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Home Owners Insurance and Pellet Stove

Post in 'The Pellet Mill - Pellet and Multifuel Stoves' started by teddy1971, Aug 28, 2008.

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  1. teddy1971

    teddy1971 Member

    Joined:
    Jul 10, 2008
    Messages:
    172
    Loc:
    Orange County NY
    I just spoke to a rep from my insurance company and she informed me that installing a pellet stove will affect my home owners insurance premium. She stated that it will go up but not by an huge amount. Probably by a $200 dollars. Can any of you gentlement tell me what you experience has been. Don't get me wrong the increase will not out way the saving that I will have but I am just curious about others experiences.

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  2. 90durham

    90durham New Member

    Joined:
    Jul 18, 2008
    Messages:
    53
    Loc:
    Southeast Ontario
    Hi: I am with State farm here in Ontario and my agent said as long as it's a WETT certified install there's no additional charge.
    had the stove installed today and enjoying my 1st burn.
    Regards
  3. BubbRubb

    BubbRubb New Member

    Joined:
    Dec 19, 2007
    Messages:
    265
    Loc:
    Hagerstown, MD
    My insurance company didn't increase the premium. Just asked if it was profesionally installed. Many others report the same thing. If the $200 seems a little unjustified, shop around for a new ins. company.
  4. corn4myheat

    corn4myheat New Member

    Joined:
    Aug 4, 2008
    Messages:
    17
    I have a LMF multi-fuel furnace and my insurance rates went up $50.00 a year and that was in Jan. 06
    The insurance man said that it was because of the "Solid fuel " rating that it was listed as on the
    Underwritters label
  5. tinkabranc

    tinkabranc Minister of Fire

    Joined:
    Oct 23, 2007
    Messages:
    1,640
    Loc:
    South Coast MA
    No increase here, but they did ask for a copy of the permit
    and a copy of the spec sheet from the stove manual for their files.
  6. offingmoot

    offingmoot New Member

    Joined:
    Jul 15, 2008
    Messages:
    171
    Loc:
    Central/South Jersey
    i got an insert installed and they said as long as its in the existing fireplace and chimney no premium change
    although i did not tell them i would have 3-5 tons of pellets sitting in the basement!!! at the time i didnt even realize i would
  7. pelletwood

    pelletwood Member

    Joined:
    May 1, 2008
    Messages:
    67
    Loc:
    Lehigh Valley, PA
    State farm in PA rates will increase $50.00 with the agent coming out to take pictures.
  8. MCPO

    MCPO Minister of Fire

    Joined:
    May 1, 2008
    Messages:
    2,191
    Loc:
    western Ma , close to NY state border
    My house is insured for $335K (based on the Insurance company replacement value) I paid this years premium Aug 2008-Aug 2009 of $506.00 of which included was a surcharge of $35 for the pellet stove.
  9. firewarrior820

    firewarrior820 Feeling the Heat

    Joined:
    Aug 26, 2008
    Messages:
    265
    Loc:
    auburn maine
  10. terryjd98

    terryjd98 Member

    Joined:
    Jul 1, 2008
    Messages:
    91
    Loc:
    Ontario Canada
    I am with Wawanesa insurance in Ontario and they said my rates would go up $200.00 a year when I get the pellet stove in. Won't know for sure untill I have it installed and call them back again. I might need to look around for insurance, already pay $1,000.00 a year on a house the insurance put at $225,000 replacement value.
  11. kt1i

    kt1i Member

    Joined:
    Jun 18, 2008
    Messages:
    69
    Loc:
    Central MA
    My insurance Safety Ins. (Boston) said no extra charge. They just want a copy of the signed building permit showing that it passed inspection. If a company was going to charge me an extra $200, I would be shopping for a new one.
  12. richkorn

    richkorn Minister of Fire

    Joined:
    Jul 28, 2008
    Messages:
    582
    Loc:
    SE CT
    My agent said NO increase, just save the permit and building inspectors sign-off. But, I already have a fireplace -- My pellet stove (Lopi Leyden) will vent up the existing prefab flue.
  13. itworks

    itworks New Member

    Joined:
    Jul 23, 2008
    Messages:
    206
    Loc:
    Southwestern CT
    When I switched to Fireman's Insurance Co. in 2005, they originally provided me with an online form that included "do you have a wood, pellet, or coal stove?" I indicated I have a pellet stove installed in my home. They sent an inspector who told me "that's a great stove, wish I had one, and it's installed properly." I pay an additional $ 60 annually, not complaining, but I think it's ridiculous. I strongly suggest that you provide your insurance Co. with accurate honest answers to their questions. In the case of a major claim they will investigate everything and try to find a reason not to make a payment.
  14. imacman

    imacman Guest

    Exactly...that's what they do...find any reason to not pay claims, or tie it up in court so long people finally can't afford to do it any longer and they cave for MUCH less than they should get, whether it's car, house, or whatever kind of insurance.

    I'll make VERY sure that my ins. company knows exactly what I'm installing. I already have the "building permit" from the town, copies of install instructions, UL #, and after the inspector signs off on it, copies of all that is going to the insurance company whether they like it or not.

    Hopefully, since I already had a wood stove (that the insurance company knew about and covered in my policy), my rates shouldn't change, or maybe go down...
  15. bostonbaked

    bostonbaked Member

    Joined:
    Jul 27, 2008
    Messages:
    241
    Loc:
    south shore
    Checked with my agent, he says the company I'm with won't charge extra, but some others he sells for do. So check around for best deal I guess.
  16. kbjelka

    kbjelka New Member

    Joined:
    Jul 10, 2008
    Messages:
    258
    Loc:
    Western CT
    Called my agent and he said they do not care about pellet stoves and require no permit or inspection. He said they do care about wood stoves but no increase on the pellet stove. Our company is Middlesex Mutual Insurance.
  17. imacman

    imacman Guest

    Nice to hear.....hopefully they have good rates too.
  18. Jakethepup

    Jakethepup New Member

    Joined:
    Aug 3, 2008
    Messages:
    94
    Loc:
    Central Kentucky
    I have yet to have the insert installed however, the insurance agent told me this. Since I already have a fireplace and only adding the insert into the fireplace opening there would be no increase. However if it is a new install meaning having to installed a new venting system via a new flue or venting thru the wall it would increase the amount from about 50.00 dallars to 200 dollars a year. One other thing he did say if I replacing the furance with a pellet or corn or other bio fuel, it would also increase, but not for the reasons you might think. Not so much from the risk from a fire but was from a neglected user problem, which includes freezing pipes and thing like that, not keeping the furance running correctly that would make other problems happen in your home. I really never thought about it but you never know when you might have to leave home for a few days in the middle of winter and if the furance was not feed fuel, no heat so you would have freezing pipes and other problems that could happen.

    But getting back to your question no increase in my insurance.
  19. chrisasst

    chrisasst Minister of Fire

    Joined:
    Aug 13, 2008
    Messages:
    1,185
    Loc:
    cortland ny
    oh my, I didn't even think about my insurance. I have had my stove a year now, should I call my insurance now and tell them I just got it installed or what should I do....crap
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