Amica insurance feedback
Hi BP,
I am currently looking for insurance coverage for a buy and hold property in Chicago. I reached out to several different insurance companies and the quotes ranged from $707 (Amica: Renters insurance + coverage for the investment property / $1000 deductible), to NREIG $744 (with Acceptance Indemnity Insurance Company / just for the investment property / $3000 deductible) to Foremost $1350 (just for investment property / $1000 deductible). I asked for 100% replacement coverage on all quotes.
I find the price differences really strange and wonder why? This is my first house and therefore first homeowner insurance. Preferably I would like to go with Amica, due to the low price, but then I am wondering if there is a reason why they are so "cheap". I read through their dwelling policy today, but don't have any of the other policies to compare to.
Does anyone have experience with Amica with actual claims, or is aware that they have more exclusions than other insurance companies? I appreciate any input, also input on any other companies that I could reach out to, especially in Chicago. I have reached out to Metlife and Allstate for a different property before and they were also in the higher price range.
Thanks,
Anja