My wife and I are under contract for a home in Plano (around 2,500 sq ft.) and are shopping for insurance. We are currently renting so this is our first time hitting the market; I know that prices have skyrocketed the past couple of years. Our auto policy is currently with State Farm and I received a homeowners quote for $4,800 earlier today, which works out to be approximately $400 a month. Meanwhile, our lender has estimated the home insurance cost to be approximately $225-250 per month, which is a pretty big disconnect. With this in mind, I have two questions:
1. Is the quote from State Farm abnormally high, or does this seem reasonable? It wouldn't surprise me if the lender's estimate is off, but I don't want to be drastically overpaying either.
2. Who have y'all had luck with shopping around with? Also, advice on any companies to avoid would be useful. My wife and I aren't necessarily trying to go with the absolute cheapest option, but rather someone who will reasonably follow through if a claim comes up.
3. Are brokers such as Liere worth it? What is the typical annual cost to have a broker shop policies?
1. Is the quote from State Farm abnormally high, or does this seem reasonable? It wouldn't surprise me if the lender's estimate is off, but I don't want to be drastically overpaying either.
2. Who have y'all had luck with shopping around with? Also, advice on any companies to avoid would be useful. My wife and I aren't necessarily trying to go with the absolute cheapest option, but rather someone who will reasonably follow through if a claim comes up.
3. Are brokers such as Liere worth it? What is the typical annual cost to have a broker shop policies?
