psfales@ihuxq.UUCP (Peter Fales) (08/06/84)
A while back, I posted a request for advice on where to go for homeowners insurance for my new house. The promised summary of responses (finally!) follows: ================================================================ I just recently was involved in a fire at my apartment complex, and had my first opportunity to evaluate my insurance company, Allstate. I cannot speak highly enough about the claims service that I received. They handled everything that I did not want to get involved in, including the company to clean the furniture, and repair the damaged items, where possible, but handled the storeage of my furniture until my apartment is ready again. I recommend them without reservation. ================================================================ I surveyed several companies and found that Milwaukee Insurance had the best coverage for the money. I go through an independent agent in Lombard: Steve Wilk (620-4800). The rates were comparable to JCPenney, who had the next lowest rates I found, but Milwaukee's additional coverage for jewelry, guns etc. was much less. Also, dealing with JCPenney means toll-free numbers and impersonal service. I assume that you will get full replacement value insurance - anything else does not make sense. (this is not as much of an opinion as it sounds!) I also get my car insurance through Wilk and Milwaukee. I have life insurance through him but with another company. He does not bother you once you call him - he waits for you to call back - he knows you will since the rates are lower. He gives quotes over the phone and can do the paper work by mail which means no trips to Lombard. ================================================================ I have had Nationwide for many years. I have no claim processing experience with them. All the Nationwide agents have been courteous and compentent. The best things Nationwide does for me are to send me one bill for all my policies and to bill me every month. Since I get paid on a monthly basis, monthly bills are much easier to budget than quarterly or annual. [ EDITORS NOTE - Many lenders (including mine) require you to pay 1/12 of your premium each month as part of your house payment, then they the premium at the end of the year ] I rate shopped a few times and couldn't save enough to buy the paperwork to change. The biggest turkey outfits I ever dealt with were Traveler's and AAA. I do not suffer fools gladly, and incompetence seems to reign supreme there. ================================================================ don't forget to check with your credit-union for available home-owner's insurance. could save you some money. ================================================================ My best advice is to find an agent that you are comfortable dealing with and confident that he/she will be around a while. A good agent can do a lot in explaining terms and helping to file claims. We are insured with state farm, which at the time of purchase was one of the least expensive. We have had minor claims on both homeowners and car insurance with no troubles. Examine your policy carefully. As I recall there are at 4 basic different types, ranging from covering a very narrow and specific set of hazards to covering almost everything. Don't be too cheap, since highly unlikely things can cost a lot of money. (Ask around about how people made out with the hail storm earlier this spring. It should be enlightening). If you have any potential flooding problem, realize that nothing covers it. If you are threatened by a stream, buy the federal flood insurance. It's cheap and can really pay off (it doesn't cover finished basements though). In much of this area, people are threatened by sewer backup or sump pump failure, which is not covered by anything. If your pump is necessary to keep water out, get a battery backup for it. Lots of people returned from the 4th of July last year to find everything floating. If you have any hint of sewer problems, contact a contractor about shutoffs or standpipes. ================================================================ And my choice: The fact that I have my current renter's insurance with Allstate and am satisfied with the competence of their agent, combined with the glowing testimonial above led me to go with Allstate. My policy for full replacement price and extended coverage for $65000 cost $151.00 per year. -- Peter Fales UUCP: ...ihnp4!iwlc7!psfales Work: Bell Labs IW-1Z243 W: (312) 979-7784 H: (312) 355-4254 [ Send lawyers, guns, and money; Dad, get me out of this. ]