Brooklyn Homeowners Insurance? - close to water...

Hey guys,

This is a question for those of you who own a brownstone in Brooklyn for that is less than 5 miles away from the closest water source (ie east river)

I have called Liberty Mutual and after 30 min of torture she informs me that they will not insure us because we are too close to water.

What company do you use? Any contacts would greatly be appreciated!

irozhko

in General Discussion 7 years and 11 months ago

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EJR | 7 years and 11 months ago

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I can’t speak to whether Gotham will do multi-family properties, but they certainly do know how to navigate the New York market, which the national carriers/brokers do not, as evidenced by the ridiculous water-proximity issue. I have a Chubb policy which I obtained through Gotham. You will likely have better success with them than by going to the insurer directly.

daveinbedstuy | 7 years and 11 months ago

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Try State Farm too

nicolschen | 7 years and 11 months ago

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Lena— We’re in the process of buying a home south of Prospect Park and had the same experience with Liberty Mutual and at least one other insurer. Reps from both said the house was too close to the coast, even though the water is miles way. We ultimately succeeded in getting quotes from Geico (Occidental), NatGen Premier, AIG, and Amica.

irozhko | 7 years and 11 months ago

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My situation is a bit unique since we are doing a 3 month post close possession with the sellers as well as a ~ 3 month renovation right after (thus we are not occupying for at least 6 months). Brownstoner as well as couple of others called us complicated and told us we can reach out to them after we move in. 🙁 Reached out to Chubb independent representative…he said he will get back to me. Jeez i thought this would be the easy part

mozeeatupu | 7 years and 11 months ago

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I don’t think Gotham or Brownstone do insurance for multiple family properties though. And also look into an umbrella policy.

SoSlope | 7 years and 11 months ago

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Our premium would not be particularly helpful to you since it will depend on the type of home, value, deductible, limits, liability, contents, claims history, etc. Chubb is certainly not the least expensive, but they are the company you will want if you ever have a claim (and that is why you buy insurance). You pay a bit more, you get more. If rock bottom cost is the only consideration, then you will probably find a lower premium elsewhere.

slopefarm | 7 years and 11 months ago

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that is weird. Between east river and various bays, I can’t imagine anyone in Brooklyn is more than 5 miles from water.

We are insured by ACE through HUB International (policy was originally underwritten by Fireman’s).

EJR | 7 years and 11 months ago

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Try Brownstone Agency or Gotham Brokerage.

irozhko | 7 years and 11 months ago

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Wow, thats so weird notfromny. Will try again.

notfromny | 7 years and 11 months ago

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I have Liberty Mutual and just got a quote on a Brownstone in Prospect Heights we will be buying. No mention of water proximity! Maybe it’s the agent you spoke with?

BobMarvin | 7 years and 11 months ago

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It looks like Liberty Mutual has decided to abandon the NYC market (assuming that the representative the OP spoke to is correct). Fortunately there are lots of other companies. FWIW we’ve used the Brownstone Agency for >40 years.

irozhko | 7 years and 11 months ago

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hmm maybe…never really calculated.
What is your rate (if not a secret) and is it single family?

SoSlope | 7 years and 11 months ago

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    string(1) "0"
  }
  ["ID"]=>
  int(16781)
  ["caps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(1) {
    [0]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

Isn’t all of Brownstone Brooklyn within 5 miles of the East River or New York Harbor? In fact, I would assume that that vast majority (if not 100%) of all five boroughs are within 5 miles of tidal water. We use Chubb.