William's Blog...with a smile!


Insurance is not all the same...

Many a home owner that is trying to save a couple of bucks will find out the first time they file a claim.

A cheap insurance may not cover repairs 100%.

Many companies will "Pro-Rate" an issue.  

Roofing for one.  A new roof is worth "X" dollars.  They may look at the life of a roof being say 20 years.

If it is 10 years old, you get paid only 50% if the replacement value.

This is very true on many issues.

I am all for saving money, but, I had replacement cost on my policy...when a fire destroyed a shed, Everything got replace new.


For about $100 we didn't have to put out any money to replace our property.

Cheap is not always thrifty.

Comment balloon 6 commentsWilliam Feela • August 30 2016 07:30PM


This is excellent advice, William.  Many folks try to save money on insurance only to have it cost much more in the long run.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) over 2 years ago

Good morning William.  There is a reason why policies are different.  What one saves in monthly payments sometimes is just not worth it. 

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) over 2 years ago

My neighbor last year bragged about savine several hundred dollars a year and then he got hit with Hail,.   Roof was 13 years old and he got paid 41% because of depriciation of the old roof.  Cost him 5 grand out of pocket.   He was livid.


I asked him how his Savings on his policy was working for him now.

Posted by Vern Eaton, Realtor 651-674-7449 over 2 years ago

Good evening William. This is very true and sad. It also hurts to pay top dollar, make a claim and then be dropped to get killed with the next company.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) over 2 years ago

IMHO I think replacement costs coverage is the only way to go. It is a small price for what you get.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) over 2 years ago

A lesson that I have learned the hard way over the years, two big name companies that I will never use again are American Family and Blue Cross.

Posted by Bob Crane, Forestland Experts! 715-204-9671 (Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities) over 2 years ago