If I buy a home in Port Richey how much the insurance will be (1100 sq ft 2 bed rooms 2 bath)

Asked by Lambros, Sun Aug 12, 2007

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Sylvia Barry,…, Agent, Marin, CA
Mon Aug 13, 2007
In addition to what Ellen has already said, a couple other things -

1) I recommended that you get Replacement Value policy instead of actual cash value policy so you can get your lost/damanged property replaced with like kind property.

2) You also want to make sure your insurance company has a high rating on their service and financial strength - A.M. Best provides rating for all Insurance companies.

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Ellen Chung, , San Mateo, CA
Sun Aug 12, 2007
When calculating your total financial liabilities with your home here, we generally use an estimate of 0.35% of your purchase price. So for example, if you are buying a home for $300,000, then your annual insurance premium will be around $1,050 or $87.50 per month. However, keep in mind these are just estimates. Depending on which insurance company you decide to go with and whether you want additional coverages, your insurance premium could be higher or it could be lower.

Try giving your local insurance companies a call to get quotes. Make sure to remember to give the insurance company that provides you auto insurance or any other type of insurance as well, since they usually provide existing members discounts when adding other types of insurance policies with them. If you don't have the time to research and shop the rates, try contacting a local insurance broker who can find quotes for you. Keep in mind though that there are certain insurance companies that do not work with brokers so you may be missing a couple companies when going through a broker. Good luck!
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Pam Winterba…, Agent, Danville, VA
Sun Aug 12, 2007
Lambros.....You may want to check with an insurance agent in your area. In addition to the specifics of the property the insurance agent will run a CLUE Report on the property (this report checks on claims filed to the property within the last 5 years) and a background check on the buyer. I hope this helps. Good luck.
Web Reference:  http://pamwinterbauer.com
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