Home insurance on a new build

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Topic Author
rhodnius
Posts: 73
Joined: Sat May 30, 2015 5:07 pm

Home insurance on a new build

Post by rhodnius »

Shopping for insurance (home, auto, umbrella) & used Policygenius. They came back w/ a quote from State Auto Insurance. For a 2,675 sq ft 5-bed, 3-bath new construction home we got $624.55 with $1k deductible, $459.19 with $5k deductible & $380.44 with $10k deductible. Never heard of the company.

1. Is that a reputable company & are the quotes ok for MI? (seems low) Should I not even shop around since there's no formal appraisal from the bank yet?

2. Do you have a guaranteed replacement cost or an extended replacement cost?

3. Do you have water sewer/backup coverage and what is a good amount to have? Basement currently unfinished if that helps.

Our first house so no idea what the average home insurance is in Michigan (low risk of earthquakes, hurricanes, floods etc; no dogs, trampolines, pool) Any input appreciated.

4. Also, do you really need Uninsured/Underinsured motorist coverage if you have good liability coverage, health insurance,comprehensive insurance etc? Stumbled upon this on a WCI blog post https://www.whitecoatinvestor.com/5-key ... %20now.%5D
fabdog
Posts: 2543
Joined: Wed Jan 16, 2013 12:59 pm
Location: Williamsburg VA

Re: Home insurance on a new build

Post by fabdog »

The search box is your friend... many threads reference the company... here's an example

viewtopic.php?t=349277

Based on that one... you may want to broaden your search. Geico, Progressive, State Farm, etc. Local agents can also often find you good deals and offer specific advice

Mike
Topic Author
rhodnius
Posts: 73
Joined: Sat May 30, 2015 5:07 pm

Re: Home insurance on a new build

Post by rhodnius »

Thank you! I'll broaden my search šŸ˜Š
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