Considering switching from Allstate to Amica in Georgia? I have a few questions for those who have made a similar transition or have insights into other insurance companies.
I’ve been with Allstate for 12 years without any claims, but I’ve heard horror stories about their home claims process. On the other hand, I’ve heard positive feedback about Amica.
Currently, I have homeowners insurance, two auto policies, and an umbrella policy. Switching to Amica could cut my auto insurance in half, but it would double my homeowners premium, resulting in no change before factoring in the Amica dividend payment.
Here are my questions:
1. What tools do you use to estimate your home’s replacement cost?
2. If your policy includes an overage waiver, do you adjust your replacement cost calculation? My current Allstate has a 20% waiver, while Amica is offering 30%.
3. Should I consider coverage for additional structures if I don’t have a fence or other buildings on my property?
Are there any other companies you recommend looking into for insurance? With Amica’s competitive auto rates, it might make sense to separate my homeowners policy instead of bundling.
Switching from Allstate to Amica could be a smart move, especially considering your long claims history without any issues. Here are some thoughts and answers to your questions:
Replacement Cost Calculation: To calculate the replacement cost of your home, you can use tools like the Home Advisor’s Cost Estimator or consult with a local contractor/real estate agent to get a more accurate estimate based on the current costs of materials and labor in your area. Your insurance company may also provide a calculator as part of their service.
Overage Waiver Consideration: If your Amica policy has a 30% overage waiver compared to Allstate’s 20%, this means you have a little more cushion in case of a total loss. Therefore, you might not need to adjust your replacement cost downward, as that overage can provide valuable additional coverage if construction costs rise.
Additional Structures: If you don’t have any additional structures on your property, you likely don’t need additional coverage for them. However, if you ever plan to build something (like a shed or guest house), it’s worth considering including some coverage or rider to account for those future plans.
Other Companies to Consider: Many customers find favorable rates and good service with companies like Progressive, State Farm, or Lemonade. It’s a good idea to get quotes from several companies, especially since rates can vary significantly based on various factors, including location and individual risk profiles.
Bundling vs. Unbundling: Since Amica may provide better auto rates, you might want to consider keeping your auto insurance with them while exploring separate homeowners policies. As you mentioned, sometimes bundling can lead to discounts, but that’s not the case for everyone. Check with different companies to see which gives you the best overall premium for the desired coverage.
Overall, it sounds like you’re on the right track by investigating your options! Just make sure to thoroughly understand the terms and conditions of any new policies you consider.