Also insured one in North Hills 2000 sq ft house built in 1960 Dwelling replacement $420,000 , $300,000 liability $1000 deductible $1027.00
Hope this is better to assist those looking for average rates quotes.
Rancho Simi Insurance has several companies to choose from 888-581-2128 or try a quote on line at
Call us with the home or email us the address we will send you a ruff estimate on the price firstname.lastname@example.org
Web Reference: http://www.ranchosimiinsurance.com
Home insurance is based on the replacement value and cost of rebuilding a home in a situation where some peril damages the structure.Fire, etc. vandalism,etc.
The cost is usually based on the price of lumber, labor, and variousd factors from your zip code area.
You need an agent that can assist you in understanding the value of proper insurance property valuation, not only appraised value.
Homeowner's insurance costs depend on the ff: a) square footage of the house b) year built c) electrical and other updates d)fire or earthquake zone e) flood zone f)zip code and other factors that are unique to that property. The average for a 1,500 sq ft. home is around $800.00
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As a lender, I typically use a factor of .35 X loan amount for estimating insurance premium. This has always been common practice in the mortgage industry; however, I can no longer rely heavily on this estimate. At times, the sales price, or appraised value is much, much less that the cost of replacement, In that case, there is a good chance the lender will require increased coverage. There is a lot of variance in coverages and premiums, I would get estimates from at least three agents/companies. Of course, if you are active or inactive military...I have never seen better premiums or service that USAA. The company is golden for every client I have ever had who worked with them.
Over 1 Billion Sold
David Krecker, BSBA, SRA, MRA
Centuryside Real Estate Inc.
Broker/Owner/State License Appraiser
Serving the areas of Orange County, Los Angeles County, San Bernardino, and Riverside.
Your real estate agent should be able to give you a couple of references to call. If you need add'l references, please do not hesitate to call or email me.