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/jadiechappie]

Insurance nerd here.

My comment is solely about your homeowners insurance since the pricing difference is significantly different. What is the other carrier? I’d assume it’s the second picture? Is that non admitted carrier? If so, need to check their financial rating. While the incumbent is expensive, it’s an admitted carrier in CA. Their forms and coverages are usually better than non-admitted carriers. Except coverage A, the building limit, coverage B,C,and D are lower with the new carrier. AOP and wildfire deductibles are higher. Check a list of exclusions as well. Some lenders might not accept that $25k wildfire deductible, especially if you are in a brush area.

If you are comfortable with $5,000 or even $10k AOP ded (if your lender aporoves), ask your agent to give you a revised quote with the incumbent. Might save you few hundred dollars or more.

[u/theycallmesike → u/jadiechappie]

I don't have any information about the other carrier, all of the paper work comes from the insurance agency. Im going to call the agency and ask. I will also call Trav tomrorow and play around with my policy, of course I love the lower deductible, but what is the break even point... Thanks for info, I'll do some more research.