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Amy · #1 04-21-2005, 05:33 PM

I am looking into making a major purchase in the near future…about 15 – 20 thousand big. How can I figure up the amount of money I will be paying in to the insurance company monthly? I need to know how to figure up all the cost involved before I get in over my head.

gipsyrose · #2 04-21-2005, 06:00 PM

Whatcha thinkin' about buying???

I think it depends on what it is as to how much insurance will be.
Motorcycle, car, speedboat, etc.
And if it's new or used.

Amy · #3 04-21-2005, 06:23 PM

Quote:

Originally Posted by gipsyrose

Whatcha thinkin' about buying???

I think it depends on what it is as to how much insurance will be.
Motorcycle, car, speedboat, etc.
And if it's new or used.

Oh...I guess that would have been helpful huh?

I am about to buy some land and I am hoping to be able to put a manufactured home on it. I know the home will have to be insured but I don't know how to figure it so I can know if my budget can handle it before I jump head first. It's just something to start out in, so it will probably be used.

1dayatatime · #4 04-21-2005, 06:28 PM

Call around and talk with some insurance companies---I probably would go and look at the homes and see what you like---get the info about the home yr and I think they have a number like a vin number but maybe called something else and then go from there. Here in Ga its hard to get homeowners on mobile homes especially if they are older so be sure you check before you try and purchase. Also its harder to get a loan for a mobile home than a house here in Ga due to the depreciation.

Good luck
ONE

gipsyrose · #5 04-21-2005, 06:43 PM

Here is a link to some mortgage calculators. I hope this helps.
http://realestate.yahoo.com/re/calculators
Here's another one too that seperates interest from principle
http://realestate.yahoo.com/re/calcu...rtization.html
As far as home owners ins, there are a lot of factors in how they figure the prices. You could start calling around and getting quotes. Just let them know you plan on making a purchase and they'll take you from there.
They'll want to know things like how close is the nearest firestation, how many square ft, roof condition, if there are steps up to the door and how many, decks, electrical updates, how much you want your deductable to be, etc.
There may be more info they'll want to know, but that's some basic stuff to get you started with.
Good Luck and have fun!!

Amy · #6 04-21-2005, 07:16 PM

Thanks everyone. I hope that I come up with something that I can fit into my budget.

closer2mydreamz · #7 04-21-2005, 08:27 PM

I work for an insurance company called Travelers....we do auto/homeowners insurance.
Really the pricing depends on how much coverage you want...and also how low you want your deductible to be. A low deductible means a higher premuim and higher deductible will lower your premuim. Also you want to make sure you have enough Coverage A (which is the Dwelling coverage) to cover the total cost of your home if something was to happen to it and you have a total loss. You also want to make sure you you have enough Coverage C (personal property) to cover if your home gets broken into. I know a lot about insurance so if you have any other questions you can PM me.