Homeowners policies are like cars. There are different types with different options. And all of those options affect the premium. Your neighbor may have chosen a higher deductible, or chosen to buy a policy that does not provide as much coverage, or chosen to buy a lower amount of insurance.
There are other factors that affect the premium as well. Without reviewing your neighbor's policy it is hard to tell whether they purchased a "Chevrolet" or a "Cadillac".
For more information contact the Thumann Agency: (972) 991-9100
Or use our quick quote form: http://thumannagency.com/business-insurance
Insuring Families and Businesses in Dallas for over 20 years...