Author Topic: Home Insurance in Colorado - how do I get the best deal?  (Read 969 times)

Tyson

  • Handlebar Stache
  • *****
  • Posts: 2384
  • Age: 47
  • Location: Denver, Colorado
Home Insurance in Colorado - how do I get the best deal?
« on: January 17, 2017, 08:16:58 PM »
OK, I've owned a home for a couple of years and we had a new roof put on this past summer because of hail damage.  So of course our premiums went up.  Now I want to shop around and see if I can get our monthly costs lowered.  I'm in Colorado, and I have no idea how to go about shopping for home insurance.  Can anyone tell me what are the major variables to look out for and if there are any disreputable companies out there that I should avoid?
« Last Edit: January 18, 2017, 09:15:42 AM by tyort1 »

Krolik

  • Stubble
  • **
  • Posts: 101
  • Age: 42
  • Location: S.Florida
Re: Home Insurance - how do I get the best deal?
« Reply #1 on: January 18, 2017, 08:15:19 AM »
We shop around for home insurance every year. I just call 3 - 4 independent insurance agents in the area and ask for quotes. This year I paid $800 less for the premium than last year by switching insurance. I am in S. Florida so homeowner insurance is VERY expensive and it really is worth to shop around.

Tyson

  • Handlebar Stache
  • *****
  • Posts: 2384
  • Age: 47
  • Location: Denver, Colorado
Re: Home Insurance in Colorado - how do I get the best deal?
« Reply #2 on: January 18, 2017, 09:15:21 AM »
I know with car insurance you can do things like go with a higher deductible or go liability only instead of full coverage and things like that to save $$. 

But with home insurance, I'm not sure what changes I could make that might (or might not) come back to bite me in the butt.  Like water damage - is that covered as flood insurance?  Or is leaks in the roof covered differently? 

How do I know if I am paying for things I don't need vs having a reasonable amount of coverage? 

ltt

  • Pencil Stache
  • ****
  • Posts: 740
Re: Home Insurance in Colorado - how do I get the best deal?
« Reply #3 on: January 18, 2017, 09:27:36 AM »
Your monthly costs will be lower if you are willing to have a higher deductible.  Another issue is, as sad as it is, is to try and pay for stuff out-of-pocket.

Our homeowners insurance is being dropped because we filed two claims this year due to major windstorms that did a lot of damage to our roof.

Our agent is looking for us but, at this point, we are probably considered high risk and our premiums are going to go through the roof--no pun intended.

Have an agent look for you, and then do the research on the internet to see if they are reputable.


Smokystache

  • Bristles
  • ***
  • Posts: 337
Re: Home Insurance in Colorado - how do I get the best deal?
« Reply #4 on: January 18, 2017, 10:07:55 AM »
Definitely check with a local insurance broker who can shop multiple companies. They often represent companies that you may never had heard of, but can be great buys (the trick is finding out which have good customer service, but that is true of all insurance companies).

For example, I had Erie Insurance for a while and some other non-household names. Wonder how those companies can charge less? Because they don't have to pay for lots of bowl-game-sponsorships and commercials featuring geckos, ducks, Flo the checkout gal, geese, Snoopy ....