My current insurer has me at 320K, so I got 2 quotes and one company won't go under 371K and it's rated 80% by JD Powers, whereas the other company will insure at 320K and is rated 100%, both have 1million umbrella, I think more than 320K coverage is excessive, personally

the first company wants $832/year, the latter $969

should I pay a bit more for higher rating with a bit less coverage?

The short answer is you need to cover the replacement cost of rebuilding the structure as new if it were to be totally destroyed. Now how much coverage that requires is kinda arbitrary because if you got 10 quotes on rebuilding your house new, you would have ten different opinions.

As far as the quotes you received, without knowing the deductibles on each, It's hard to compare.


Also, don't just go for higher coverage. For instance If your replacement cost is 350k but you decide to insure for 500k, you'll be paying higher premiums, but if your house is destroyed, you'll only recieve the benefit of what the actual replacement cost is, so it doesn't make sense on its own to get higher coverage amounts if a lower amount will cover the damages.

Forget about the rating, it has nothing to do with the coverage that you need. You have to look at the value of your home and all it's contents. Shop around a bit more. Also, check with your local assesor to see what they value the house at.

as much as you can afford....and you want the most coverage you can get...this is your house, your home, your life...it's not like with a car you can get a rental til it's fixed or you buy a new one.