What would my monthly Homeowners Insurance premium be?
Monday, April 27th, 2009 at
4:47 pm
Brent asked:
For a home in Lapeer, MI 48446. The House is 1600 Square feet, built in the 80′s. I was told on Yahoo!’s calculator I would need around 180,000 worth of coverage, but I dont know how to compute that into a monthly payment.
For a home in Lapeer, MI 48446. The House is 1600 Square feet, built in the 80′s. I was told on Yahoo!’s calculator I would need around 180,000 worth of coverage, but I dont know how to compute that into a monthly payment.
Thanks
Tagged with: Calculator • Insurance Premium • Square Feet
Filed under: Homeowners Insurance
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call an insurance agent in fact several and get quotes
I own a house worth about $175,000 in an urban area. We pay about $50 per month in HOI and $120 per month in taxes. This money goes in to an escrow account, and is included in our mortgage payment.
monthly payment would vary from agent-company to agent-company.Wood frame as compared to brick also makes a difference.Also the amount of personal property coverage needed makes a difference.You need to shop around and take the best bargain.
You will need to call around and get a few quotes; there is no way to determine the amount without having it quoted. Different states require different levels of coverage; the miles from your closest fire dept and the fire dept’s rating can affect your coverage cost. The amount of doors and deadbolts, the safety railings for stairs & steps, there are many many things to affect your costs. And even your credit score has an effect on what you will pay for insurance.
I can tell you though that I have a 2,000 sq ft home in a rural area that is insured for $175K (that’s more than what we paid for it) and personal belongings through Erie Insurance for $545 per year.
It’s not that simple. It’s also based on your credit score and claims history, what the house is made of, and prior claims on the house, not to mention which policy form and coverages you’d pick.
Budget $2000 a year. It should be under this.
Try this site
here you can get quotes from different companies in MI.
There are too many factors. Call up the person who you have your car insurance with and ask for a home quote. Or call agents in your area for a quote. To give you an idea, i live in WI and pay $30/month for my home insurance for $150,000 of coverage on the dwelling with a $500 deductible.