How much to pay for homeowner's insurance?
I am considering purchasing a Brownstone in BKLYN and wanted to get some thoughts on homeowner’s insurance. I’ve spoken to a few agents, but my head is spinning. Specifically, I’d love some thoughts from the community on: – How much should an annual premium cost for good coverage (I’ve gotten quotes that range wildly, from…
I am considering purchasing a Brownstone in BKLYN and wanted to get some thoughts on homeowner’s insurance. I’ve spoken to a few agents, but my head is spinning. Specifically, I’d love some thoughts from the community on:
– How much should an annual premium cost for good coverage (I’ve gotten quotes that range wildly, from $3k to $13k) – the home costs $2.5mm, btw.
– What should home dwelling replacement be? If the house were to be wiped out, how much coverage should I get to rebuild it?
– Any agents that anyone on the board would recommend?
Thanks in advance!
Oops, link didn’t work:
http://bstoner.wpengine.com/forum/archives/2008/04/insurance_recs.php
Actually someone on another thread said Chubb would pay to recreate all the period details, even if it cost more than the stated am’t. See here.
Give Brian O’kane at State Farm (718.429.7781) a call, he’ll lay out the best possibilities for you.
We got a policy that’s about 300/month for about 1 mil in replacement. Never had a claim (knock wood).
The guidelines ourlined in the first two posts are sound.
We live in a 20×40 brick row house. Chubb provided me with some outrageous quotes (11-13K/yr) when our old policy expired and we were shopping for new. In the end, we stuck with Brownstone/AIG with came in at $11K for 3 years.
I have never made a claim with them.
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i have a 3-family in harlem that’s insured for 720k that i occupy one unit in. it costs me 2100 a year. it’s through state farm and i have a 5k deductible.
Some good comments already. We just bought in August and had trouble finding anyone to provide coverage. In the end we had a choice of AIG / CHUBB and firemans fund. Ultimately we went with AIG as they had the same coverage for a cheaper price.
Its a good point in terms of having to cover the mortgage amount, alas that one cost us. Our house is @1.4m and full replacement costs runs a premium of 4k per year.
Check out Bollinger insurance. They provided quotes on AIG and Chubb.
My homeowners insurance for my co-op (valued at 300k) with coverage up to $1 mil is roughly $300/yr.
My renters insurance for a co-op (value 225k) is only $200/yr.
Properties are in the Bronx and Queens, respectively.
State Farm is the insurer.
How about insurance for coop’s?
How much?