Posts: 45
Threads: 13
Joined: Feb 2021
Does anyone know approximate cost difference of home owner's insurance in LZ2 vs. the "non threatening" zones (Z3 and up)? I know this is a very vague question and a lot depends on deductibles, coverage, etc. but I am curious to a ballpark percentage.
Not looking for an exact dollar amount, just an on average X percent more than the others.
Anyone have experience with insurance between the zones?
Posts: 4,149
Threads: 93
Joined: Mar 2014
I got lucky and was able to get American Modern in LZ1, last fall. They stopped offering coverage in January. i assume they felt their exposure was at the limit for them. I have rather high limits on liability and it covers lava but not earthquake or hurricane. It is about $2000. HPIA quoted me me $4500 with lava and earthquake, but no hurricane. Both policies were quoted with nearly identical liability limits.
Posts: 45
Threads: 13
Joined: Feb 2021
(09-07-2021, 08:54 PM)leilanidude Wrote: I got lucky and was able to get American Modern in LZ1, last fall. They stopped offering coverage in January. i assume they felt their exposure was at the limit for them. I have rather high limits on liability and it covers lava but not earthquake or hurricane. It is about $2000. HPIA quoted me me $4500 with lava and earthquake, but no hurricane. Both policies were quoted with nearly identical liability limits.
Thanks for the info.
Posts: 926
Threads: 131
Joined: Mar 2012
We are in LZ1, had Lloyd's coverage, and were cancelled by them after our policy ran its coarse, about a year after the eruption finalized.
We never submitted any claims to them.
But, they did send an unrequested investigator out who inspected our property.
With no notice from them, we were sent 2 checks totaling almost 1/2 the purchase price we paid for our property.
Made a bunch of improvements.
Still got a few more to do yet and have coverage for the costs.
We then bought a new policy from a Kona agency for about $1500/yr, the same as what we were paying before.
It also had the lava coverage that Lloyd's didn't have.
I believe the coverage was as described by leilanidude.
It started up as Lloyd's ended, never went without.
My understanding is that the cost was equivalent to what we would have paid in LZ3.
Coverage might have been a bit short of that in LZ3.
Even so, we made out like bandits.
- - - - - - - - - - -
Was a Democrat until gun control became a knee jerk, then a Republican until the crazies took over, back to being a nonpartisan again.
This time, I can no longer participate in the primary.
Posts: 45
Threads: 13
Joined: Feb 2021
(09-08-2021, 07:21 AM)1voyager1 Wrote: We are in LZ1, had Lloyd's coverage, and were cancelled by them after our policy ran its coarse, about a year after the eruption finalized.
We never submitted any claims to them.
But, they did send an unrequested investigator out who inspected our property.
With no notice from them, we were sent 2 checks totaling almost 1/2 the purchase price we paid for our property.
Made a bunch of improvements.
Still got a few more to do yet and have coverage for the costs.
We then bought a new policy from a Kona agency for about $1500/yr, the same as what we were paying before.
It also had the lava coverage that Lloyd's didn't have.
I believe the coverage was as described by leilanidude.
It started up as Lloyd's ended, never went without.
My understanding is that the cost was equivalent to what we would have paid in LZ3.
Coverage might have been a bit short of that in LZ3.
Even so, we made out like bandits.
Quote:Wow. $1500 a year doesn't sound too bad. Do you have a name for the Kona agency? Thanks.
