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AJ92411
LIF Zygote
Member since 10/12 29 total posts
Name:
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Homeowners Insurance
So... We are (fingers crossed) finally getting into a home, and I've started to look into homeowners insurance just to see about where we would be at...
I'm getting the most RIDICULOUS quotes! Our house about 6 miles from the water (hauppauge - smack dab in the middle of the island), no pool, about .35 acres flat property, security alarm and all the property fire codes... I'm getting quotes for like $2500 - $3000 for the year!!
Is anyone else getting these ridiculous quotes?? I just don't get it!
I'm new to all this home stuff, so any advice is appreciated! TIA!
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Posted 2/1/13 4:27 PM  |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Homeowners Insurance
My house is under $1000 for the year, I live mid-island but a block from the lake (not sure if that makes a difference since it's just a lake), and I have a pool. My property isn't that big. I'd keep shopping around or maybe hit up a broker. Did you try the same company that you get your auto insurance from?
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| Posted 2/1/13 4:50 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Homeowners Insurance
That sounds high. We are in Commack, (on the border of Hauppauge) about the same size property, and pay $1700, which I think we need to shop around for a better price. How big is your house? (Ours is 4 BR, 2 1/2 bath, full basement, LR, DR, Den)
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| Posted 2/1/13 4:59 PM |
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Homeowners Insurance
I would be happy to run a couple quotes for you. I am not sure what carriers you have obtained the quotes through already, but it doesn't hurt to shop. You can email me here or [email protected]
Good Luck!
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| Posted 2/1/13 5:29 PM |
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Homeowners Insurance
That's so frustrating. Part of the problem is that there is a real lack of competition on Long Island. Many insurance companies that have historically insured homes here are trying to pull out of the market (State Farm is one that comes to mind). As a result there are only a few companies issuing new policies to existing customers when they buy a new home and even fewer companies issuing new policies to new customers. Narraganset (a subsidiary of Geico) is the only one I know off the top of my head.
The result is that homeowners insurance is quite high if you are looking for a new policy. Our first year our homeowners premium was $2400 a year, for a modest house less than a mile from Huntington Bay. The good news is that after the first year, it went down substantially and is now closer to $1700 a year, but I remember having a heart attack followed by a panic attack when I heard that $2400 was our best rate.
In any event, it's always good to work with a broker to make sure you're getting the best rate!
Message edited 2/1/2013 5:35:10 PM.
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| Posted 2/1/13 5:30 PM |
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Lauren82
LIF Adult
Member since 10/06 4580 total posts
Name:
L
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Re: Homeowners Insurance
I use Narragansett Bay and pay significantly less than that...I would shop around for sure!
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| Posted 2/1/13 6:23 PM |
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Shroggie
Don't Worry...Be Happy
Member since 5/06 6261 total posts
Name:
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Re: Homeowners Insurance
Posted by Lauren82
I use Narragansett Bay and pay significantly less than that...I would shop around for sure!
Same here. I pay under $1000 for the year and that's in Massapequa a few blocks north of Merrick Rd.
Fingers crossed it doesn't go up this year!
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| Posted 2/1/13 6:39 PM |
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Lauren82
LIF Adult
Member since 10/06 4580 total posts
Name:
L
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Re: Homeowners Insurance
Posted by Shroggie
Posted by Lauren82
I use Narragansett Bay and pay significantly less than that...I would shop around for sure!
Same here. I pay under $1000 for the year and that's in Massapequa a few blocks north of Merrick Rd.
Fingers crossed it doesn't go up this year!
Mine renewed in November and didn't go up at all.
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| Posted 2/1/13 7:01 PM |
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JMG2010
LIF Toddler
Member since 8/12 401 total posts
Name:
Jessica
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Re: Homeowners Insurance
We live in East Islip just south of Sunrise and we pay $950.00 for the year. We have State Farm.
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| Posted 2/1/13 10:01 PM |
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Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
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Re: Homeowners Insurance
You have to take many factors into how much each person pays vs. what you might.
- The Dwelling (House) limit of Insurance.
- Liability Limits
- Deductible ( How much comes out of your pocket in a loss)
- Coverage!! people sometimes only look at $$ but what are you getting? Example, during Sandy you lost power but had no damage to your home was freezing so you packed up your family and went to a Hotel...Would you get your $ back? This is of course 1 situation, but kind of......"You get what you pay for"
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| Posted 2/1/13 10:57 PM |
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cantwait84
LIF Infant
Member since 5/08 106 total posts
Name:
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Re: Homeowners Insurance
I called to get a quote for Narraganset bay and I don't think their writing policies depending on where you are. We got two quotes one from geico and one from usaa and neither were above 1250. But we are also asking for very minimal coverage.
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| Posted 2/2/13 8:33 AM |
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WannaBeAMom11
LIF Adult
Member since 1/11 7391 total posts
Name:
Name
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Homeowners Insurance
Also go to a broker. We went to Atlantic insurance and we got a great rate.
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| Posted 2/2/13 11:36 PM |
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AJ92411
LIF Zygote
Member since 10/12 29 total posts
Name:
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Re: Homeowners Insurance
Thanks everyone! Our house is 2200 sq feet ranch. No pool in backyard. It's on a quiet block about 6 miles from the sound (which is far considering li is only 17 miles wide!) it's so frustrating to know that because of Sandy all of Long Island is affected by insurance rates when most of the island did not flood.
I'll definitely shop around and will call those companies you all recommended. If anyone has other recommendations please let me know!
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| Posted 2/3/13 8:50 AM |
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AJ92411
LIF Zygote
Member since 10/12 29 total posts
Name:
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Re: Homeowners Insurance
Posted by WannaBeAMom11
Also go to a broker. We went to Atlantic insurance and we got a great rate.
What's a broker? Sorry - I'm new to all this house stuff! 
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| Posted 2/3/13 8:51 AM |
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AJ92411
LIF Zygote
Member since 10/12 29 total posts
Name:
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Re: Homeowners Insurance
Posted by ElizaRags35
My house is under $1000 for the year, I live mid-island but a block from the lake (not sure if that makes a difference since it's just a lake), and I have a pool. My property isn't that big. I'd keep shopping around or maybe hit up a broker. Did you try the same company that you get your auto insurance from?
Yes-geico. $2400 a year!
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| Posted 2/3/13 8:55 AM |
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Pray4Baby2010
<3 Cutest Giants Fan
Member since 10/09 5796 total posts
Name:
MB
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Re: Homeowners Insurance
We just switched to keeper through aaa and saved $400- they are a broker meaning they can shop you and get you the best rate through several of their partner insurance companies
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| Posted 2/3/13 6:09 PM |
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AKD
LIF Adult
Member since 1/12 2637 total posts
Name:
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Re: Homeowners Insurance
We went with Amica - ours is under $1000 a year - we're in Floral Park so not near water, but might help to just get some estimates! Goodluck!
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| Posted 2/3/13 9:01 PM |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Re: Homeowners Insurance
Posted by AJ92411
Posted by ElizaRags35
My house is under $1000 for the year, I live mid-island but a block from the lake (not sure if that makes a difference since it's just a lake), and I have a pool. My property isn't that big. I'd keep shopping around or maybe hit up a broker. Did you try the same company that you get your auto insurance from?
Yes-geico. $2400 a year!
Mine is through USAA, same as my auto insurance, and we pay $1500 LESS than that quote.
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| Posted 2/3/13 10:11 PM |
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ny55angel
car seat tech & geek :-)
Member since 2/06 4346 total posts
Name:
P
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Re: Homeowners Insurance
Posted by AJ92411
Posted by WannaBeAMom11
Also go to a broker. We went to Atlantic insurance and we got a great rate.
What's a broker? Sorry - I'm new to all this house stuff!
A broker is someone who has affiliations with multiple insurance companies, some of which do not deal directly with the public so you wouldn't be able to get a quote through them without a broker. The broker cam compare companies and get you the best rate available.
One thing to keep in mind when shopping for insurance...make sure you are getting an "apples to apples" comparison. Some companies might give you a quote with the bare minimal coverage you need in order to "land" the policy. Another good thing about using a broker is they are working for you, so they have your best interests in mind and will make sure you have an adequate amount of insurance.
Companies not wanting to insure LI homes started way before Sandy, and Irene for that matter. It's a liability they don't want in case of something happening (like Irene and sandy, or worse)
Also, insurance prices tend to go up a little bit every year regardless of anything happening because of cost of reconstruction increases or internal budget increases (they have to get the money from somewhere). It's a sad fact.
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| Posted 2/4/13 8:19 AM |
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AJ92411
LIF Zygote
Member since 10/12 29 total posts
Name:
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Re: Homeowners Insurance
Posted by ny55angel
Posted by AJ92411
Posted by WannaBeAMom11
Also go to a broker. We went to Atlantic insurance and we got a great rate.
What's a broker? Sorry - I'm new to all this house stuff!
A broker is someone who has affiliations with multiple insurance companies, some of which do not deal directly with the public so you wouldn't be able to get a quote through them without a broker. The broker cam compare companies and get you the best rate available.
One thing to keep in mind when shopping for insurance...make sure you are getting an "apples to apples" comparison. Some companies might give you a quote with the bare minimal coverage you need in order to "land" the policy. Another good thing about using a broker is they are working for you, so they have your best interests in mind and will make sure you have an adequate amount of insurance.
Companies not wanting to insure LI homes started way before Sandy, and Irene for that matter. It's a liability they don't want in case of something happening (like Irene and sandy, or worse)
Also, insurance prices tend to go up a little bit every year regardless of anything happening because of cost of reconstruction increases or internal budget increases (they have to get the money from somewhere). It's a sad fact.
Thanks so much for your help! If anyone has recommendations for a broker, please let me know!
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| Posted 2/4/13 5:28 PM |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Re: Homeowners Insurance
Posted by AJ92411
Posted by ny55angel
Posted by AJ92411
Posted by WannaBeAMom11
Also go to a broker. We went to Atlantic insurance and we got a great rate.
What's a broker? Sorry - I'm new to all this house stuff!
A broker is someone who has affiliations with multiple insurance companies, some of which do not deal directly with the public so you wouldn't be able to get a quote through them without a broker. The broker cam compare companies and get you the best rate available.
One thing to keep in mind when shopping for insurance...make sure you are getting an "apples to apples" comparison. Some companies might give you a quote with the bare minimal coverage you need in order to "land" the policy. Another good thing about using a broker is they are working for you, so they have your best interests in mind and will make sure you have an adequate amount of insurance.
Companies not wanting to insure LI homes started way before Sandy, and Irene for that matter. It's a liability they don't want in case of something happening (like Irene and sandy, or worse)
Also, insurance prices tend to go up a little bit every year regardless of anything happening because of cost of reconstruction increases or internal budget increases (they have to get the money from somewhere). It's a sad fact.
Thanks so much for your help! If anyone has recommendations for a broker, please let me know!
Check out the 3rd reply to this thread 
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| Posted 2/4/13 5:29 PM |
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