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发帖数: 1130 | 1 不方便写中文，多包涵
just got the appraisal report, and lender asked for the home insurance.
sale price:500k
20% down, so the loan amount is 400k
appraisal value: 550k
land value: 54k
total estimated of cost-new: 493k
depreciation 49.3k
depreciated cost of improvements (493-49.3=443.7k)
1) when quote from insurance company, I should use loan amount $400k or
replacement cost $493k in (A)Dwelling. my understanding is to use the lower
one 400k.
2) in most quote, the system automatically enter some value in (A)Dwelling (
range from 460k to 693k).
should I change it manually to be 493k?
3) some company (such as progressive) provide increase/extended dwelling (
either 1.25x or 1.5x).
let's say I choose 1.5x, does that mean I can put 329k (=493/1.5) in (A)
Dwelling, and extended dwelling to be 1.5x?
The other question, what's the benefit to choose $329k with 1.5x, instead of
$493k?
4) for progressive, the deductible for wind and hail is 1% - it doesn't give
option of $1000, $2000...
in my case, 1% mean $4930 deductible -- if I understand correctly, this is
too high?
5) When I quote on costco/ameriprise website, I submit the quote online
without issue.
PREMIUM IS $132/month, or $1588/year.
Then I called agent to verify something. Agent realize the roof is 23 years
old, he stop and said ameriprise don't insure if the roof is 20 years old...
Do you know any insurance has loose requirement on roof age?
6)i am in IL, the quote I got from online range from $1588/year to $2600/
year. not sure if it's too expensive?
I use this typically:
personal liability: 100k, medical: 5k, dedutible $1k
6) is there any insurance cover the damage incurred from permit issue?
7)I have escort account. when I purchased insurance before closing, will I
pay for the first year using credit card, and the fund I allocated in
escort is only for next year?
Thank you very much! |
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