Considering switching from Allstate to Amica in Georgia? I have some questions and am looking for insights on other insurance companies as well.
I’ve been with Allstate for 12 years without any claims, but I’ve heard that their home claims process can be quite difficult. On the other hand, I’ve received positive feedback about Amica.
Currently, I have homeowners insurance, two auto policies, and an umbrella policy. While switching could reduce my auto insurance costs by half, my homeowners premium would double, which would even out before accounting for Amica’s dividend payment.
Here are a few questions I have:
- How do you calculate the replacement cost for your home?
- If your policy includes an overage waiver, do you adjust your replacement cost calculation? My current Allstate policy offers a 20% overage, while Amica has quoted 30%.
- Is there any benefit to insuring additional structures if I don’t have a fence or any outbuildings?
Are there any other insurance companies you recommend? Considering Amica’s competitive auto rates, it might make sense to separate my homeowners insurance from my auto if bundling isn’t necessary.
Switching from Allstate to Amica is definitely worth considering, especially if you’ve heard good things about Amica and have had no claims with Allstate. Here are some thoughts on your questions:
Replacement Cost Calculation: To calculate the replacement cost of your home, you can use online tools provided by insurance companies, or you could hire a professional appraiser. Factors to consider include the size of the home, quality of materials, and local construction costs. Websites like the Insurance Information Institute may also offer guidelines or calculators that can assist you.
Changes with Overage Waiver: The overage waiver essentially increases your coverage limit in case of a total loss. If Amica offers 30% overage compared to Allstate’s 20%, you may want to factor that into your replacement cost calculation. In a scenario where rebuilding might exceed your original cost estimate, the higher waiver could provide more peace of mind.
Additional Structures Coverage: If you don’t have any additional structures like a detached garage or shed, you may not need that coverage. However, if you ever plan to add structures or have items on your property, it might be worth considering, even if it’s minimal. A basic liability or coverage can serve well in case anything is built in the future.
Other Insurance Options: Besides Amica, consider looking into companies like USAA (if eligible), State Farm, or Progressive for auto insurance, as they also tend to have strong customer service ratings. It might be beneficial to see if separating your homeowners from your auto insurance allows for better pricing. Always compare quotes while keeping in mind coverage limits and company ratings, especially concerning claims handling.
Ultimately, exploring multiple quotes can be advantageous, and a well-researched decision can lead to significant savings or better coverage. Good luck with your search!