Looking for Insurance recommendations

3 Replies

Hi, Any recommendations on property insurance companies in SD? And what to look out for in terms of coverage? Thanks!

we have some of our units insured by USAA (as well as our vehicle coverage) and some by Farmers.  

USAA is cheaper.  They also are more selective as well as not open to the general public.   USAA would not provide us an umbrelka policy because of how stringent their criteria is.  

Farmers cost more but they are not as stringent.  In addition to having some units insured by them they also are the provider of our umbrella policy.  

We got a quote recently for a full package insurance but it was not cheaper than our current mix in large part because of the low cost of the USAA insurance. 

If you qualify for USAA and they will insure you they are tough to beat.  If you cannot get insured by USAA then if you have a lot to insure then best to use a universal full package insurance.  

I have no complaints about Farmers except their cost is a little higher than the other options but they give us good service and were willing to provide us an umbrelka coverage that USAA was not willing to provide.  

Good luck. 

There are a lot of options out there when it comes to property insurance coverage. I agree with @Dan Heuschele on USAA being one of the top. Especially, with how they handle their claims process and coverages. If you don't qualify for USAA, shop around for the best price with higher coverages. It is better to be properly insured than save a few dollars monthly in the event of disaster.

Area's of caution:

  • Condo Policies: Make sure you know what is covered under the HOA CC&R's. That will dictate the coverage under your condo policy. Too often, condo owners are under insured thinking the HOA will assist.
  • Landlord Policies: There are two types of policies - long term rentals & short term/vacation rentals.
    • If you run a short-term rental and a vandalism/theft claim is filed, it will not be covered under the typical landlord (DP3) policy. There are specific policies for short-term rentals.

If you have any specific questions, please do not hesitate to reach out to me directly.  Hope this helps.

@Natalie Zwaan I go through Geico which comes out to $866 per year for a fourplex in Vista. I've also heard great things about USAA but obviously don't qualify. Hope this helps!

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