I posted this in the homeowners forum also, but posting here in case there is someone who is not on that and has something to contribute. Also note that for the 30 years that we have owned this place, we have not had any kind of claim (storm or otherwise) We're wrapping up our remodel project and I need to update my insurance. I'm less concerned about storm damage than I am about fire/lightning. Seems that I see more homes damaged by fire than by storms (except oceanfront in erosion-prone areas). This is a second home, we do not rent. I received the following quotes. One is a dwelling policy that covers wind/hail and other perils. The other is a wind/hail policy that is paired with a homeowners policy. Thoughts? What do you have? Quote 1 - $3,500 NCJUA Dwelling DP2 - Named storm deductible $15,000 other perils $2,500 Liability $1M Quote 2 - $5,187 NCJUA Wind/Hail HW3 - Named storm deductible $4,600 other perils $10,000 Homeowners policy - All perils deducible $2,500
@gfury - Use Towne Bank personnel to handle the insurance policies: Wind, Flood, and Homeowner's. Total for year is $5,400.00. 2K of that is the wind policy. Also, this cottage is very modest, but water front so that makes a difference. Towne Bank searches and keeps up on everything which has made the painful process less painful. Don't know the deductible off of the top of my head, but it was relatively high. Got a little bit of a Wind insurance break when the fortified roof was put on a couple of years ago. Your home looks great and best of luck to you.
is your habitable space now at ground level?
@Alexy Ground level is unfinished. It will be used as storage in the short term. There are plumbing rough-ins for future living space.
I have used many insurance companies since building 1st home in 1991. I am currently using Goosehead Insurance with a local agent. They use Progressive and also the NCJUA wind policies. Mine is a HW policy which has better coverage than a DP2 policy. Jennifer Dixon is the agent 252-220-4185 in Southern Shores. Let her explain your options.
@gfury be careful with that. One of the main factors effecting a base rate is the height of habitable living space above the ground and the flood line that has been determined.
@Alexy Thanks. We filled the lot to make the ground floor 9.1' above sea-level. (basically added 2 feet). That currently meets Nags Head requirements for ground floor living space. It will be up to my kids to finish off the lower level when they inherit it 😏