bigoldalphamale

please dont move this to tilted finance. i need a quick answer for this question and it will take days to get answered there.

on average, what % of my monthly mortgage payment will be made up of HO insurance. a conservative estimate just to get me in the ballpark would be great.

i know there are a billion factors, but say a $600k home, what range should i expect a monthly HOI payment to be?

$50?
$120?
$300?
$1200?


Thanks!!!!

onetime2

I pay .25% of the coverage amount. It seems to be inline with the rates of my family and friends with homes of various values. One thing you need to remember about coverage is that chances are slim you will ever lose the value of the land so it's more the structure and belongings that you're covering. Fire burns your home to the ground you can always rebuild on the lot.

That would put it at about $1500 annually for a $600k house but as you said there are a ton of variables (past homeowner's claims, flood insurance, region, etc, etc, etc)

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bigoldalphamale

awesome! exactly what i needed to know! Thanks!!!!!!!!!!!

Francis

26 years in the insurance field here. buy the amount it would cost to replace your home if it was destroyed. get extra coverage for valuable jewelry, watches, fine arts. toss any questions my way.