Homeown insur. going up(again) !
We have a 3 story (ground floor, 2 more floors above , brick)house in 11216 CHN. When we first purchased our home in 2007 we got our home owners insurance through Travellers. It was really expensive – well over 4000 a year. Then following advice of a Broker we switched to another company. They started…
We have a 3 story (ground floor, 2 more floors above , brick)house in 11216 CHN. When we first purchased our home in 2007 we got our home owners insurance through Travellers. It was really expensive – well over 4000 a year. Then following advice of a Broker we switched to another company. They started charging us about 110 USD a month, then mid way in our first year it escalated to 188 USD a month (and it was not optional). Now we have received a renewal for the next year, and it will be approx 250 USD a month or 2,926 USD a year. This includes Dwelling 740,000 Other structures 74,000 personal property 518,000 personal liability each occurance 300,000. Contents replacement costs. Is this right ?
Can anyone recommend another company and pronto ! THANK YOU
If you need any help, I am an independent broker. I will shop through most major carriers for you.
William Smoltino
Narrows Insurance Agency
(718) 745-1500 (from 9:00AM – 5:30PM)
(718) 745-2520 (anytime)
We hate paying what we pay to Chubb but FYI, State Farm has a terrible rating in paying claims and customer satisfaction. They’re among the worst if not the worst in that regard. What they did to people in the gulf states after Katrina was criminal.
Thank you all. I followed up with State Farm and initial quote was good. Lets see after they actually see the house for the final quote…Thanks to all, and DIBS in particular
Max Pollack on Van Brunt St got me a ridiculously low rate from Travellers. It’s a three year deal, so goodness knows what it will be like when that term ends. Many places wouldn’t touch us with a barge pole, either, because we are in a flood zone.
Get a good broker who knows underwriters at many different insurance companies and shop around. A good broker will haggle with chubb/state farm/everyone else and get a you the best price possible (hopefully) playing one off of the other. Since most of these guys probably either lost a bunch of money in the last few years/are watching their business contracting, they’re going to try to soak you for as much as they can if you don’t stop them… But at the end of the day, the last thing they will want to do is lose your business in the current economic climate.
Chubb. Heh heh.
I second State Farm.
I’ve never experienced escalation like that which is a completely different issue.
I switched all of my coverage from Chubb to State Farm. Chubb overinsures and is ridiculously expensive.
Call Sylvia at State Farm for a quote 718-692-2500. Tell her Dave in Bed Stuy referred you.