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Ann Said:

who has the cheapest home owner insurance in southeast Louisiana after Katrina?

We Answered:

There's no one size fits all cheapest. Some companies are cheapest on houses less than 10 years old. Some on houses more than 40 years old. Some go strictly by your credit score.

You're going to have to contact a few local agents to get quotes.

Frances Said:

What is the average cost of home owner insurance in Houston, Texas?

We Answered:

depends on the amount of the home for example my house when i purchased it was 96,000.00. so the home owners insurance is about 950 a year. its all on how much coverage you want to get say like if your house caught on fire you want to fully be able to pay for the house right. so the maximum would be best plus it covers like contents and personal property..

Joan Said:

Could I buy the Home owner insurance policy for the rental house?

We Answered:

In TX through Farmers you must get a landlord policy. If the insurance comp finds out someone else is living in the house they will not pay out if anything happens and could quite possibly cancel both your policies. It would benefit you more to get the landlord policy, it might cost more but will definitely cover if someone other than you is living in it. If you are renting it out to a stranger you have to have the landlord policy, if immediate family is living there you can keep the regular homeowners.

Mary Said:

For Home Owner Insurance purposes, is an unfinised basement included in total square footage of the house?

We Answered:

Sort of. An unfinished basement isn't included in the first part of the calculation, but there's a place to add the square footage of the unfinished area.

Insurance doesn't really CARE what the square footage of the hosue is - they care what the REPLACEMENT cost of the house is. The most accurate way to CALCULATE that replacement cost is through the square footage.

So you START with the square footage of the living areas, but add in square footage of unfinished basements, porches, patios, garages, etc. It's just added at a different RATE than the living areas. You ALSO add built ins, like a garage door opener, hot tub, etc.

Ask him to go over the replacment cost calculations with you. Let him show you step by step, how he got the number he got.

Are you upset about the premium going up, or you really think the house is valued too high? Remember, it's COST TO REBUILD. Depending on what area you live in, average cost to rebuild is about $200 per square foot of living space. Most people I talk to, want to insure the house based on MARKET VALUE, not cost to rebuild. But most policies are COST TO REBUILD. And the very few people that have a market value policy, get very, very unhappy at claims time, when a kitchen fire that costs $50,000 to repair gets them $10,000 - the market value of the portion of the kitchen that's damaged.

Jacob Said:

does home owner insurance cover tree branches breaking and need to be cut down?

We Answered:

I seriously doubt that it will be covered by insurance. It's considered maintenance. Now if the tree limb had damaged something, they would pay to repair that damage minus the deductible.

Do not attempt this on your own. Especially with the power lines so close. Death is a real possibility here. Not all tree trimmers are certified to work around power lines. Some can trim trees around the lines and even fewer can take a tree down that is near power lines. And you, the consumer, will pay a higher premium for that extra certification.

Any company worth their salt will come by and give you an estimate. When you call, ask if they are certified to work around power lines. Laws, rules and regulations vary from state to state. They are really strict about it here in PA.

Part of homeowner maintenance should include an inspection of all mature trees on the property for issues every couple or three years. Not only will you save claims on the homeowners insurance, your trees will be healthier and look better. Resist the urge to just have the branch taken care of if the tree is in need of other work. It probably wouldn't cost that much extra to get everything taken care of in one swoop.

But I will warn ya, it's not gonna be cheap..........

Julia Said:

should i get home insurance as a home owner or a rental ?

We Answered:

if you have a loan on the property you have to keep insurance on it anyway. i would switch to rental property insurance. it is a little cheaper and your investment will be covered if something should happen in your absence.

Louise Said:

Where I can find home owner Insurance policy for my Rental Property?

We Answered:

From the question it sounds like you are the landlord...

Call any of the major insurance players in your area and ask for a non-owner policy. This will cover your liability, the structure and a small amount for your personal property. Most landlords keep very little personal property in their rental homes however things like the stove (if it is a push in type unit) can be considered personal property since it is only coinnected to the home by the gas line and or plugged into the wall.

I have my policies with Farmers however they may not be available in the state you reside in. Also, check with whomevery your primary home is insured with or whomever you have your car insurance with. Most companies offer discounts on multiple policies and or multiple lines.

Check: State Farm, Farmers, Allstate, AAA, American Family etc... If your in CA, AZ, TX or FL I can refer you to some agents I have worked with in the past.

Good Luck

Kevin 866-562-6838 x 106
kruorock@firstratelending.com