I live in north Texas, where hailstorms are common. I just received my renewal notice for my Traveler's home insurance policy, and they've increased the premium from $3,800 to $4,800 and doubled my deductible from 1% to 2%. They value my home at $458,000 and offer Total Replacement Cost for my roof, which was last replaced in 2016.
I have also looked into Amica, and they are offering a home insurance policy with a $3,000 yearly premium and a 1% deductible. They value my home at $360,000 but include a 30% overage, bringing the coverage up to $468,000. However, they only provide Actual Cash Value for the roof.
I am having trouble making an apples-to-apples comparison of these policies to determine the best option. Both include bundled auto insurance, but let's focus on the home insurance for sake of clarity.
Any advice would be greatly appreciated!
Help comparing apples to oranges home insurance policies
byu/neatgeek83 inInsurance
Posted by neatgeek83
2 Comments
You’re in luck
Texas has something called OPIC that compares policies side by side for you
https://www.opic.texas.gov/resources/policy-comparison-tool/
there is a such a thing called analysis paralysis so take stock of your biggest concerns first
It’s unlikely either one will cover your roof with those deductibles. I would ask Amica to quote an equivalent value of the home. Good luck