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Originally Posted by SentToStud
What does "one youth per liablity" mean?
Do you think $5,000/year for 4 cars and a house is a lot?
Auto/home insurance not my racket but if you've been with the same ins carrier for a long time the biggest thing to think about is to make sure the replacement value assumption used on your house is current. It costs a lot more to rebuild a home today than 12 years ago.
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one youth on a liability only car. mark is 21, but still considered a youth for ins purposes (of course he is, so they can charge more). so since i have three youths, and only two cars with liability coverage, one of the three has to go on a car with full coverage.
and as for the five k per year, two of the four cars are 17 and 18 years old...so the coverage on those two is minimal.
the house has some good and some bad going for it--brick exterior which helps the cost, but a volunteer fire dept as first responder, and no fire hydrants near by is a negative.
we supposedly are well covered house wise. we checked after katrina/rita to make sure we were well covered.
as for whether we pay more or less than others, i don't know. but i do know the ratio of premiums paid to claims filed is tilted quite a bit in the ins co's favor!