Ned Simmons wrote:
In article ,
says...
Anyway, I can insure the whole $200K property plus all normal
homeowner contents for $1000, but they want $1800 to insure
$45 grand of tools? What the hell is going on? It also took
me months to get my $950 deposit back, which I wasn't too
happy about.
I don't know what correlation there is between commercial
and residential insurance rates by region, but our
homeowner's policy, covering a value similar to yours, is
$302/year. This is in a small town in coastal Maine.
I guess there isn't much earthquake risk in ME. There is a
significant earthquake risk in MO and states immediately
south, due to the New madrid fault system. It last let go
in 1811-1812, and rang bells in Boston. Dire predictions
of a similar-sized quake today would level everything from
Chicago to Memphis.
So, that is a serious component of the total premium.
Jon