Insurance Rates - C...
 
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Insurance Rates - Car and Home

 
PlanningFor2024
(@PlanningFor2024)
New Member

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 🙂

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Topic starter Posted : July 21, 2015 8:37 pm
Alana33
(@alana33)
Expert

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

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Posted : July 21, 2015 9:39 pm
East Ender
(@east-ender)
Expert

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

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Posted : July 21, 2015 10:21 pm
rmb2830
(@rmb2830)
Advanced Member

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

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Posted : July 21, 2015 10:22 pm
PlanningFor2024
(@PlanningFor2024)
New Member

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

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Topic starter Posted : July 21, 2015 11:05 pm
OldTart
(@the-oldtart)
Expert

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.

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Posted : July 21, 2015 11:22 pm
East Ender
(@east-ender)
Expert

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.

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Posted : July 22, 2015 12:37 am
TommySTX
(@TommySTX)
Advanced Member

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.

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Posted : July 22, 2015 11:10 am
speee1dy
(@speee1dy)
Expert

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

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Posted : July 22, 2015 4:45 pm
janeinstx
(@janeinstx)
Trusted Member

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..

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Posted : July 22, 2015 5:03 pm
Alana33
(@alana33)
Expert

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

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Posted : July 22, 2015 6:35 pm
PlanningFor2024
(@PlanningFor2024)
New Member

Some great info here. Thank you!

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Topic starter Posted : July 22, 2015 7:34 pm
jasona
(@jasona)
Advanced Member

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.

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Posted : July 24, 2015 9:53 pm
terry
(@terry)
Expert

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

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Posted : July 25, 2015 12:37 am
vicanuck
(@vicanuck)
Expert

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.

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Posted : July 29, 2015 11:47 am
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