Posts Tagged ‘Home Insurance’

Insurance agents are great people. They want to make sure that you buy an insurance policy that will cover you in case there is a need. Whether the need is because of weather, accident, or personal injury, it is up to an agent to ensure that you have all of your bases covered. One thing that is always suggested is to read any contract before you sign it, and an insurance policy is no different. It is a contract between the insurance company and you. Understanding exactly what that contract says may make the difference between having a policy that meets your needs, and one that leaves you liable for thousands, even hundreds of thousands of dollars in liabilities.

For instance, with all the weather-related incidents that have occurred lately, many insurance companies are no longer covering certain types of damage. Closely examining the stated coverage and what constitutes a claim can clue you in to the fact that your company may not be protecting you when it comes to wind damage, or damage from hail. Some companies will sell you coverage for all of those, but unless you’re aware you live in a flood plain, they won’t even mention the fact that you need flood insurance — let alone write it into your existing policy.

All insurance is statistics, and companies use the actuary tables to determine what the chances are that something will happen to you or your property. While the odds are almost guaranteed that something bad will happen to someone’s property today, the odds of them happening to your specific property are between slim and none, depending on where you live and other factors. Don’t expect the insurance company to charge according to those odds. Many times, they’ll do an across the board charge, regardless of the nature of the insurance policy need. These sweeping charges quite often are unneeded by most people, but because you live in a certain state, or within a certain area, an insurance company will bring a price to the table, regardless of whether the policy meets your specific needs or not.

This means that regardless of how great the insurance company is, you need a good agent to guide you through the process of signing-up for the policy. And even then, it pays to ask questions. Read the policy. Talk to the agent and point out areas where you have questions. Don’t be afraid to say “Am I covered for this?” or “If this happens, what will I be responsible for?” because that’s the job of the agent. Helping you, as his customer, to get exactly what you need to make sure that if and when something happens that you won’t lose thousands of dollars to a misfortune.

Great insurance companies use skilled agents, well-trained in insurance and schooled specifically in the insurance policies to help customers make well-informed decisions. Take your time, do it right, and you may not have to do more than an annual review because the policy will grow with you. It takes time, effort, and a bit of patience, and you, too, can have that homeowner’s insurance policy that fits your needs exactly.

You may think that when it comes to the bottom line that insurance is insurance. Sure, there are different types between auto, home, life and health, but within each genre, it really doesn’t matter. You would especially think it wouldn’t make much difference when it comes to homeowner’s insurance. If you own a home, a piece of property, etc. then any reasonably priced homeowner’s insurance should pretty much fit the bill — one size fits all. That is actually about as far from the truth as it gets. Not only are there different types of homeowner’s insurance, but there are special types of homeowners policies that are specifically for condominiums.

The best companies for homeowners insurance for a home quite often are not the best homeowner companies for condos. While you may get good rates, when it comes down to the brass tacks, a lot of times the “big boys” just don’t cover you as a homeowner sufficiently enough when it comes to the specialty market of condos and apartment life. Understanding the nuances of insurance for condos takes a company that understands the complexities of owning a condo.

Owning a condo isn’t as simple as one may think. Not only are you responsible for covering anything that may happen to your condo, under whatever circumstances like weather related damage, etc., but being connected literally to one or more condominiums as a part of the same structure complicates things in ways the average insurance company isn’t prepared to deal with. Regardless of which insurance company you go with, only the top homeowner insurance companies are going to be prepared enough to cope with those complexities.

For example, if during a storm, the roof to the condo is damaged on a duplex unit — that roof covers both units, which means that to have the roof fixed both homeowners will have to come up with their share of the responsibilities involved in replacing or repairing their part of the roof. Too often, this involves multiple insurance companies, multiple contractors and roofing companies, and unless all those involved work together to complete the repair and complete it with the same quality, then that could well cause problems down the road.

Fortunately, a really great homeowner’s insurance company understands the conundrums that situations like this pose. They’re used to having to deal with other companies and used to trying to consolidate and simplify matters so that only one contractor or roofing company is used. That way, the repair is consistent. The quality is maintained, and the value of the property isn’t affected by the decisions made by various companies trying to get out as cheaply as possible.

So sit down with your agent, and even look at resources on the internet to find an insurance company that does understand the needs of condo ownership. Those companies will not only meet or exceed those needs, but they will also have a great pricing structure. Talking to your neighbors or even the homeowner’s association (if you have one for your area) should give you quite a few good leads to pursue as well. Condo insurance doesn’t have to be difficult, and great insurance companies make sure that it is not.

We’ve worked long and hard to achieve our piece of the American Dream. Going to school to get the degree, making the effort to succeed at our jobs, and finally putting the effort into finding a home we like in a neighborhood we want to live in. We have paid our dues so we can have that American Dream. However, owning a home is only the first step to being able to relax and enjoy having a home. A key step to that process is having great homeowner’s insurance. Any company can sell you insurance, but finding the best homeowners insurance companies that have policies at a great price takes effort.

First, sit down and take a look at all the companies out there along with their policy options. Finding a policy that enables us to have the insurance we need while remaining affordable is essential. Having a great insurance agent willing to sit down with us and go over our needs makes that process virtually painless.

Next, work with your agent to see if there are available discounts because of other policies you may have with their company. This can save you hundreds of dollars per year. Your insurance agent will be more than happy to take the time to sit down with you and show you the advantages of having your car, home, life and other insurances all based from one source, enabling you to not only save money, but save paperwork and hassle when it comes time to renew.

In addition, your agent will be happy to provide information and tips about what you can do for and with your property and house to improve the rates. Whether adding an alarm system, making your home kid-proof, adding dead bolt locks and other home security measures, using a lawn care service, having periodic maintenance checks on the house and property or some other relatively inexpensive things you can do to reduce your rates, your agent has all that information available for you.

Finally, another good option is to sit down with an agent before buying a home to check out those different neighborhoods. Some neighborhoods have better insurance rates than others, and some homes have better rates based on their location. Being closer to a fire hydrant or fire station can actually reduce rates significantly, so taking the time to find out the best houses to live in can be well worth your while when it comes to insurance.

There are a lot more ways to save money on your insurance than these. By investing a little time and effort now, you can save yourself a lot of time, money and aggravation later. So, sit down with your agent and have him go over all the different ways you can save on your homeowners insurance today!

For years, you’ve been told that home insurance covers your home and its contents in case something happens, such as a house fire. But what would happen if something caused that fire, such as a contractor who was hired to repair your plumbing starting a fire in your home accidentally? What if the contractor who is replacing the shingles on your roof accidentally dropped a bundle on your neighbor’s car, destroying it? Most homeowners would assume that their home insurance would cover these events with these circumstances; however that may not be the case at all.

Does Your Home Insurance Cover a Contractor?

You have a contractor working on your home and there’s a fire, which may have been accidentally started by the contractor or his workers. No problem, you’re covered by home insurance, right? Don’t assume so. It’s possible that your policy does not cover you for damage to your property caused by someone else. You could be responsible for a very large, very unexpected repair bill.

Not All Home Insurance Policies Are the Same

Homeowners policies are not like auto insurance policies, with standard provisions. They can vary in what they cover, as well as in the level of coverage that they provide. Home insurance policies often specifically list what they will–and won’t–cover. However, if the damage is due to a peril not named, such as damage caused by a contractor, you may not be covered. Due to the costly nature of claims, it’s always best to find out exactly what your policy covers before you need the coverage.

Find Out What Your Policy Covers

The best way to protect yourself when hiring a contractor is to read your home insurance policy carefully before the work starts. If you don’t see a provision that relates to damage caused by others working on your house, call your home insurance company. Give as much information as possible about the type of work you are contemplating, the name of the contractor, and any other relevant information.

If you’re told that you are covered, make sure you find out where in your policy it is specifically stated or else have your company send you a written description of the coverage. Also, make sure that the monetary limits of your coverage are high enough to cover any possible claims.

Get Extra Home Insurance if You Need It

If you find out that your policy doesn’t cover work done in your home by a contractor, you should either update your current policy to include it or purchase a specific policy that does. Make sure you get a written description of the new coverage and read it thoroughly to be sure that it adds the coverage you specifically requested, with a high enough monetary limit to cover possible claims. An extra “umbrella” policy, which you can add to your current policy, may also be available to cover you for the specific time period the contractor is working on your home.

Follow Up

If the work you are having done to your house substantially increases its value–adding another room, for example–let your home insurance company know. You may want to increase the limits of your homeowners policy to reflect the added value to your property.

To protect a person from losing valuable investments like his home; companies, organizations, and businesses offer homeowner’s insurance. Homeowner’s insurance actually covers various personal and individual possessions, including the loss of the home itself due to natural occurrences or accidental causes; additionally, homeowners insurance covers the loss of personal and valuable items inside the home. Experts in this field advise that it would be best to purchase homeowner’s insurance from the top homeowner’s insurance companies.

Who are the top homeowner’s insurance companies?

The top homeowner’s insurance companies offer the best kind of protection and insurance for homeowners. However, this does not necessarily mean having to pay a larger amount of money for homeowner’s insurance.

What are characteristics of the top homeowner’s insurance companies?

The top homeowner’s insurance companies are those companies that offer the best services at competent prices. They have agents who are very knowledgeable about the products they are offering. They take the utmost care in informing their clients about the coverage and the requirements for homeowner’s insurance. Most of these companies allow their clients to purchase their insurance policies through the Internet or via telephone.

The top homeowner’s insurance companies make sure that your needs and your ability to pay are taken well into account. However, they also make sure that you, as the homeowner, are properly and conveniently insured, and they make sure that you get the best kind of homeowner’s insurance policy for yourself and/or your family.

Where do you find the top homeowner’s insurance companies?

Try using your favorite search engine to browse through the Internet. You will certainly have to go through a long list of homeowner’s insurance companies. However, make sure that you try to get information about your chosen homeowner’s insurance company before purchasing a policy. Try to see if you can easily contact them for inquiries, information, or other important matters regarding homeowner’s insurance.

Home Owner Insurance Company provides detailed information on Home Owner Insurance Companies, Top Home Owner Insurance Companies, Home Owner Insurance Company Ratings, Home Owner Insurance Coverage and more. Home Owner Insurance Company is affiliated with Home Owners Insurance Policies.

Website – http://www.aaa.com
Located – Heathrow, FL
Phone – 1-800-222-4357
Employees – 850
Revenue (mil.) – $37.6
Description – This isn’t your great-grandfather’s American Automobile Association (AAA). The not-for-profit organization is best known as providing emergency roadside assistance to its members. AAA has extending its reach into other areas, however, such as offering a variety of financial and travel-arrangement services (foreign currency exchange and travelers checks), as well. The organization offers its members credit cards, insurance, and vehicle financing. AAA operates travel agencies and publishes maps and travel guides, to boot. AAA and its affiliated auto clubs maintain about 1,100 facilities to serve more than 50 million members that span the US and Canada. AAA was founded in 1902.

Source: http://www.hoovers.com

Reviews & Ratings

susiee’s Full Review of AAA Home Insurance Group

When my husband and I got married and bought our first house, we compared pricing and services on homeowner’s insurance, and ended up with AAA. Their price was not the lowest, but they were very easy to work with, offered the types of coverages and options we wanted, and the agent spent a lot of time with us, as new homeowners, explaining all the different bits and pieces of homeowner insurance. We were very pleased with our agent.

You must be a AAA member to get their homeowners’ insurance. Even with this extra expense, the rate was comparable to other agencies, plus we get the benefits of AAA membership.

When we bought our second house, we decided to check rates and services again. This time, AAA had the best rate out of several companies, including one that offered us a discount because we had our auto insurance through them. Some could match the rate but only with higher deductibles and lower coverage limits.

(A side note, for many years, we had one car insured through AAA and another through State Farm, because for some reason, the rates were so different, that even a multiple car discount did not lower the rates to what we were paying through the other companies. )

We had several claims on our first home, which made my husband afraid that they would cancel us or raise the rates. While our rates did go up slightly, they were still lower than at the other agencies we checked.

One claim was a weird situation. One day while cleaning the bathroom, my hand went straight through the tile in the tub area, putting a big hole in the wall. We called our agent and he came out the next day to determine what was wrong and whether it was covered. He okayed the claim. We decided to eliminate the tile and put in a nice, easy to clean tub enclosure, including a shower door, which we did not have before. AAA paid for the materials and the work to be done.

We filed another claim when a pipe burst in our basement, flooding everything and damaging tons of boxes of our stuff. In this instance, the agent came out right away again. He explained that we were lucky that the reason for the flooding was the broken pipe. It is about the only time that water damage to the basement is covered. It is not covered if your sump pump breaks down, if your basement itself leaks, if the windows leak, etc. Only a broken pipe is a valid claim. (Unfortunately for us, in our second house, we have had water in the basement for all the other reasons, but never from a broken pipe.)

This claim was a bit more difficult to handle. First, we had to make a list of all the items that were damaged and their approximate replacement value. This took quite a while, and I am sure we missed many items. For a few things, we had to “estimate” what we had. For example, we are big readers, but in that small house we had no room for most of our books. We had 25 boxes full of books that got completely ruined. It was next to impossible to sort through the boxes to get an exact count of how many books we lost, and forget even getting a list of the books themselves. 12 years later we are still going I had that book, oh, it must have been in the flood.

When we submitted our list, we got our first surprise. At our agent’s recommendation, we had “replacement value” coverage for our losses. This means, that if something is damaged, stolen, etc., you are given the money for replacing the item, instead of its current market value. This made sense, since if something is several years old, it may cost you quite a bit to replace it, while its depreciated value is fairly small.

The way AAA handled this was to give us a check for 50% of the amount we listed for all the items at the replacement value. When I called to complain, I was told that this is how it works: You get a check for part of the money, then as you replace each item, you submit the receipt and get reimbursed for the rest of the item.

I was not thrilled about this. Some items that were damaged could not be replaced. For example, my husband had some very expensive nutcrackers that were purchased by his parents 30 years ago in Germany. These were expensive then, and were collector’s items that could not be replaced. We only got half the value, and our estimate as to their value was low, since we didn’t have them appraised recently.

Other items we did not bother to replace. We had a large collection of board games that we really did not play much. Since we did not replace them, we did not get the “replacement” value for the items.

It was also a bit inconvenient, having to save all the receipts for things I purchased and sending them to AAA. However, they were very prompt about sending out the checks when they received my receipts. There was a time limit to how long we had to replace the items and submit receipts. I do not remember the exact amount, but I think it was around a year.

So far, we have not had any claims in our second home (knock on wood). We tried to file a claim when our basement flooded due to a crack in the walls and leaky windows, but the agent showed us that it was not covered. I called several other insurance agents at that point to find out if they would have covered this type of thing (figuring on using it as ammunition if they would, or possibly changing insurances anyway), but the three I tried said that it would not be covered.

We have several riders on our policy for some items that we felt required extra coverage: my jewelry and our computer equipment (we have 7 computers in the house right now). It was very simple to add these riders to our policy and very inexpensive. We get a form each year detailing what we have on the riders, asking us to check over the items and to submit updated appraisals and lists, if needed.

When we refinanced our house, we did not include our homeowners insurance in the financing. I had to contact AAA to arrange for billing us for the insurance directly instead of having the mortgage company arrange it. It was very easy to accomplish and was taken care of without any problems.

We have used different agencies for the two homes, and have been pleased with the agents at both locations. The customer service has been very good. All our calls and questions have been handled promptly, correctly, and without much effort required on my part.

Their pricing is competitive to other companies in my area. If you have multiple insurance types with them, you get a discount (for example, if you also have their auto insurance, life insurance).

The website for AAA is www.autoclubgroup.com. You can file a claim online 24 hours a day, 7 days a week. (I have not used this feature myself, but it is there if I need it.) You can pay your bills online, get quotes, change address, and perform many other functions.

As a AAA member, you get a lot of extra benefits unrelated to your homeowners insurance. One of my favorites is Trip Tiks, which are little booklets of maps that plan your trip from start to finish, showing any traffic problems, construction, etc.

If you are looking for homeowners insurance, I would recommend checking out AAA as one of your options. They have done a good job on our claims, and the agents were very good at explaining the policy to new homeowners. We have now had this insurance for 14 years on 2 different homes, and have been very satisfied with our experiences with this company.

bakw’s Full Review of AAA Home Insurance Group

I had an experience of luring by their AUTO agent to take their home insurance. So we spent time with their paper work, meeting and home-inspection process. Then they asked us to renew our membership to take effect. After we done that, an ‘assistant’-manager told us that they had few problems with our house. Things like roof, bathroom-fan, cracks and stairs. He said if we fix the rest beside the roof, he will approve it. So we sacrificed our year-end vacation to fix all that. Then this manager showed up and said ‘hire a contractor to inspect the roof before we can qualify you.’
This is a joke, right? Not really, even the regional manager wouldn’t want to do anything about this person behavior, would not send their own inspector and won’t insure our home. A frustrated southern Californian

Source: http://www.epinons.com

Website – https://www.safeco.com
Located – Seattle, Washington
Phone – 1-800-242-6422
Employees – 7,200
Revenue (bil.) – $6.29
Description – While the name doesn’t tell you much about the business, Safeco does sound secure, and with insurance that counts for a lot. Through its Safeco Insurance Co., the company offers personal property/casualty insurance including auto, homeowners, and fire coverage. Its commercial business includes workers’ compensation, multiperil, and general liability geared towards small to midsized companies. In addition to its property/casualty business, Safeco also offers surety bonds to its long-term construction and corporate customers. Liberty Mutual acquired Safeco in a 2008 deal valued at $6.2 billion.

Source: http://www.hoovers.com

Reviews & Ratings

MGreen8′s Full Review of Safeco Home Insurance Corporation

As a prior employee of SAFECO Insurance Company, I can say that it is one of the best homeowner’s programs out there. I know this because I was the person who determined the value of your home in the regrettable case of a fire or other devastating event. I left SAFECO only because I moved across the country to a location where there was no Headquarters. Because I have no further vested interest in this company, I can give you an educated and honest opinion of their Homeowner products.

What most homeowners do not understand is this: if your home burns to the ground and needs to be replaced you need money to do so. The amount of coverage you place on your home determines what you get. When you’re figuring the price of your home, don’t assume it is the price you paid for it. You have to take every single detail into account; door-knobs, pipes, stairs, wiring, roofing, vents, etc. If you chose to buy a home with ornamental decoration — don’t you want your new home to have the same characteristics? SAFECO will make sure that you are covered to do exactly that.

SAFECO uses a system which takes the following into account: the age of your home, materials used to construct your home (ex: special moldings, plaster walls, etc.), size of your home, number of bathrooms, etc. This system accurately analyzes what it would cost TODAY in YOUR CITY to rebuild your home. This is the total coverage they will suggest to your Insurance Agent. Why? Because SAFECO will insure that if something happens to your home that you get the closest possible replica in the re-building process. Additionally, in the binding process, they may request an agent to do an appraisal of your home and send photos to the company. They will use these to determine even more accurate pricing.

Who wants to deal with a company that will give you less coverage for less money if in the end you aren’t really insuring the total value of what you have? Additionally, SAFECO has Claims Representatives that will travel to your home in less time than the industry standard to settle your claim. Their Claims representatives are professional and respectful. They take the time to explain everything to you.

Additionally, SAFECO offers discounts for alarm systems and if you have your auto insurance with them you’ll get a discount for placing both lines with the company.

SAFECO has one of the best training programs for Underwriters in the industry. (The UW is the person who determines whether or not you are a good risk and what limits your home should have). Because of the intense training program your insurance needs will be met and your expectations will be exceeded. You may pay a small amount more in premiums, but you’ll also be dealing with a company that will make sure you are aptly covered in the event of a tragedy.

logan1973′s Full Review of Safeco Home Insurance Corporation

In 1995, I took an entry level position with a personal lines insurance company in Gainesville, Florida. I had just graduated from college and figured I would work there for a few months until I found something in the telecommunications field.

I never left.

After gaining a bit of tenure, I progressed to positions of increasing responsibility. Two years ago, I relocated to Portland, OR with the same insurance organization.

While I would not hesitate to recommend the insurance carrier I work for to others, I have always chosen to secure my own insurance elsewhere. I do this to avoid any possible conflict of interest or perceived conflict of interest. (I liken it to auditing your own taxes or grading your own med school final examination).

After settling in to the Pacific Northwest, I bought a home. At the urging of a friend, I decided to insure with Safeco. Prior to moving to the out here, I had heard very little about Safeco.

I contacted a Safeco agent and learned a bit about his agency and the company. He was very prompt, courteous and professional. At the same time I took out homeowners coverage, I switched my automobile coverage over to Safeco as well to take advantage of the home-car discount.

That’s usually the end of the story. Most people don’t think too much about insurance until a loss.

Earlier this year, I had a loss.

I have always been on the other side of the equation – that is, I have always been part of the insurance organization not the customer with a claim. Although I would rather not have had the claim, it gave me a new appreciation for the feelings and concerns customers have when faced with an accident.

What happened? Well to make a long story short, the parking brake on my 5 spd vehicle was not fully engaged and the vehicle wasn’t in gear. It rolled down the hill and into my garage. The garage door and it’s support mechanisms were severely damaged.

Upon calling Safeco, I was asked a few questions and told someone would contact me shortly.

The claims rep called the next day and took a statement. He was patient, flexible and provided truly excellent service. Safeco did not demand I use a particular vendor to repair the garage. At the time, I was so preoccupied with other items at work, the claims rep actually followed up with me to see what progress I had made to secure estimates. Once I received an estimate, a check was promptly issued.

Never once was the claims rep I dealt with cynical or reticent to provide coverage. For a bad situation, I could not have asked for better service.

Recently, I learned Safeco is going through a major reorganization. I will continue to insure with them and hope the service I received will survive any restructuring efforts. Even if a premium increase is warranted, I would still continue to insure with Safeco.

asargent’s Full Review of Safeco Home Insurance Corporation
Safeco came through for me when some of my personal property was stolen out of the back of my truck. I went through all the standard procedures — such as reporting the theft to the police department, showing them how the break-in occured, and mailing my original receipt to Safeco — and having done that, I got a check back in reasonable time. The total theft amount was for about $2000.
I’m moving into a new place, and I’m getting Safeco insurance again.

Granted this is just one person’s opinion, but since this the first comment on Safeco Home Insurance I hope it’s useful to someone considering renter’s insurance.

Source: http://www.epinions.com

Website – http://www.libertymutual.com
Located – Boston, MA
Phone – 1-800-837-5254
Employees – 41,000
Annual Revenue – $25,961,000
Description- Boston boasts of baked beans, the Red Sox, and the Liberty Mutual Group. Liberty Mutual Holding is the parent company for the Liberty Mutual Group and its three principal mutual insurance companies, Liberty Mutual Insurance, Liberty Mutual Fire Insurance, and Employers Insurance Company of Wausau. Liberty Mutual is one of the top property/casualty insurers in the US and among the top 10 providers of automobile insurance. The company also offers homeowners’ insurance and commercial lines for small to large companies. Liberty Mutual Group is a diversified global insurer with operations throughout the world.

Source: http://www.hoovers.com

Reviews & Ratings

TheSmartTraveler’s Full Review of Liberty Mutual Home Insurance Group

I have recently switched from Allstate Homeowners Insurance to Liberty Mutual. To say that I am pleased would be an understatement. The agents I have encountered at Liberty Mutual are highly professional, courteous, and thorough. Liberty Mutual has written a Homeowners Policy on my home with a deductible of $1000 versus the deductible of $6,500 from Allstate, giving me much more coverage on structure and contents, and the best thing is that I am paying over $700.00 less in annual premiums than I was paying to Allstate.

I have recommended Liberty Mutual to many friends. Some of their names are Albert, Tony, and Ray. Albert and Tony also had Allstate and have saved more money than I have. Ray has just closed in the last couple of weeks on a dynamite house in Miami Springs. Also, Ray’s wife has been working for State Farm Insurance for the last couple of years. The premium Ray is paying from Liberty Mutual is mega bucks less than he could have gotten anywhere else, including his wife’s company.

When your Allstate policy is up for renewal and you want to save a bundle, compare the rates and coverage that Liberty Mutual Insurance can offer. I have only had wonderful experiences with the folks at Liberty Mutual.

I have highly recommended my friends check out the rates of Liberty Mutual when their existing homeowners’ policy is up for renewal, and I highly recommend the same for you.

thriftymommy’s Full Review of Liberty Mutual Home Insurance Group

I became a Liberty mutual auto insurance policy holder in 1997 after transferring to New Jersey where Geico is not available. After we purchased our first home and used our mortgage company’s recommended insurance company, I decided to investigate our homeowner’s policy on my own.

Customer Service
I made the initial phone call about five months after our home purchase. The houses in our area began selling for much higher than we had purchased our home for in 2002. I called our insurance company and learned that if we wanted to increase our insurance policy it would cost us $600 more annually and our deductible would increase from $500 to $2000. Now, I don’t know about you, but I don’t have an extra $2000 laying around to meet a deductible if something should happen to our home.

I already had our auto policies with Liberty Mutual so I gave them a call for a quote. One of the first things I learned was that they do not insure homes with inground oil tanks. Luckily, our home has an above ground oil tank and they could insure us!

I also learned that our current homeowner’s policy (underwritten by Zurich Direct) was insufficient in the current home market. We paid $129,900 for our five bedroom two bathroom two car detached garage home and saw the prices in the area skyrocket to $229,000 for a three bedroom. Our original homeowner’s policy only covered $145,000 replacement value for the home and $38,000 for the garage was insufficient to meet the current market prices. Since we had paid $452 at closing for the Zurich policy, I was a bit leery to change mid-year.

After calling Zurich to find if we received a refund for the remainder of the year’s coverage and finding out that, by law, we were able to receive a refund of the prorated amount, I decided to review Liberty Mutual’s offer at $645 annually with $245,000 coverage on the house, $68,000 for the garage and a $500 deductible.

The Application
The application was completed over the telephone and the confirmation letter was overnighted to our house. We signed and returned the confirmation the next day and our policy was sent to us two days later for review.

The Policy
I’m not going to line-item my policy. Most people only read what the replacement value of their home is anyway!

The policy language was straightforward and tedious. However tedious, I read the small print in every document. That said, among the numerous typos (none which affected the legality of the policy), there was a clause concerning flood insurance. New Jersey law does not require homeowners to insure against flood loss. Liberty Mutual however, requires that each of its policy holders maintain minimal flood insurance.

I called the state office on insurance and found out that, in fact, we are not required to carry flood insurance unless we live in a designated flood zone. I contacted Liberty Mutual and they removed that clause in the new policy they sent me.

Please read your homeowner’s policy: does it state replacement, restoration and repair? If not, call your insurer; some insurers will only do the minimum required by law to make your home habitable…in other words, they won’t restore it to its previous condition but instead repair the house to the state construction code’s passing grade.

Multi-policy Discounts
Since we had our auto policies with Liberty Mutual, we received a multi-policy discount of 5% per policy (two vehicles and home). This amounted to an annual savings of $350. Definitely a happy customer here!

The Claims Process
You never consider such things as bad drivers when you buy your first home. Specifically, one who runs off the road and into your front porch after a heavy night of drinking. Well, it happened to us last month. We had damage to our fence, sidewalk, mailbox (found in our neighbor’s tree), front porch and roof.

I called Liberty Mutual’s claim hotline at 2:30 in the morning. At 6:30 AM, a Liberty Mutual claims adjuster was knocking on our back door. He was polite, sympathetic, and most of all, had brought a contractor who works for Liberty Mutual with him to assist us in the claim process. The four of us surveyed the damage (our front porch had an overhang that extended from our roof and our entire roof would need to be assessed for structural damage) and the claims adjuster gave us an immediate payment of $200 to replace the mailbox (since I only paid $80 or so for the mailbox, I was confused at this point).

The contractor and the claims adjuster settled on the cost of the repairs to the roof and porch and they presented us with the offer to do all the work to restore our home.

I asked the adjuster if the drunk driver’s insurance company was going to pay for the damage to my home; he said that Liberty Mutual will file a claim through the driver’s insurance company but repair our home first and recoup the costs that way. I asked about my deductible: am I going to have to pay the $500 out of pocket and then file with the drunk’s insurance company? No, the Liberty Mutual claims adjuster said. We are not liable for the damages of the driver; this was not “going against us”. I asked for this in writing. The claims adjuster added this to the bottom of the claims form.

Yesterday, our front porch and roof were completed to original condition. Also, the drunk’s insurance company sent us a settlement check for $4000 for home repairs and pain and suffering. Liberty Mutual sent us a letter stated that the drunk’s insurance company settled with them for $6000. The contractor gave us a receipt for the work he did: $3018. Now, I don’t like math very much, but it seems to me that Liberty Mutual made out like a bandit. We made out like a bandit since we had no out of pocket expenses or were we required to pay out our deductible. Instead, we were given a settlement check and Liberty Mutual made almost $3000 of the drunk’s insurance company.
The Website
I pay my homeowner’s policy with my mortgage; I only use the website for my vehicle policies. The website is easy to navigate but does not give quotes online. You can use the website to request information.

Conclusion
Overall, the policy is standard and the customer service is outstanding! Four hours after my call, a claims adjuster was on our doorstep. One month after the incident, our home was restored to its pre-drunk driver condition and we have a check for the holidays. (Not to mention the money Liberty Mutual made by the other insurance company!!)

dearladyb’s Full Review of Liberty Mutual Home Insurance Group

My Personal Thoughts on Liberty Mutual

Liberty Mutual in Northeastern Ohio has by far to be the least exorbitant homeowner’s insurance available. We have been very fortuitous in our insurance agent Paul, and his associate (which always makes me giggle to say) Paula, both have always been very hospitable and expedient. Despite the time of day or night I may have a question they do not hesitate to answer my questions, if they cannot riposte they will attain someone who can.

Length of time with Liberty Mutual

I have been using Liberty Mutual for seventeen years without disillusion, or alteration. That is not to say I have not considered about it, or validated other prices of diverse insurance companies. It is most consequential that you have the desirable policy for your money. Therefore, yearly I shop around always concluding with Liberty Mutual

What does Liberty Mutual cover?

Depending on the estimation of your home, you will find the coverage obtainable. What I adjudged odd is that some people neglect also to include the home’s contents. This is where many run into conundrums when filing a claim. Although you may have your home insured, it does not automatically include its contents.

I experienced my lesson with my last claim with Liberty Mutual . Failing to have all of my contents covered compounded with the fact I had added new contents since my last policy went into effect, I totally lost on several items amounting to $3500. All of it absorbed, none recoverable, because I did not know what to cover.

Problems I have had with Liberty Mutual.

My problem was not actually with the Liberty Mutual my problem was with the recovering company while filing my claim. I had the impertinent representative in the world, and that is not aggrandizement. It actually came down to name calling, and her implicating me of fraud. In turn I contacted Ohio’s Insurance Commissioner. I advise anyone who has problems in recovering their losses while working with Liberty Mutual to contact their state “Insurance Commissioner, and you will not believe how fast your claim will slide through. It appears this recovering company still working under the Liberty Mutual Group does not have an admirable track record as far as paying or replacing on a claim. The company wants to replace every item lost, usually at a downgrade and not at the tangible cost of the merchandise lost.

For instance, during an electrical storm all of our phones, computers, and appliances plugged in got zapped. Some merchandise and products were new, somewhere four years’ old. The telephones were a year old, but I was miffed about this one thing. I order my phones through Ameritech, the company did not replace these Ameritech phones, instead they sent me a debauched ineffective Uniden! They did not replace the answering machine because they said it was not a “needed” feature of the phone. They replaced my flat screen monitors with the big grey ugly AOC’s, which were no where near the same as my flat screens. Nonetheless I did have a monitor and will eventually save up to replace them all again.

The biggest argument was over the fact I needed the rod replaced so that my home would not have a problem if struck again by lightening. “Grounding rods,” which this company said was implausible to be defunct. I actually had to have the Fire Marshall come to my home check the rods, remove it and write a letter to the insurance company before they would replace it.

Conclusion

Regardless at the nostrums of the recovery center the actual company Liberty Mutual has always given me respect, friendliness and fair prices. Yearly they send someone out to my home and assess it, almost like having your own personal appraiser without the cost. After they estimate, your insurance is adjusted to reflect either a decrease or increase in coverage. This year I am proud to say my coverage increased due to a few adjustments I had made to my home. I will give them their kudos for doing a great job for me.

Source: http://www.epinions.com

Website – https://www.farmers.com
Located – Los Angeles, CA
Phone – 1-800-FARMERS (1-800-327-6377)
2007 Employees – 25,935
2007 Net Income (mil.) – $147.5
Description – Don’t expect to see tractors in the parking lot of Farmers Group. The US subsidiary of Zurich Financial Services provides insurance management services to the members of the Farmers Insurance Exchange, Truck Insurance Exchange, and Fire Insurance Exchange — which together form one of the leading US property/casualty insurers. Farmers Group does not own the exchanges, but acts as the companies’ attorneys-in-fact. It chooses risks, distributes policy statements to customers, collects premiums, and provides other non-claims related services. The Farmers Group also is the holding company of Farmers New World Life Insurance, and specialty insurer Foremost Insurance.

Source: http://www.hoovers.com

Reviews & Ratings

Ginsan’s Full Review of Farmers Home Insurance Group

You never know how good an insurance company is until you need them and that is too late. I would highly recommend Farmers and I’ll tell you why. We had Farmers on our 100 yr old house for several years. One night our house caught on fire from Christmas lights on the outside. It was the most terrifying experience but they were able to save the house. Somewhere in the confusion huddling at my neighbors while the fire fighters worked, someone said to call our insurance agent then. I called our agent and he said he would go to his office and see what coverage we had and be back in touch.

We went to my mother’s for the night and at 7:30 the next morning we received a call from Service Master that they had been hired from by the insurance company and they were on their way. Within the hour we got the first call from a claims adjuster. The people hired by the insurance company immediately moved on getting windows boarded up and heat in the lower part of the house turned on so we didn’t have frozen pipes causing more damage. The adjuster arrived and after evaluating the situation explained that because of the large amount of damage, their catastrophic adjuster would be there the next day and would take over. Oh, and by the way, here is $3000 to get what we need immediately and pay for a hotel.

Through the next 5 months, the insurance company paid for a rental house for us including renting furniture and utilities. They put together a comprehensive description of everything that needed to be done and the costs and allowed us to pick our own contractor. Our contractor felt the prices were right in line. As additional things were needed, the insurance company was cooperative.

Five months later our house was ready to move back into. Service Master brought back all of our belongings that were salvaged with everything clean and odor free. Farmers had paid all bills.

To say we were pleased would be an understatement. To come through a catastrophe like that and actually like your insurance company is amazing. They say in their ads that they will get you back on your feet fast and it is true. They did not just give lip service but they really did what they said they would. I would highly recommend them and several of our friends and neighbors have switched to them after seeing how well we were handled.

jwimberley’s Full Review of Farmers Home Insurance Group

We have been with Farmers now for about 12 years. We have had to use just about every aspect of our policy coverages and have had great service from both the agency force and the claims department.

Farmers is one of the few companies left in Texas that is still writing insurance for homeowners. They are limited in who they can write for right now but that is improving. As of today each agent can write up to five new home policies each month. Those clients must already have an auto policy with Farmers. If they do not have an auto policy with Farmers they are eligible to be written in Farmers sister company Foremost Insurance. In order to get a Farmers policy you must also be claims free for the last three years. There are some companies that will only take you as a new client if you have perfect credit, Farmers offers discounts (up to 40%) if you have an excellent insurance score (like a credit score but weighted differently) but they will not decline someone based on credit.

As for the coverages, there are several and I will try to explain how each one works.

DWELLING: This is your home. It does not include the land but it has nothing to do with market value. Don’t get stuck on the “I didn’t pay anywhere near that much” argument. The fact is that this is the money that will be used to rebuild your house. That includes demolition of the remaining structure, hauling off the debris, re-engineering the plans to fit on your existing slab and the cost of custom building your house. Remember, the first time your house was built there was probably a builder working on all of the homes in your neighborhood with multiple crews and buying supplies in bulk to keep costs down. That is not the case when an insurance company has to come in and rebuild your house.

OTHER STRUCTURES: This includes your fence, decks and any permanent structures like well houses or storage buildings that are not attached to the dwelling. It does not included temporary buildings like Morgan sheds.

LOSS OF USE: This coverage will take care of providing you with a place to stay while your house is being rebuilt. Remember, just because you had a fire doesn’t mean you get to stop making your mortgage payments. This coverage is used to rent you a place to stay until you can move back into your home.

PERSONAL PROPERTY: Just like it sounds. This is your television, computer, clothing, etc… There are limits to some items like Jewelry, fine art and important papers so if you have a lot of high dollar items be sure to talk to your agent about getting special increased limits to cover them.

PERSONAL PROPERTY OFF PREMISES: If you are on vacation and your bags are stolen, you have coverage under this part of your policy. Some people don’t realize that if their car is broken into and their CD’s are stolen the auto policy will not cover the CD’s. This part of your homeowners or renters policy will however.

PERSONAL LIABILITY: Maybe the most important part of your homeowners policy. This is what will protect you when someone sues you. Everyone always thinks that this will take care of you if someone is hurt on your property and sues you. That is true but it goes so much further. If you are playing softball and slide into third breaking the baseman’s ankle he might well sue you for his injury. Your personal liability protection will cover the cost of your defense and pay any damages up to the limit of the policy.

MEDICAL PAYMENTS TO OTHERS: This coverage is for injuries to people that don’t live at the house while they are visiting the house. For example if you are having a barbeque and someone grabs a hot skillet burning themselves you can call an ambulance, get them to the hospital and get them taken care of knowing that your homeowners insurance will be there for you when you need to be reimbursed.

Farmers also provides some great endorsements to their policy.

REPLACEMENT COST: This is an absolute must have on both the dwelling and the personal property. Without it you have an Actual Cash Value policy. With Replacement Cost the insurance company will pay whatever it cost to replace the item that was damaged or stolen. Under an ACV policy the company will take depreciation on the item based on its age or condition. For example if you have ACV on your dwelling and there is a hail storm that destroys your roof the adjuster will come out and tell you that your $3,000 roof is only worth $750 because it is 15 years old. With Replacement Cost your get the full $3,000 (less deductible) regardless of the age of the roof.

TX AMENDATORY ENDORSEMENT: In Texas there are precious few companies that will cover a house for water damage because of the way the courts have been deciding mold claims. Farmers still offers coverage for water damage in increments of $5,000 – $10,000 – or $25,000 depending on how much coverage you think you need.

IDENTITY THEFT: This is a very low-cost but important coverage in today’s high tech world. If your identity is stolen this coverage will pay your legal fees up to $15,000 to repair any damage done to your credit.

INCREASED JEWELRY / COMPUTER / MONEY & SECURITIES: Because there are limits to these items in the standard policy Farmers offers a way for people to increase the amount of coverage in these and a few more areas. All you have to do is ask.

RESIDENTIAL GLASS: This coverage will keep you from having to meet the full deductible on your homeowners just to replace a pane of glass. Whether it is your storm door or the bay window in the kitchen you can have it fixed under this portion of the policy without paying your deductible.

There are many other coverages and endorsements that will cover things like Rental Property, Boats, Home Businesses and company equipment kept at home. That is one of the great things about Farmers; they have a huge agency force that is willing to sit down with you and talk about the coverages in order to find the right package for you.

In our experience with the claims department they bent over backwards to make sure that we felt like we were being taken care of at all times. Sometimes it doesn’t feel like things are moving as quickly as you would like but I would rather wait an extra couple of days and know that the adjuster was doing everything he could to help us that to have someone cut us a check on the spot without really knowing what it was that we needed.

Georgianni’s Full Review of Farmers Home Insurance Group

We recently lost our home to a fire. The fire broke out at around 5:00 p.m. Since I was at home with the children and saw the smoke coming through the attic vents, I was able to get the kids and the pets out with a bit of help. When the fire department had the home under control, a very wonderful woman came to talk to me. She was there to make sure that our large family had a place to go as well as to offer advice on what we needed to do immediately. The top priority was to call our insurance company.
When we finally called Farmers, it was late at night. We had to get our kids and pets settled with family. However, despite the late hour, our claim was taken quickly and efficiently. We had an appointment with an adjuster the following day.
The only problem that we encountered was that my husband is heavy into carpentry. Not your average, modern carpentry, but antique tools. He had lots of them. This posed a problem because the local adjuster was not authorized to handle a claim the size of ours. He did however give us a check for $5,000.00 to cover our immediate expenses. He also gave us literature on how we needed to document our expenses until the regional inspector was able to get there. Despite the title, he was there in 3 days. He offered to help us set up a temporary home, rental furniture and anything else we needed until our home was rebuilt. Since we have 6 kids and 3 dogs, that was a challenge.
Our Farmers adjuster took care of us from start to finish. There was no fighting over what we had or didn’t have. We just had to turn in an inventory complete with pricing. That was a chore! An important lesson to be learned at this point..DO NOT HIRE A RESTORATION COMPANY! They charged us $47,000 to pack up what was left and do the inventory for us. We still had to price everything out on our own. I can sincerely say… I could have replaced EVERYTHING in my home for that amount. (Not including the tools.) This is another subject, so I will get back on target.
We have figured that we will pay Farmers our yearly insurance for the next 114 years before they will have earned back the money that they have put out for us. No problems, no questions, and once we were in their hands, no issues. Their rates may be higher that other companies, but the bottom line is you get what you pay for.

Source: http://www.epinions.com

Website - https://www.Amica.com
Located – Lincoln, RI
Phone – 1-800-242-6422
Employees – 3,200
Revenue (mil.) – $1,485
Description – Amica will amicably serve your insurance needs. The company provides a variety of personal insurance products, including auto, home, and life policies. Amica sells its policies directly to customers through some 40 offices throughout the US. The oldest mutual automobile insurance company in the US, it traces its roots back to 1907 (when fire coverage was a car owner’s most important need due to the danger of exploding gas tanks). Amica, the company’s current incarnation, was formed in 1973 when Automobile Mutual Insurance Company of America combined with Factory Mutual Liability Insurance Company of America.

Source: http://www.hoovers.com

Reviews & Ratings

thom413′s Full Review of Amica Mutual Home Insurance Company

My parents had Amica Insurance for many years as a result of their top rating in Consumer Reports. During that time, we had one or two minor claims – a car accident destroyed a hedge on our property, and Dad skidded into the garage door one icy evening. Both of those claims were paid promptly, with no fuss. Also, the company pays a dividend at the end of the policy year which can reduce your premium, and offers discounts for alarms and other protective devices. The service was always professional and good.

The ultimate test of an insurance company’s integrity and customer service is a total loss, and that’s just what we experienced. I’m happy to report that they met or exceeded all our expectations, with a few minor bumps along the way. In February 1996, I awoke to discover that our den was in flames. Our house was a split level, and the den was directly beneath the bedrooms where we were sleeping. I woke everyone up and we escaped uninjured, but the house was destroyed. Like most house fires, the structural damage was confined to one room, but the smoke and water damage affected every room, and the house had to be gutted and rebuilt. Here’s how the claim went:

1) A courteous, wonderful adjuster was dispatched to the scene the next day, with a check for about $5000.00 to cover any immediate expenses. He outlined the separate areas of coverage – additional living expenses “ALE”, which covers your rental home costs, structure expense, and contents expense. We had (thank God)chosen replacement cost coverage for both of these, which costs a bit more, but allows you to replace things without having to factor in depreciation.

2) We moved from my sister’s home to a hotel, then on on to a rental house. Administrative glitches meant that we sometimes had to advance the rent from our own funds, but for the most part, this aspect went ok.

3) The adjuster assigned to the contents portion of the claim was rude, nasty and unprofessional. He implied several times that we viewed this a money making opportunity. Also, he attempted several times to avoid using brand names in his reports, which would have reduced the payout if we allowed it to stand. His actions delayed settlement significantly, keeping us out of our home for a long time.

4) We ended up retaining a public adjuster to settle the claim. A public adjuster takes a percentage of the total payout and negotiates on your behalf with the insurance company. We also sent a letter to the CEO in Rhode Island detailing our concerns. These two actions moved things along right away, and once the construction began and our furniture was restored, we moved back in rather quickly.

I don’t wish a house fire on anyone. But if you are going to have one, make sure you have a company that will pay your valid claim. Expect resistance from even the most reputable company, but in the face of valid claims under the contract, Amica did what was right.

darwink’s Full Review of Amica Mutual Home Insurance Company

We’ve had several home insurers in the past 20 years, due to moving, broker changes, and even one alleged-decent insurer going bust (!).
We found Amica by accident a few years back, since it doesn’t do heavy advertising. Many consumer-type sites gave it top ratings for auto and home coverage, and it got a string of JD Power awards. So we figured “what the heck,” went to its site, and got some quotes.
The quotes were _far_ lower, for better coverage, than those of other (and better-known, but far lower-rated) insurers. Amica’s reps were super-pleasant and savvy, and they weren’t just sales-robots — they _clearly_ knew the business. The policy info was understandable, coverage was easily tailored, and reps have been customer-friendly and responsive. We’ve been beyond pleased (and Amica still gets top auto-home ratings on those consumer sites).
As for some complaints here re: qualifying for coverage:
- Amica’s a sound company, or we wouldn’t have signed on … esp after one of our previous insurers went “pffft” on short notice.
- Most insurers _do_ exclude specific dog breeds from coverage. However unfair it seems, it’s based on risk stats: All dogs can bite, but some breeds are more likely to do very serious damage via that bite. (In fact, some _countries_ ban or seriously restrict these breeds.)
I love dogs, but insurers can’t (a) cut slack for breeds based on a particular dog’s track record or age, or (b) just charge higher premiums (as for drivers or businesses in high-risk groups). Even a first-ever bite from a geriatric high-risk dog can do serious damage; and we can’t control our dogs’ every move 24/7. And dogs don’t weigh consequences — it’s not like “If I bite the mailman, I’ll lose my driver’s license and my job, and-or my premiums will go sky-high.”

dabergheim’s Full Review of Amica Mutual Home Insurance Company

Our San Diego home (Rancho Bernardo) burned down in the Witch Creek fire, and Amica was there for us. We were lucky in that we were renters, not homeowners, and so we are not having to go through the nightmare of having to rebuild, but still, Amica has done right by us on our renters policy and we will be customers for life. Here’s why…

We first confirmed that our house burned down at 8:00 a.m. the morning after the fires struck. Our first call was to Amica, and without any independent verification that the house had burned down – just our word – they got us a debit card with $5,000 on it to help us with immediate expenses (the card was in our hands within three hours). The next day they called us and told us that they had put another $10,000 on the card to help us out until the claim could be settled.

Amica assigned an independent adjuster to work with us on our claim. In our first conversation, the adjuster told us “you don’t know how lucky you are to have Amica.” He said that he works with 30 insurance companies, and that there are only two — Amica and Chubb — that treat their customers right in situations like ours. Amica was in frequent touch with the adjuster throughout the process, and the adjuster said they were encouraging him to move quickly so that they could get us our money and settle the claim.

As I write this, five weeks after the fire, I can report that Amica settled our claim for the full amount of our coverage, and we received the final check in the mail the day after the called to notify us that everything was complete.

I have had coverage with Amica (home and auto) for more than 20 years. In that time I have had two burglaries, a dented car door (someone backed into the car and then drove away), some cracked windshields, and now this whopper of a claim. Each time, Amica’s claims service surpassed my expectations. My extended family also has Amica (I learned about them from my father, who has been a policy holder for 50 years), and everyone has similar stories to tell of outstanding claims service.

I am a customer for life.

Source: http://www.epinions.com