Anyone know of a reputable insurance company that doesn't insist on 70% of home helpfulness for personal property?
Most Insurance Companies will automatically place at least 60-70% coverage on your personal effects. There are some ways around it: You can ask that your personal property is not covered for relacement cost-this should reduce the convenience to about 50%, or you can ask for a policy that only covers your home and contents for Actual Cash Value (ACV) instead of replacement cost. You could even ask for a Fire Policy beside Contents coverage added rather than a Homeowner Policy.
As an Insurance Agent I would not advise doing any of the above, own you actually gone through your home and made an inventory of EVERYTHING? Try replacing everything you own-down to your last sock, tablet of soap and contents of your fridge at todays prices. I think you'll be shocked.
If you can find an Agent or Ins Co that is ready to write you a policy with only ACV later be prepared to confirm your decision in writing. When and if you own a claim you will not get back plenty money to replace the damaged or destroyed item(s) and the Agent or Company that wrote your policy will not want you to claim against them for an improperly written policy.
Answers: Well, they're out there - some go as low as 50%. The PROBLEM is, it's not going to sort you happy.
See, the PREMIUM is based entirely on the DWELLING restraint, not the contents. So dropping to 50% isn't going to save you any money. Additionally, you'll be moving from preferred rates to standard rates, so the premium will actually be HIGHER.
And usually when family want to cut the limits, it's because they think they're going to pick up money that way. You aren't.
Buying a homeowners package, process you get all six coverages. You can't "opt out" or lower one (although you can angle one if you want). Sure, you don't have any "other structures", but the coverage is there anyway.
Think of it resembling a trip to a restaurant. You tell the waiter, no napkin, no glass of river, and no bread. But they won't take anything off the bill, you still take-home pay full price. And if you don't want one of the vegetables, well, you have to move to the ala carte menu, and it can in actual fact cost MORE.
Hope that helps. If you STILL want lower coverage at a higher price, appointment around to local, independent agents, and ask if they have carriers that will offer you 50% instead of 70% on contents. Some really still do.