Home Insurance for Brownstone in Renovation
We are in the process of closing on a brownstone in need of renovation, and looking for a home insurance who will cover our home. We talked to Amica, and they said they would need an engineer’s report, and might have their own people come out to evaluate, but even with that- still not cover…
We are in the process of closing on a brownstone in need of renovation, and looking for a home insurance who will cover our home. We talked to Amica, and they said they would need an engineer’s report, and might have their own people come out to evaluate, but even with that- still not cover due to the high replacement cost…
Does anyone have suggestions on a insurance company they’ve used as they purchased a brownstone in need of a reno?
thanks so much for your help!
Thanks everyone, actually All State was able to cover for us, pending a roof fix..
Thanks everyone, actually All State was able to cover for us, pending a roof fix..
Chubb.
KAZ; You cannot be serious! If you got what you refer to as “double talk” then you were probably not asking the right questions. I always get yes/no answers from Lehman, and amounts he quotes are exactly what you get in writing.
Depending on the scope of the reno, some homeowners policies may cover it. If there is major work, most will not. You may need a builder’s risk policy in place during the course of construction. If you are interested in a few options, please call me and I’ll be able to tell you if any of the companies I represent would write you a homeowners policy or if you’d need a builder’s risk.
William Smoltino
Narrows Insurance Agency, Inc.
718-745-1500
Stay away from C. Lehman! Does not give straight answers. He will double talk you.
This has come up a number of times, so you might search past threads for more suggestions. We had a lot of trouble finding insurance for our crackhouse renovation. The only company that we were able to find that would write the policy was Chubb. It is very expensive and we had to switch all of our other policies over to get a better rate. We also had to put in temporary central station alarm pre-renovation and have had to have interim inspections along the way. A real(expensive)pain after having had USAA all my adult life, but, as I said, the only option we could find.
I was in exactly your situation some years ago, and everyone recommended I talk to the broker Chris Lehman at the Brownstone Agency in downtown Manhattan. He covers thousands of Brooklyn brownstones, almost all in some need of restoration, so he knows what policies are best for replacement costs. Even if you go with another agency it could be worth your time to meet him and assess your particular needs and concerns.
cllehman@brownstoneagency.com (212) 962-5620
Fireman’s Fund will do it. They’ll give you a homeowner’s policy and bump up the premium for builder’s risk while you are renovating, tehn drop it down when you are done enough. Better than getting separate builder’s risk. Call Dorothy Cohen at HUB.