased liability protection, will probably change quote the most.
 
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I've got Geico for home and auto. Home is about $490 a year, car is about $390 every six months.
 
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