Amica insurance feedback

[Anja Brey]

Hi BP, 

I am currently looking for insurance coverage for a buy and hold property in Chicago. I reached out to several different insurance companies and the quotes ranged from $707 (Amica: Renters insurance + coverage for the investment property / $1000 deductible), to NREIG $744 (with Acceptance Indemnity Insurance Company / just for the investment property / $3000 deductible) to Foremost $1350 (just for investment property / $1000 deductible). I asked for 100% replacement coverage on all quotes. 

I find the price differences really strange and wonder why? This is my first house and therefore first homeowner insurance. Preferably I would like to go with Amica, due to the low price, but then I am wondering if there is a reason why they are so "cheap". I read through their dwelling policy today, but don't have any of the other policies to compare to. 
Does anyone have experience with Amica with actual claims, or is aware that they have more exclusions than other insurance companies? I appreciate any input, also input on any other companies that I could reach out to, especially in Chicago. I have reached out to Metlife and Allstate for a different property before and they were also in the higher price range. 

Thanks, 
Anja

[Daniel Preston]

Hi Anja,

Licensed P/C insurance agent, that has done plenty of work with Dwelling Policies.  If you have the files in PDF format, please feel free to send them my way and I'll review them and show you the differences.

From a coverage standpoint, they're pretty much the same.  The difference in price just breaks down to how hard each company has been hit with claims in the past.

Living in RI right now, Amica is a local company and is VERY good at what they do!  VERY good.  I don't write for Amica, as they're a direct company, but I have my own personal insurance through them instead of using companies I represent.

Hope that helps!