Policy Comparison’s – Champeau

New Encova Proposal

Homeowners

Dwelling : $548,915
Other Structures : $54,892
Personal Property : $384,241
Loss of Use: $164,675
Personal Liability : $1,000,000
Medical Payments: $5,000

Other coverages:

25% addition amount of insurance on dwelling

Family Cyber Protection

Water backup coverage/sump failure - $15,000

Equipment breakdown coverage

Service Line Coverage

Deductible: $2,500

$1,121

Auto

Bodily Injury Liability and Property Damage
$250,000 per person; $500,000 per accident
$100,000 Property damage

Medical Payments: $5,000

Uninsured Motorist:
$250,000 per person; $500,000 per accident

Under-insured Motorist:
$250,000 per person; $500,000 per accident

Comprehensive coverage - $500 all vehicles
Collision Coverage - $500 all vehicles

Towing/roadside assistance both vehicles

Rental/extended transport - $40/day $1200 limit both vehicles

$538 for 6 months if paid in full

Total Combined Premium

$1659

vs.

Current Progressive Policy

Homeowners

Dwelling : $538,000
Other Structures : $10,760
Personal Property : $269,000
Loss of Use: $107,600
Personal Liability : $300,000
Medical Payments: $5,000

Other coverages:
Not certain from forms available to me

Deductible: $2,500

$1,011

Auto

Bodily Injury Liability and Property Damage
$250,000 per person; $500,000 per accident
$100,000 Property damage

Medical Payments: Rejected

Uninsured Motorist:
$250,000 per person; $500,000 per accident

Under-insured Motorist:
$250,000 per person; $500,000 per accident

Comprehensive coverage - $500 all vehicles
Collision Coverage - $500 all vehicles

Towing/roadside assistance: NONE

Rental/extended transport: NONE

$772 for 6 months if paid in full

Total Combined Premium

$1783

vs.

Other Agent Erie Proposal

Homeowners

Dwelling : $538,000
Other Structures : $107,600
Personal Property : $332,800
Loss of Use: Up to 12 months
Personal Liability : $300,000
Medical Payments: $5,000

Other coverages:
Not certain from forms available to me. Does not specify

Deductible: $2,500

$870

Auto

Bodily Injury Liability and Property Damage
$250,000 per person; $500,000 per accident
$100,000 Property damage

Medical Payments: Rejected

Uninsured Motorist:
$100,000 per person; $300,000 per accident

Under-insured Motorist:
$100,000 per person; $300,000 per accident

Comprehensive coverage - $500 all vehicles
Collision Coverage - $500 all vehicles

Towing/roadside assistance

Rental/extended transport

$1,318 if paid in full

Total Combined Premium

$2,188

★★★★★

General notes:

Overall policies are quite similar as they stand. My homeowner’s proposal has a couple more added optional coverages such as equipment breakdown and service line coverage which I do believe are great coverages to have. I do know that Progressive home offers these coverages as well but don’t see them listed. I also have $15,000 in water backup coverage vs the $10,000 on Progressive quote. The auto is extremely close in everything. Biggest difference is Progressive 6-month policy vs my quote is a 12-month policy. With a 6-month policy your policy will be re-rated every 6 months vs a year so the likelihood of the premium staying exactly the same on the renewal to make the 12-month comparison is very slim so the Progressive 12-month total would likely be slightly higher. We have also been noticing in our own book of business that Progressive home renewals are jumping in premium after the first year for whatever reason usually due to their discount structures.