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Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.

 
Anonymous Coward
User ID: 30614630
United States
01/10/2013 08:46 PM
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Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.
I was paying $1800.00 per year for homeowners as I wasn't paying attention. The insurance company just auto-renewed the policy each year as the Mortgage company escrowed the payment and got the policy directly. These coverages were from 2008 when housing prices were still somewhat levitated. Check out your coverages as the housing values have been reduced but the insurance companies will say nothing to you and keep auto renewing your policy. My house was over insured by 109% as I am going with a new policy with AllState.

For $599.00 saving $1200.00 per year !!!!!

5a
Anonymous Coward
User ID: 757988
United States
01/10/2013 08:53 PM
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Re: Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.
Lesson - never sign up for ANYTHING auto renew, magazines included.
Anonymous Coward (OP)
User ID: 30614630
United States
01/10/2013 08:56 PM
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Re: Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.
Lesson - never sign up for ANYTHING auto renew, magazines included.
 Quoting: Anonymous Coward 757988


It was through the Mortgage Company as they escrow, recieve and pay the policy directly. I should have been reviewing it but it passed my scrutiny. Never again. Just trying to help people reduce their monthly costs around here.

$100 a month is "HUGE" in savings for Homeowners !!banana2
Anonymous Coward
User ID: 15917555
United States
01/10/2013 08:57 PM
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Re: Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.
Lesson - never sign up for ANYTHING auto renew, magazines included.
 Quoting: Anonymous Coward 757988


^THIS^

No auto anything!
Anonymous Coward
User ID: 20675367
United States
01/10/2013 09:01 PM
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Re: Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.
I was paying $1800.00 per year for homeowners as I wasn't paying attention. The insurance company just auto-renewed the policy each year as the Mortgage company escrowed the payment and got the policy directly. These coverages were from 2008 when housing prices were still somewhat levitated. Check out your coverages as the housing values have been reduced but the insurance companies will say nothing to you and keep auto renewing your policy. My house was over insured by 109% as I am going with a new policy with AllState.

For $599.00 saving $1200.00 per year !!!!!

5a
 Quoting: Anonymous Coward 30614630


Unless your mortgage company will perform a escrow analysis more often than once a year you will still pay out the same amount. By law they are only required to do an analysis once a year. You can ask them if they will perform another one but they are under no obligation to do so
Anonymous Coward (OP)
User ID: 30614630
United States
01/10/2013 09:03 PM
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Re: Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.
I was paying $1800.00 per year for homeowners as I wasn't paying attention. The insurance company just auto-renewed the policy each year as the Mortgage company escrowed the payment and got the policy directly. These coverages were from 2008 when housing prices were still somewhat levitated. Check out your coverages as the housing values have been reduced but the insurance companies will say nothing to you and keep auto renewing your policy. My house was over insured by 109% as I am going with a new policy with AllState.

For $599.00 saving $1200.00 per year !!!!!

5a
 Quoting: Anonymous Coward 30614630


Unless your mortgage company will perform a escrow analysis more often than once a year you will still pay out the same amount. By law they are only required to do an analysis once a year. You can ask them if they will perform another one but they are under no obligation to do so
 Quoting: Anonymous Coward 20675367


But that means I will have a surplus in the escrow ?

Right ?
Anonymous Coward
User ID: 16939956
United States
01/10/2013 09:05 PM
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Re: Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.
I live coastal in Florida...feeling the pain of house insurance...they say that I have to insure for the rebuild cost of 160,000 when the house is valued at 54K for tax!!!
Anonymous Coward (OP)
User ID: 30614630
United States
01/10/2013 09:07 PM
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Re: Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.
I live coastal in Florida...feeling the pain of house insurance...they say that I have to insure for the rebuild cost of 160,000 when the house is valued at 54K for tax!!!
 Quoting: Anonymous Coward 16939956


What is your note balance ? Who is they ?
Anonymous Coward
User ID: 16939956
United States
01/10/2013 09:11 PM
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Re: Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.
they is the insurance company and my note is a little over 10K
Anonymous Coward
User ID: 20675367
United States
01/10/2013 09:11 PM
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Re: Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.
I was paying $1800.00 per year for homeowners as I wasn't paying attention. The insurance company just auto-renewed the policy each year as the Mortgage company escrowed the payment and got the policy directly. These coverages were from 2008 when housing prices were still somewhat levitated. Check out your coverages as the housing values have been reduced but the insurance companies will say nothing to you and keep auto renewing your policy. My house was over insured by 109% as I am going with a new policy with AllState.

For $599.00 saving $1200.00 per year !!!!!

5a
 Quoting: Anonymous Coward 30614630


Unless your mortgage company will perform a escrow analysis more often than once a year you will still pay out the same amount. By law they are only required to do an analysis once a year. You can ask them if they will perform another one but they are under no obligation to do so
 Quoting: Anonymous Coward 20675367


But that means I will have a surplus in the escrow ?

Right ?
 Quoting: Anonymous Coward 30614630


Yes this is true
Anonymous Coward
User ID: 31930695
United States
01/10/2013 09:11 PM
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Re: Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.
The dodgy fuckers I deal with would give you the run around, and circle jerk, all the livelong day.

Insurance is really nothing but a racket invented by criminals.

The Insurance Rackets have conned most States into mandating it.

The Insurance syndicate reaps the benefit, at the expense of rate payers, it's just like taxes.
Anonymous Coward (OP)
User ID: 30614630
United States
01/10/2013 09:20 PM
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Re: Attention Everyone, as I saved $100 on my mortgage payment by reviewing my homeowners insurance policy.
The dodgy fuckers I deal with would give you the run around, and circle jerk, all the livelong day.

Insurance is really nothing but a racket invented by criminals.

The Insurance Rackets have conned most States into mandating it.

The Insurance syndicate reaps the benefit, at the expense of rate payers, it's just like taxes.
 Quoting: Anonymous Coward 31930695


Thats why I called AllState and only gave them the info that they needed to give me a quote not the other insurance companies price of $1800.00
When the Agent gave me my quote in an email I then told her what the other azzwipe was charging me.

She said Whoa !!!!!!!!!!!!!!!!!!!!!!!!!!! scared

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