Money is tight for our family now and we just received the statement from the Mortgage company that they paid the insurance and now added it to the escrow. Its a total of $ 1,983 from State Farm and even though it can be spread out from 12-36 months its going to be hard to shell out more every month. One option the mortgage company agent said over the phone was to look around for a new premium. So I going to do that but what I want to know is, will every agent have a different quote even if they are from the same company? For example there are 25 Allstate agents in town so would it be as waste to get quotes from a few of those agents because I’ll just get the same result since their with allstate? Any other companies or ideas you can think of? Insurance is a must since we live along the coast and a Hurricane in June and Trop. Storm a few days ago just missed us by 200 miles. I hope i make sense im in still in college but had to grow up fast due to the loss of my dad, and now im try my best to learn the ends and outs of home ownership. thanks
I did contact him last week, he couldn’t really do anything for me. If the amount was brought down I would receive less coverage say on a flood or fire. He basically told me that state farm appraises the value of my house if they think its worth $ 150,000 that’s what they go with even thought the county has it appraised at $ 120,000. If a tornado or something was to completely blow the entire house down they would send a check of $ 150,000.