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I’ve had three different home insurance providers, and my experience has taught me to consider more than just the lowest premium. For my small house, I saw a price range from $732 to almost $6,000 annually for the same limits. Simply defaulting to the cheapest policy might not be the best long-term strategy.
It’s important to be aware that filing claims, even seemingly small ones, can impact your future insurance options. Someone advised to avoid filing a claim if you can, because insurance companies can be “scummy,” and filing one might make you uninsurable in the future. For example, if you have $2000 in roof damage and a $2500 deductible, it might be better to pay for it yourself.
In New York, I pay about $1300 per year for a home valued at around $365k. However, premiums vary significantly depending on your location throughout the country, so what I pay might be very different from what you should expect. Not sure about California.
While online comparison tools like policygenius can be good for getting an idea of prices without spam, they might not be as helpful as a “real” agent in guiding you through the tradeoffs in coverage. They are better if you already know what you want and just need someone to compare prices.
I decided that claims processing reputation is a top priority for me, even if it means paying a bit more. While Amica wasn’t the cheapest option, I chose them because they are well-regarded and I believe they will pay out for a reasonable claim in a timely manner without punishing me for it. The peace of mind is worth the extra cost to me.
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