My insurance broker called me last week to say that my insurance renewal should be in the mail but not to pay is it as they were shopping it around. I should have known that meant it went up. Got the policy today and it went up 10%! While I am shopping this around, should I make any changes to my policy? Located in Pennsylvania
1. Home - 1386 annually, 1k deductible, paid 425k for home
-Home will be paid off in December - does that change anything? It also had the roof and hvac replaced in the last three years so not a lot of end of life items.
-Property location limit - 962k (200% of estimated residence value), does that seem high? We do have 6 outbuildings on the property
-Fair rental value and identity fraud included
-Mine subsidence of 482k
-Personal liability of 300k
-Biological irritants, contaminants or spores 50k included
-Medical expenses 5k
2. First car - 2009 paid off Honda Civic - 888 annually
This car is barely used as we carpool to work when we have to go in
-Bodily injury: 100k per person, 300k per accident
-Property damage: 100k per accident
-Full Tort
-Uninsured motorist, stacked: 100k/300k
-Underinsured motorist, stacked: 100k/300k
-Added first party medical: 10k
-Comprehensive deductible: 250 - feels like I should make this much higher right?
-Collision deductible: 500 - increase this as well correct?
-Towing $75
3. Second car - 2015 paid off Subaru Forester - 756 annually
Same coverage as above. Any idea why this one would cost less if it's a more expensive car that is used more often?
4. Personal 1 million umbrella, 235 annually
-1 million each occurrence, 2 million annual aggregate limit
What changes should I make to my policies as I shop them? And are these reasonable prices? We've been with the company for four years now and it goes up every year!