We're in contract for a house in Monmouth County (very excited) and shopping around for home insurance. I've checked the big names like Progressive, All-State, etc and they are all coming in around $3000-$3200 per year. My lender recommended one called Selective that came in at around $2000. I'm not familiar with them. Anyone have or have used them and could share their experiences?
Comments
Digi-Fu OP t1_jdolt38 wrote
It's a 3200 sq ft property, with an indoor pool. Property value is similar, def not 7 figures but close. Its not in a flood zone and I don't have any pets. I'm not sure why its so high with the ones I listed.
Appreciate the insight and feedback.
Deadhead602 t1_jdkima9 wrote
Selective has been around for a while. Before moving to Florida, I had them for my house for over 20yrs. I had no issues and had low deductibles $500. They were even cheaper with better coverage than NJM
Digi-Fu OP t1_jdolu4x wrote
Thank you. :)
Beernuts0 t1_jdngf0v wrote
I'm an insurance agent in NJ. I try to put EVERYONE I quote with selective if I can.
They have some of the best programs and discounts if being quoted properly.
Make sure you ask for the selective edge endorsement.
Pay their claims quickly and customer service when you call in is great. You shouldn't normally wait longer then 5 minutes.
Digi-Fu OP t1_jdomb2z wrote
Thanks for the heads up about that. The quote I received was without the Edge Endorsement since I didn't include auto but I'm going to follow up about their umbrella packages.
Beernuts0 t1_jdr5948 wrote
You should consider bundling. I've seen discounts of $400 off the auto and $200 off the home.
Umbrella your auto policy needs to be at least 250/500.
Make sure your liability is at least 500k and you have a decent amount of sewer/water backup coverage.
Get service line endorsement as well.
They have identity theft coverage of 25k and it's $9 a year.
All in all a great product.
Deardog t1_jdm142d wrote
Can also recommend Selective.
Linenoise77 t1_jdkbp4e wrote
read the policy, that is what matters.
Like all things, you get what you pay for. When you need your insurance, especially on a home, its not something you want to dick around with. If they are undercutting the real names by THAT much its more than just a lower marketing budget.
Also make sure they meet your lenders requirements or you can have stuff go tits up at the closing table, and find yourself on the hook for stuff.
I've had "discount" insurance when i was younger, and a claim was a giant headache, and then they told me to bend over and squeel like a pig when renewal time came up.
I have "good" insurance now (not the cheapest guy on the block, good company and agent), and had to do an auto claim last year, and it was the smoothest, easiest process ever. "Send us a few pictures, go get an estimate from someone you like, fire it on over, and a check will be in the mail"
Like, i'm pretty sure i came out ahead of the game despite my wife being 100% at fault backing into something, and my rates actually went down when we renewed, despite the claim.
Edit: also 3k seems high, unless your house is worth well over 7 figures, or it includes stuff like flood. I don't pay close to that and i'm in the north with a property value scratching 7 figures. I want to say we pay about 2k.