Haven't had home insurance for probably 10 years and since, I called all these so called lower your cost insurance companys for a price. We can beat them. When I tell them I have a pellet or corn stove the cost doubles even though with a fire place it don't increase the price. The fire place is alot more danger than the pellet or corn stove with all the safety devices and none on a fire place. I consider it more safe than my elec. central heat. Any comments or other places to shop for home insurance?
rural insurance and pellet stove
- Thread starter tglass
- Start date
- Views: 4397
2manyrocks
Super Member
- Joined
- Jul 28, 2007
- Messages
- 8,668
Do you have a local farm bureau? That's where we got our insurance.
The insurance company may ask why you want insurance now.
The insurance company may ask why you want insurance now.
dave1949
Super Star Member
Years ago, pellet stoves got a bad reputation because the pellet feeder would jam open or something and the pellets in the hopper would do a slow smoldering burn. This caused a lot of smoke damage in the home. I think in Canada, they were either banned or un-insurable for a while.
I haven't heard of that happening at all with the newer stoves and it seems they have fixed the issue. That history may have something to do with the insurance rates. That's just my WAG.
Dave.
I haven't heard of that happening at all with the newer stoves and it seems they have fixed the issue. That history may have something to do with the insurance rates. That's just my WAG.
Dave.
Sort of like the insurance companies asking if you have a dog and what breed. Some jack the rate for certain breeds that have historically shown to bite more.
I would imagine the pellet stoves are the same, if their experience says more fires/smoke damage happen with pellet stoves, then there ya go.
I would imagine the pellet stoves are the same, if their experience says more fires/smoke damage happen with pellet stoves, then there ya go.
What most people do not realize is that insurance is all about risk management. Some risks are simply unacceptable and others require a premium surcharge.
I would have to ask the OP why he has decided to buy insurance after 10 years of not having it. I do believe most insurers see that as an issue and would be understandably cautious.
I would have to ask the OP why he has decided to buy insurance after 10 years of not having it. I do believe most insurers see that as an issue and would be understandably cautious.
keegs
Veteran Member
I'm concerned about risk of asset loss and not just from fire or storm damage. Many consider the purchase of an umbrella policy over and above their homeowner policy for liability protection. You can spend a lifetime acquiring assets only to see them vanish in a lawsuit.
Umbrella policies are not a bad idea. Check with your insurer to see how high you can raise the liability on a base policy. If you want $1 million of protection, you may be able to get it on the base policies, (home, auto, boat, etc) at a lesser cost than the umbrella. If you want more than $1M, then you will need the umbrella.
dmccarty
Super Star Member
Check you state Farm Bureau for insurance.
Later,
Dan
Later,
Dan
om21braz
Veteran Member
Insurers now probably have some of the best statisticians available, not to mention high-powered computers/databases. They're as good at oddsmaking as any Vegas casino - maybe better. If they charge you more for something, chances are higher they will have to pay out on it.
keegs
Veteran Member
I have mine with Allstate. They required me to have a certain amount of liabilty coverage on my home and auto insurance (I think it was $500k). The umbrella coverage covers claims above what those policies cover. With Allstate the umbrella policies come in $1m increments. Premiums are resonable.... I guess