I thinking about switching over to Geico for home insurance. My current insurance through StateFarm has a dwelling coverage of $400,000. The Geico rep was trying to sell me on a plan that had a dwelling coverage of $312,000 + 25% "extra if needed", stating that he could save me about $100/year in premiums, and that it was the same as having a flat $400,000 dwelling coverage. He was new, and unable to sufficiently explain the difference between the flat $400k coverage and the $312k + 25% coverage, but it seemed like a good way to save a penny if the two really are the same. Does anyone understand the difference, and is it worth the cost savings? Thanks!
December 27, 2018 at 11:27AM
