Getting Dropped By Allstate
I’ve gone through the archives and have seen many varying comments on insurers,etc. I’ve finally fallen victim to Allstate’s policy of dropping Brooklyn Brownstone owners because our properties are ” too close to water “. I see state farm getting raked over the coals, but their premiums are incredibly tempting. Brownstone Insurance inc as well….
I’ve gone through the archives and have seen many varying comments on insurers,etc. I’ve finally fallen victim to Allstate’s policy of dropping Brooklyn Brownstone owners because our properties are ” too close to water “.
I see state farm getting raked over the coals, but their premiums are incredibly tempting. Brownstone Insurance inc as well. But can someone give some concrete advice(i.e. real, consistent, negative or positive experiences with these insurers that warrants the commentary? )
I’m not interested in hearing ” with premiums so low, how can they afford to cover you etc.?”
And likewise, if you have a wonderful story of an insurance carrier that is perfect for you, please share.
Thanks.
There is a new option, the New York Brick & Brownstone program run by Distinguished Programs and underwritten by AIG. Brownstone Agency had AIG until they decided to move to some company called Everest. Distinguished seems to be a very professional operation, good prices and 1 or 3 year policies (optional). There is a Claims section on their website. The only thing is they only work through brokers so I had to get one. It wasn’t the worst thing to let someone else negotiate my insurance for me.
http://www.distinguished.com/classes-nyb-cover
I got dropped as well this week and am on Bergen in Park Slope. They insist it’s re: hurricane issues.
So we were just dropped by Allstate too…apparently the reasons are going to be sent out shortly in the mail. We live near the Brooklyn Children’s Museum Brooklyn/Bergen…so I don’t know how it can be for flood damage…
State farm isnt the best, but it isnt the worst either.
What a terrible accident and damage, 10:36.
There’s not one person who can say State Farm would have paid that claim, if it had been State Farm not Chubb. Even those who are fans of State Farm fully know they wouldn’t have paid it.
Anybody used TriState ? I just got a quote that was reasonable for a 2 family, 3 story in NCrown Heights.
I have a policy with Chubb for a 4 story 2 family brick townhouse. I pay around $5000/year. I thought this was too much until I experienced a leaky toilet and massive flood which ruined 3 ceilings and 3 wood floors. Note: I was in the midst of a bathroom renovation, when the old toilet exploded (5 hours of running water). Chubb has a clause that notes “any accidents happening from construction will not be covered” – I was very nervous becuase I thought they would deny my claim, even though it was an accident caused by an old toilet (regardless of construction). The inspector came over (super nice guy), reviewed all the damage, saw that I was undergoing a major bathroom renovation, examined the toilet, asked questions and wrote my a check the next day for repair work for everything. He also said they claim would remain open, in case I had additional expenses. Chubb referred a contractor (which I used) for the repairs – when the contractors estimates were more $$ than the payout, Chubb paid additional $$ to cover the higher costs. AND unbeknownst to me, I had loss of renters insurance for my tenants. Chubb paid for 2 months of rent to cover the suspension of rent. I agree with 8:53 – You need to protect your most important purchase.
…one of the most important purchases in your lives and you’re dealing with companies that require you to redial until you find a winner? …and you trust them to pay out a claim?
You guys are stupid.
While you pay brownstone upfront, you also get to lock in an insurance rate for 3 years, which is a good thing right now. As for the idiots who answer the phone, the trick is to hang up and redial until you find a winner. Then ask for their name and extension so you can get back to them. This is true for all call centers, but particularly with them.