Vice President/Agent, Best Rates Insurance Inc, Kalispell Montana
There are many factors when it comes to rating a home a home. From the type of home ( Stick Frame to Log home)
Also how far away you are from a fire department. Your credit plays a factor also. The age of the home and if you have had any prior losses. Also each carrier uses a different rating factor so the rates can be VERY different . Also you need to know if the policy is a replacement cost policy or actual cash value policy this also makes a difference.
In Montana I have insured Log home worth $500,000 for as little as $1000 a year with full replacement cost and low deductibles But I also have insured a Stick frame home which was worth $200,000 for the same price with a different carrier. I have also seen homes work much more for even less for insurance.
the best thing you can do is shop around it can be time consuming but you need to make sure that you are properly covered it is not always about the rate. almost 57% of the home in the United States are under Insured in the event of a total loss you could be left with a hole in the ground and the bank paid off but no money to rebuild. It is very important to make sure that you understand your coverage and that you TRUST your agent .
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Also how far away you are from a fire department. Your credit plays a factor also. The age of the home and if you have had any prior losses. Also each carrier uses a different rating factor so the rates can be VERY different . Also you need to know if the policy is a replacement cost policy or actual cash value policy this also makes a difference.
In Montana I have insured Log home worth $500,000 for as little as $1000 a year with full replacement cost and low deductibles But I also have insured a Stick frame home which was worth $200,000 for the same price with a different carrier. I have also seen homes work much more for even less for insurance.
the best thing you can do is shop around it can be time consuming but you need to make sure that you are properly covered it is not always about the rate. almost 57% of the home in the United States are under Insured in the event of a total loss you could be left with a hole in the ground and the bank paid off but no money to rebuild. It is very important to make sure that you understand your coverage and that you TRUST your agent .