I just got my bill for the coming year. I actually dropped the barn and indoor from the coverage to try to save money. I would not replace them if anything happened, I am headed towards retirement and selling in a couple of years. I have 1900 square foot house, 9 boarders and only teach the boarders on their horses or ride their horses. I have 2 retired horses and two riding horses.
The bill was for 8,000. Is this what the going rate is these days? I also have no mortgage.
Wow! That’s alot. You might try joining your State Farm Bureau association. Nationwide is affiliated. I suppose it may be related to your location, as well.
thanks!
I neglected to add Nationwide should give a discount to FB members.
1 Like
IF There was a natural disaster the maximum assistance from FEMA is capped at $41,000 to make the dwelling habitable
Since the barn and arena are used as a business those would not qualify for any FENA assistance, the SBA has disaster loans. At times there may be grants available for some hardship cases, I was able to procure a grant for an individual who lost their source of income due to flooding, they had attempted to claim the loss as personal property but it could not be covered by FEMA.
Several years ago I checked other carriers and reduced my insurance cost by over 50% while increasing coverage by 100%. A property needs to be insured at least 80% of its total replacement cost to avoid penalties for being underinsured.
1 Like
What does this include?
Is your Care, Custody and Control rolled into that? Liability for teaching lessons too?
yes, the house and the liability
So I posed the same question on a local FB page and made a call to some of their suggested agency’s and saved 3,500.00 and got better coverage! Yay!
Shop your insurance every few years and you may be amazed!
3 Likes
