Insurance Rates - C...
 
Notifications
Clear all

Insurance Rates - Car and Home  

 

PlanningFor2024
(@PlanningFor2024)
New Member
Joined: 5 years ago
Posts: 3
July 21, 2015 8:37 pm  

Hello all,

Can anyone share the general rates for a single adult for moderate insurance coverage (1-2k deductible, etc.) for a vehicle valued at 10-20k?

What can I expect for a $300k home for HO insurance?

Do they vary greatly by island - I'm specifically interested in STJ.

I know utilities are killer, food and supplies in general also. R there other big expenses that are a surprise to most?

Thanks in advance (way in advance)
PlanningFor2024 🙂


Quote
Alana33
(@Alana33)
Expert
Joined: 8 years ago
Posts: 12275
July 21, 2015 9:39 pm  

Um, that's 9 years from now.
Rates change.


ReplyQuote
East Ender
(@east-ender)
Expert
Joined: 15 years ago
Posts: 5374
July 21, 2015 10:21 pm  

$300,000 for a house on St John will probably be difficult in 2024. 😉 That might be the biggest surprise.


ReplyQuote
rmb2830
(@rmb2830)
Advanced Member
Joined: 12 years ago
Posts: 447
July 21, 2015 10:22 pm  

Had to laugh...a $300,000 home on STJ? I actually looked at MLS, and there are 5 places listed under $300, and all but one don't even have CO's (except for the one that looks like a garage). Not too realistic


ReplyQuote
PlanningFor2024
(@PlanningFor2024)
New Member
Joined: 5 years ago
Posts: 3
July 21, 2015 11:05 pm  

Ok, you salty sailors. Let me refine/adjust my q's.

1. Can anyone share the general CURRENT rates for a single adult for moderate insurance coverage (1-2k deductible, etc.) for a vehicle valued at 10-20k? (someone told me they pay $5k/year for an island car and two adults - just trying to debunk or verify this as the ball park.)

2. I would think that HO insurance could be estimated at a % of replacement value of the house. Does anyone know the ballpark of what that rate CURRENTLY is?

Thank you for your support:P


ReplyQuote
OldTart
(@the-oldtart)
Expert
Joined: 9 years ago
Posts: 6523
July 21, 2015 11:22 pm  

Maybe you should just call one of the larger insurance agencies (i.e. Theodore Tunick on St Thomas, 340-776-7000 who handle both home and auto insurance) and get current ballpark figures from them. Information such as this is best gained right from the horse's mouth and maybe they can even hazard a wild guess how prices will change in 9 years time.


ReplyQuote
East Ender
(@east-ender)
Expert
Joined: 15 years ago
Posts: 5374
July 22, 2015 12:37 am  

Okay, I can't really help you. 🙂 Car insurance rates are lower than stateside. But then I think coverage is less also. When you ask about homeowner's insurance, you have to think: concrete or wooden construction, wind insurance, flood insurance,etc.


ReplyQuote
TommySTX
(@TommySTX)
Advanced Member
Joined: 6 years ago
Posts: 220
July 22, 2015 11:10 am  

I have full coverage just like I had back in the states on 2 vehicles(a 2013 model and a 2006 model) and pay less than $700 a year for car insurance. I use USAA which not everyone is eligible for.

HO insurance usually runs between 1.5% and 2.5% of the home's value per year. This is on a concrete block construction. A wooden structure I would imagine is a bit more. This is obviously just an estimate and cost could be higher or lower depending on the specific situation.


ReplyQuote
speee1dy
(@speee1dy)
Expert
Joined: 12 years ago
Posts: 8775
July 22, 2015 4:45 pm  

i pay about 900 for 2 vehicles. one is full coverage the other is not


ReplyQuote
janeinstx
(@janeinstx)
Trusted Member
Joined: 8 years ago
Posts: 666
July 22, 2015 5:03 pm  

A wooden structure I would imagine is a bit more.

I don't remember what we pay for HO insurance. What I do remember is that when we bought our house the insurance company requested photos of the house. In one photo it showed a part of the house that has purely decorative wood siding ( over concrete). The agent called to verify that it was concrete under because the insurance company they write thru would absolutely not cover a wooden structure..


ReplyQuote
Alana33
(@Alana33)
Expert
Joined: 8 years ago
Posts: 12275
July 22, 2015 6:35 pm  

Some agencies will cover wood but at a higher rate than concrete construction. Best to have a termite inspection if buying wood frame home.


ReplyQuote
PlanningFor2024
(@PlanningFor2024)
New Member
Joined: 5 years ago
Posts: 3
July 22, 2015 7:34 pm  

Some great info here. Thank you!


ReplyQuote
jasona
(@jasona)
Advanced Member
Joined: 6 years ago
Posts: 84
July 24, 2015 9:53 pm  

Yesterday I paid $278 for insurance in STX on a Toyota valued at $9k. I have no accidents or tickets in the last 3 years.


ReplyQuote
terry
(@terry)
Expert
Joined: 15 years ago
Posts: 2552
July 25, 2015 12:37 am  

for car insurance your bet buy if you qualify is through USAA.


ReplyQuote
vicanuck
(@vicanuck)
Expert
Joined: 10 years ago
Posts: 2515
July 29, 2015 11:47 am  

Car insurance is ridiculously cheap in the VI, especially for teen drivers. I never complain though. I'm sure its because so many accidents are settled on the roadside.


ReplyQuote
Settlers Handbook

Thinking about moving to the Virgin Islands?

The Settler's Handbook is a Indispensable Guide

The current 19th Edition, will help you explore your dream of island living. A solid reference book, it was first published in 1975. That's 40+ years of helping people move to the Virgin Islands.

Order Today $19.95
Close Menu