insurance what should it cost?
Hey folks, if I were to insure an 7 res unit (and 1 store)4 story building. what should I expect to pay annually? The building is in cobble hill and was built in 1900 est. Good condition. Thanks in advance.
Hey folks, if I were to insure an 7 res unit (and 1 store)4 story building. what should I expect to pay annually? The building is in cobble hill and was built in 1900 est. Good condition.
Thanks in advance.
Next year try and call the Brownstone Agency and ask for Ralph he did the insurance on my house, his number i2 212-699-8981.
thanks joe i’ll be calling.
Hi Batfish,
I work for an agency in Long Island that writes a lot of Building insurance in Brooklyn and Queens. Jest last week we wrote a 7 family with a Jewelry store on the first floor in the 11209 zip code with a company we do a lot of advertising with. In this clients particular case, they decided to insure the 4800 sq foot building for $648,000 in Building coverage, the policy included Special Form(which means water damage is included, for example a pipe burst) loss of rents, equipment breakdown for the boiler, and $1,000,000 occurence $2,000,000 aggregate for liability. The annual premium is $2,268.09. Depending on what the store is we may not be able to write it with this company, for example a bar or restaurant or a deli with deep fryers/grills, but in most instances that is not a problem. As long as the building is an above average, well kept building, with circuit breakers it will have no problem qualifying with the company’s guidelines. Please give me a call at 516 484-5200.
Thanks,
Joe
Marsh is the largest commercial insurance broker in the world, insuring fortune five hundred companies not small residential buildings in brooklyn. This site is very informative except for all the blatantly incorrect information.
no, not $23k… like one eighth that.
I just bought insurance for, remarkably, a 7 unit co-op in cobble hill. I did use a broker in long island, and got much better coverage at a much lower price than we had had for the prior 6 years.
thank you 3:12.
All insurance policies are based on a number of factors, one of the most important is how much risk you are willing to take. In other words, what type of property & liability coverage you want to get.
You should call an independent broker (marsh or someone) to walk you though the process. Insurance is very confusing.
Lastly, be sure to get “flood coverage.” Its cheap and doesn’t jsut cover floods, but water perils, such as flooding due to a broken water main, boiler, etc.
Good luck.
Serious? $23k exactly? Anyone want to help confirm this?
23,000 us dollars