Good company for master building insurance policy?

Was wondering if anyone can recommend a good company for a master insurance policy – i.e., the “walls-out” policy that covers the common areas and the building exterior, NOT individual condo “walls-in” insurance, which is the unit owners’ responsibility to buy for their own individual units.

I’m the condo association president for our brownstone (which has only 2 units, one of which I own and live in). Our building’s master policy recently expired. We’ve been using the Brownstone Agency for the past three years, but I’ve read unflattering things about them, and the renewal options they’re offering us now all basically amount to less coverage for a higher annual premium.

christophe.maso

in General Discussion 8 years ago

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brokelin | 8 years ago

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You should also contact the insurance company that wrote the policy – Brownstone (at least when my former coop used them) didn’t write policies themselves, but sold policies provided by various insurance companies. You will want to try to find out whether the insurance company on the policy stole your money, or if Brownstone Agency did that on their own. (That is to say, did Brownstone forward your payment to the insurer, or did the insurer cancel payment because Brownstone pocketed your payment rather then forward the requisite amount to the insurer?) In any event, if it was the insurer, you may want lodge to a complaint against them as well. If it was the insurer, you wouldn’t want to buy a new policy from them through a different sales agency. If you find out that it wasn’t the insurer, then you should let them know what Brownstone is doing while selling their policies.
.
I hope you get some recommendations for other insurers – I have none to suggest curre ntly. I always found the condo and coop council, cnyc.com, to be a useful source of info and service providers on such matters.

brooklynmmlady | 8 years ago

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Thank you for the suggestion. I was hoping they would resolve the issue, but it sounds like I should contact financial services.

brooklynmmlady | 8 years ago

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Thank you for the suggestion. I was hoping they would resolve the issue, but it sounds like I should contact financial services.

brooklynmmlady | 8 years ago

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Thank you for the suggestion. I was hoping they would resolve the issue, but it sounds like I should contact financial services.

slopefarm | 8 years ago

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Consider inquiring with NYS Dept of financial services. They regulate insurers and perhaps there have been recent filings (liquidation, reorganization, etc) from BA. Or you can file a complaint.

brooklynmmlady | 8 years ago

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I have similar concerns about Brownstone Agency. We have been clients for 18 years. In April, I renewed my policy and paid the full premium for three years in advance. They cancelled the policy for no reason and after 60 days– both illegal. And they won’t refund the $5,052 premium they owe me. They don’t respond to calls, email, fax… I even wrote to the Chairman and got no answer.

brooklynmmlady | 8 years ago

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I have similar concerns about Brownstone Agency. We have been clients for 18 years. In April, I renewed my policy and paid the full premium for three years in advance. They cancelled the policy for no reason and after 60 days– both illegal. And they won’t refund the $5,052 premium they owe me. They don’t respond to calls, email, fax… I even wrote to the Chairman and got no answer.

brooklynmmlady | 8 years ago

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I have similar concerns about Brownstone Agency. We have been clients for 18 years. In April, I renewed my policy and paid the full premium for three years in advance. They cancelled the policy for no reason and after 60 days– both illegal. And they won’t refund the $5,052 premium they owe me. They don’t respond to calls, email, fax… I even wrote to the Chairman and got no answer.