Homeowners Insurance

[racsan]

I need to shop around myself, just got a notification today my home insurance is going up again. my auto has gone up twice in the past two years with no claims / tickets at all. (which going up for tickets is b.s., it doesn’t cost them any money if I was on a fast drive through the country, have a loud exhaust or ain’t wearing a seat belt) But anyways I think its time to see if I can do better. Ive only been with american family since we got this mortgage (2-1/2 years) Im suprized the taxes haven’t gone up since the valuation is allegedly gone up 40K since we moved here. Which is nonsense. I dont feel it was worth the 180k we paid, let alone what its claimed to be worth. A double-wide with detached garage, 2.08 acres, asphalt driveway. 100K seems like a more realistic valuation. If it would lower the value Id never mow the grass & have a few junkers in the yard.
If she’d let me- you know how that would go.

 

[SenorNoob]

I got a policy written just to satisfy the bank. I fully expect the company to vanish if I tried to actually make a claim.

 

[Shran]

Still patiently awaiting my yearly letter so I can switch companies...again

A double-wide with detached garage, 2.08 acres, asphalt driveway. 100K seems like a more realistic valuation.

My grandparents property is 20 acres with a double wide on it and the county has it valued at $393,500 right now. Your property, if it was here, would probably sell for $3-400k I am guessing.

I can't believe what people are paying for mobile homes right now. I bought one in 2006 for $10,000, it was in a park and lot rent was $260/month. I sold it in 2015 for $15k and lot rent was $370/month. Thought I was doing pretty good there, the theory was that you always lose money on trailer houses and I was fine with that, dumping $30k+ into lot rent kinda sucks but you have to live somewhere.

Now I am seeing old trailer house like mine (it was a 1978 14x70 single wide in decent shape) sell for $50k and up. Some of the newer trailers in parks are well over $100k. Brand new double wide in a park is close to $200k. WHY??? Lot rent in any park here is almost $500/month, how is that ever a good investment?

 

[Jim Oaks]

I've seen manufacured homes sell for the same price as site built homes. Even a single wide can go for pretty good money if it's sold with land.

Back 5-years ago when I still lived in my camper there were a lot of RV parks popping up because so many people are living full time in their RV. If I didn't have a need for a garage / workshop I'd probably still live in an RV.

 

[sgtsandman]

I've seen manufacured homes sell for the same price as site built homes. Even a single wide can go for pretty good money if it's sold with land.

Back 5-years ago when I still lived in my camper there were a lot of RV parks popping up because so many people are living full time in their RV. If I didn't have a need for a garage / workshop I'd probably still live in an RV.

I saw that back in 2000 or there about when we were looking at houses and manufactured homes. It was actually cheaper to buy an existing house than go the manufactured home route. And that was before you factored in buying land, putting in a oundation, paying for electric and gas hook ups along with sewer/septic and city water/well.

Completely contrary what people believe how things are supposed to be. One of the justifications given is that the manufactured home has to be built stronger because of road travel to wherever the thing is supposed to go. I can buy that to a point but looking at some of the materials used to build them, it should probably balance out, but it doesn't.

 

[Shran]

Back when I was looking at houses, the only way to get a mortgage on a mobile or manufactured house on land was if it had a foundation under it and they were super picky about what type. If it was a single wide with the normal tie downs or a double wide on stacked cinder blocks... you were out of luck. Cash only deal. I suspect it's still that way but somehow people have hundreds of thousands of dollars in the bank and are snapping them up within days of coming on the market.

Double wides & manufactured houses are really popular on ranches/farms around here, you sometimes have a couple generations living on the same plot of land and nobody wants to live in grandma's ancient farm house so they haul in a new double wide. I think that ends up being cheaper than trucking in all the materials to build a house. Certainly easier. I have also talked to a couple of older ranchers that said they simply wanted a new house and that the old one was worn out... I guess if you have the money and want to stay on your land, why not.

 

[flyin-lowe]

I just started shopping around for pricing last week. I have been with All State since 2000. About once every ten years or so I shop around and they have always been competitive enough to not switch. 3 years ago my daughter turned 16 and got her license. My premiums went from 960.00 every six months to 2400.00 every six months. I have a son who will be getting his license in a few months and I can't take another increase like that. With them, it affects every car we have. Even though she has a vehicle and doesn't live with us any more (college) the rates on all my vehicles is way up. The do not just assign a driver to a vehicle any more like the old days. i am also looking into just getting her her own policy and taking her completely off of mine. I have only made two claims with them on my homeowners in 25 years, once was a well pump destroyed by lightning and once a roof destroyed by a storm. I am not one to make claims all the time every time something goes wrong... Seems like I am paying for everyone who does.

 

[Brain75]

I helped a gal do some property hunting and she saw a lot of trailer houses (in town on 0.25 acre or less) that had the skirt removed and re-faced to look like a stick built home. Google street view to the rescue - look at the exact same home 6 years ago. They wanted full stick built home asking price for it every time.

flyin - progressive does a listed driver still. It was a pain in the ass to switch my new to me ranger from mom to me, because for 2 months her name was still on the title even though I had my own new policy. They wanted to list her as a driver since her name was on title.... Best thing to do, get your name off the title of anything you don't want to insure first then go to the insurance people and say not mine, not my problem, wont be driving.

 

[flyin-lowe]

Yeah, I was already told I need to sign it over to her. One of the things I don’t like about Allstate is there liability is not much cheaper than their full coverage. My daughter has a 2010 accord, maybe a 5-6k car and I paid 6k for my son’s ranger. Full coverage was only like 300 a year more so that’s what I got. I might drop them to liability if I get somewhere that has cheaper liability rates

 

[Brain75]

I carried full coverage on my 18 year old GM for way too many years because the difference was like $15 at the end... but when I added the Ranger and dropped full coverage my total bill went down by $23... so 2 cars is cheaper than 1, go fig. (other vehicle is with Hagerty)