How much increase in homeowners insurance?

[JLROOT]

I live in north central Ohio. Want to heat with wood next year. I have 3 cords cut so far. This probably will be a furnace in the basement. I want to know what you guys pay extra in homeowners insurance. I have heard as low as $9 a month and as high as $100 a month. I may build an outside furnace if the rates are too high.

 

[EastwoodGang4]

Mine was 50 dollars a year. I had to fill out some paperwork about the installation and if the unit was inspected by the building/fire department. insurance co's aren't all the same though.

 

[wdchuck]

$300/yr, all they cared about was clearance to combustables, they measured, took a couple pics and that was it.

 

[HUSKYMAN]

$300/yr, all they cared about was clearance to combustables, they measured, took a couple pics and that was it.

CRIPES, $300! There goes half the money you would save vs buying nat gas, depending on your setup

 

[wdchuck]

CRIPES, $300! There goes half the money you would save vs buying nat gas, depending on your setup

Our LP bill would be $900/mo during the heating season.

So $300/yr added on to ins bill is nothing, and they didn't squabble about the fact that I installed the woodfurnace.($500 unit + $150 double wall smoke pipe). I'm ahead of the game after the first month.

 

[Locoweed]

No change for my wood stove after I had the fire marshal inspect and approve the installation.

 

[reaperman]

I have Allstate, they didnt charge any extra for my wood furnace. I told the agent my home was brand new (1 1/2 yrs old now), and he said if the home was under 10 yrs old they wouldn't even come and inspect it. The first insurance company I contacted while building the home wanted an additional $600/year. It does pay to shop around.

 

[iCreek]

Some friends of mine heat with wood indoor furnaces, and they told me if the wood heat was not the sole/primary heat, there were no adjustments to their rates. So oddly enough everyone 'supplements' their home heat with wood, leaving the propane or natural gas furnace sitting idle.

Heck how would they know anyway, my agent has never been on my property.

 

[HUSKYMAN]

Our LP bill would be $900/mo during the heating season.

So $300/yr added on to ins bill is nothing, and they didn't squabble about the fact that I installed the woodfurnace.($500 unit + $150 double wall smoke pipe). I'm ahead of the game after the first month.

$900/month! Cripes!

How much is LP going for in your area? This is my first year with LP, luckily I was able to get my OWB going right away. I think around here its like 2.69/gallon

 

[aandabooks]

Allstate, nothing added. They just wanted some piece of the install done by a professional with a receipt on file. We don't have a fire marshall for inspection.

 

[paladin]

I think ours is about 25-40 extra a year and they came out and inspected it and toke pictures. I would check other companys only thing with our company they will not let you use one in a detached garage or shop. When I get to having one may have to go owb or other insurance.

 

[olyman]

we had a compnay in iowa--and they said we no longer insure wood burners--hmmm. so, being it was october!!!! i called about 10 diff ins co's--finally found one in waterloo,ia--they hooked me with westfield ins co out of ohio. and from the last co i was insured with---MY RATES DROPPED!!!!!!!!!!!!!!! i have more coverage, and better ins. my ins co said there were about five co's they could hook me with

 

[uglydukwling]

Lots of differences among companies. My previous company didn't like woodstoves. I can't remember how big the premium increase was but it was substantial, and it sounded like they weren't going to let me use the stove much longer anyway. The kid they sent to inspect kept quoting specs for combustible walls. When I pointed out that the walls were solid masonry, he couldn't find any regulations for non- combustible construction and didn't know what to do. They didn't care about fireplaces, though, so I took out the stove and built a fireplace around a heatilator-type liner. Another interesting quirk was that they would refund the extra premium if the stove was removed (removing the stovepipe so it couldn't be used was good enough). So that was what I did for the first couple of summers until I built the fireplace. That meant I was only paying the extra premium for half the year.
It was all for nothing though. They got out of the farm insurance business, and the new company said there was no difference between stoves snd firplaces. The extra premium isn't listed separately on the policy, so I don't know if it's gone up, but initially (about 5 years ago) it was $50 each for this fieplace and another one.

 

[oneoldbanjo]

When I was building my new home I researched the issue to help me decide where to put my furnace. Originally I had planned on adding a room into the basement concrete pour that would be for a wood burner. Any woodburner in the house that was not a fireplace would add 40% to my premium...including an insert, add on, or free standing burner. It didn't matter to them if it was in a fireproof concrete room. An outdoor woodburner added nothing to the premium.

 

[Ken05]

Another plug for Allstate. My house had a woodstove in the basement and one in the garage when I bought the house 12 years ago. Premiums have always been in the low 300's anually

 

[Zodiac45]

we had a compnay in iowa--and they said we no longer insure wood burners--hmmm. so, being it was october!!!! i called about 10 diff ins co's--finally found one in waterloo,ia--they hooked me with westfield ins co out of ohio. and from the last co i was insured with---MY RATES DROPPED!!!!!!!!!!!!!!! i have more coverage, and better ins. my ins co said there were about five co's they could hook me with

Nice going. Yep these Insurence company's kill me. They always try the scare tactics first. "If you don't go with us and the exhorbinant amount, you'll be put into a risk pool, Blah, blah, blah......I had a company out of Boston (One Beacon) wanting 2 grand a year for 750k of insurence on my 200+ year old house. I told them look, I don't need that much coverege, give me 400k plus the formula they use for contents and outbuildings (whether or not you have any). The agent looked at me like I had two heads and said no way we can sell you what you want! It's the 3/4 of a mil or nothing. Then the risk pool story. I almost bit, but instead decided to call around. Ended up getting exactly what I wanted and for $698 a year versus the 2 grand! It really pays to shop around!

 

[Vibes]

Nationwide didn't raise mine at all. They did have an inspector look at the finished product though.

I contacted them prior to having my chimney built and got there specs. When I gave them to my brick layer, he said his specs were more rigid than Nationwides. I think they do charge more for prefab though.

You have to really shop around and have your insurance broker reveiw newly enacted company services. When looking for there chimney regs, my broker found out that if I joined the Pa. Farm Bureau, I would get a 15% credit towards my Auto/ Homeowner rates. It cost me $75 to get $215 dollars worth of discounts.

Also have your agent look for discount waivers that you can sign on to. Several that I have in affect are, no trampolines, a list of certain viscious dogs and a limit on the companies liabilities if some one sues you do to mold exposure in your house. That was the funniest one, but I guess in certain parts of the country, mold exposure is the new wiplash.

I got good coverage and several real good discounts. Still seems like everytime theres a hurricane in Florida though, my rates inch up.

 

[Grace Tree]

I've had the same insurance agent and HS Tarm boiler since 1978. No increase in my homeowners insurance for the boiler.
Phil

 

[Zodiac45]

Nationwide didn't raise mine at all. They did have an inspector look at the finished product though.

a limit on the companies liabilities if some one sues you do to mold exposure in your house. That was the funniest one, but I guess in certain parts of the country, mold exposure is the new wiplash.

I got good coverage and several real good discounts. Still seems like everytime theres a hurricane in Florida though, my rates inch up.

+1 Lol yep They don't even cover the mold deal anymore. Too many people were getting the whiplash! And I hear you on that hurricane bizz, for the longest time it was "due to 9/11"

 

[Joshlaugh]

$25. I sent in pictures and info on the company that installed it to get it approved.