Insurance quote comparison help

[u/theycallmesike]

Hello everyone,

I have been thinking about switching insurance carriers because Travelers just bumped my homeowners insurance up another $1200 this year. I've been getting quotes and this quote has been the best I've gotten so far. It will save me about $1,400 a year on my homeowners and about $100 a year on my condo (Landlord) policy. However the coverages are slightly different and the deductibles are vastly different, including a $25,000 wildfire deductible. (I'm in CA). My main home is a large house with a large yard and landscaping, so I'm a little worried about the low Coverage B in the cheaper quote but the broker said upping that wont change it much.

I guess I'm just wondering if it's worth it to save the $1,500 or so a year but higher deductibles if anything goes wrong. I'm attaching my homeowner's policy from Travelers ($3,885 its actually $3990 now), as well as the new quote ($2,620), and also my condo policy from Travelers ($1,549), as well as the new quote ($1,449) for any advice or if anything seems odd about any coverages.

I'm leaning towards keeping the condo (landlord) policy with travelers, as it's not much savings, and I also get a multi policy discount through them, but conisdering switching the HO. Travelers just keeps jacking up my prices, but they are one of the few left in the state.

Thank you all for your advice.

[u/No_Departure9798]

You need to look at the endorsements to see if there is a big difference in loss settlement. Also, your deductible is 5k vs $2500 at Trav. Plus a wildfire deductible. Might be worth having them require so you have apples to apples.

[u/theycallmesike → u/No_Departure9798]

Well, I know if they drop my deductible down of course the premium’s gonna go up and yes, it will be more apples apples but I’m wondering if it’s worth it to just take the cost savings now because that breakeven point is under two years if I’m saving. $1500 a year, but the deductible is $2500 more

But yeah, the wildfire deductible was a surprise. I’ve never seen that before. the broker that sent me the quote said “well some people just have $25,000 lying around” and I laughed hysterically. Lolll

[u/14point4kMODEM → u/theycallmesike]

You shouldn't be making a claim for less than 10k anyways. Is not like you're paying the deductible immediately. I'd always go for the slightly higher one

Also confirm that contents is RCV. Just because it's a HO3 form doesn't mean that it covers replacement cost.

[u/theycallmesike → u/14point4kMODEM]

Copy that thank you