Considering switching from Allstate to Amica in Georgia? I have some questions about other options as well.
I haven’t filed a claim with Allstate in 12 years, but I’ve heard that their home claims process can be problematic. On the other hand, I’ve received positive feedback about Amica.
I currently have homeowners insurance, two auto policies, and an umbrella policy. While switching could cut my auto insurance costs by half, my homeowners premium would double, effectively balancing out before factoring in Amica’s potential dividend payment.
Here are a few questions I have:
– How do you determine the replacement cost for your home?
– Do you adjust that figure if your policy includes an overage waiver? My Allstate policy has a 20% waiver, while Amica’s quote offers a 30%.
– Is there any real benefit to insuring additional structures if I don’t own any (like a fence or outbuildings)?
Also, are there any other insurance companies I should consider? Given Amica’s competitive auto rates, it might be advantageous to separate my homeowners policy instead of bundling it.
It sounds like you’re doing a thorough job of considering your options for home and auto insurance! Here are some insights that might help you with your questions:
Consider factors such as the square footage, the materials used in construction, and any unique features (like a finished basement or custom finishes).
Changes with Overage Waiver: If your policy comes with a replacement cost overage waiver (like 20% or 30%), you generally wouldn’t need to adjust the estimated replacement cost. However, having a higher waiver means that if rebuilding costs exceed your policy limits, you’ll have a bit more cushion. It may be wise to evaluate whether the additional premiums for a higher waiver justify the potential increase in coverage.
Additional Structures: If you don’t have any additional structures on your property, you might not need coverage for them. However, if you envision adding structures in the future (like a shed, deck, or pool), considering coverage for additional structures could be worthwhile. It can also be beneficial if you have significant landscaping or outdoor features that may not be considered as additional structures.
Other Companies to Consider: Since you’re looking at Amica, which is known for good customer service and dividends, here are a few other companies you might want to explore:
Since Amica’s auto rates are strong for you, it could be even more beneficial to explore homeowners insurance separately if bundling doesn’t provide significant savings. Remember to thoroughly read each company’s reviews and ratings to get a sense of their claims process and customer service reputation. Good luck with your insurance decisions!