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Re: Homeowner's Insurance
#37
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jcneighbor wrote:
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hero69 wrote:
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jcneighbor wrote:
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hero69 wrote:
any opinions on AIG homeowner's insurance"?


As a former Insurance Broker, I can tell you that I would never use any AIG company for my own coverage.
why not?


Well, I dealt with them on high-value stuff, not just homeowners which you asked about. Standard protocol when notified of a claim is to deny coverage. Then it gets litigated, sometimes for years, before a legitimate coverage payment is made. I spent 20 years in that industry and I saw it firsthand. Insurance requires a certain amount of trust between both parties. They expect you to pay the premium and you expect them to pay for covered loss or damage. I won't do business with a company that I don't trust-
gracias

Posted on: 4/6 14:12
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Re: Homeowner's Insurance
#36
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Quote:

hero69 wrote:
Quote:

jcneighbor wrote:
Quote:

hero69 wrote:
any opinions on AIG homeowner's insurance"?


As a former Insurance Broker, I can tell you that I would never use any AIG company for my own coverage.
why not?


Well, I dealt with them on high-value stuff, not just homeowners which you asked about. Standard protocol when notified of a claim is to deny coverage. Then it gets litigated, sometimes for years, before a legitimate coverage payment is made. I spent 20 years in that industry and I saw it firsthand. Insurance requires a certain amount of trust between both parties. They expect you to pay the premium and you expect them to pay for covered loss or damage. I won't do business with a company that I don't trust-

Posted on: 4/6 14:10
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Re: Homeowner's Insurance
#35
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SRhia wrote:
@MDM: are there good books, blogs or discussion forums that you recommend for wanna-be future real estate moguls?


This book was very helpful:

Landlording

Also have a lawyer that specializes in tenant / landlord law review your lease to make sure it conforms to NJ law. I found out I had an error in mine that made it much harder to collect late fees and recoup costs of damage done by tenants.


Posted on: 4/6 13:37
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Re: Homeowner's Insurance
#34
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Quote:

jcneighbor wrote:
Quote:

hero69 wrote:
any opinions on AIG homeowner's insurance"?


As a former Insurance Broker, I can tell you that I would never use any AIG company for my own coverage.
why not?

Posted on: 4/6 13:36
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Re: Homeowner's Insurance
#33
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hero69 wrote:
any opinions on AIG homeowner's insurance"?


As a former Insurance Broker, I can tell you that I would never use any AIG company for my own coverage.

Posted on: 4/6 13:25
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Re: Homeowner's Insurance
#32
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any opinions on AIG homeowner's insurance"?

Posted on: 4/6 13:19
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Re: Homeowner's Insurance
#31
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@MDM: are there good books, blogs or discussion forums that you recommend for wanna-be future real estate moguls?

I'm very new to real estate / landlord thing, but want to read more about it to educate myself - so one day when I do have the capital, I can invest - and do it right!!!

You sound like a pro - can you recommend a few learning resources for newbies???

TIA!

Quote:

MDM wrote:
NJ Manufacturer's insures homes up to 2 family in size. I had them when I lived in a 2 unit. No issues and very comprehensive coverage.

I use them for "renters" insurance since I technically rent from my LLC. They even give me earthquake coverage.

Posted on: 3/29 22:43
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Re: Homeowner's Insurance
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NJ Manufacturer's insures homes up to 2 family in size. I had them when I lived in a 2 unit. No issues and very comprehensive coverage.

I use them for "renters" insurance since I technically rent from my LLC. They even give me earthquake coverage.

Posted on: 3/29 21:20
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Re: Homeowner's Insurance
#29
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HamiltonParker wrote:
I too live in a Circa Abraham Lincoln, flat roof house and received homeowner's insurance through Chubb, who holds all of our other policies. It's pricey, for sure, but when we've had claims with them in the past (frozen water pipes) and everything was handled with remarkable speed. They're known as the *white glove* choice but the premium paid for their services was quickly forgotten when bad things happened.


I Agree about Chubb being the best, for all of the reasons that you stated.

My premiums have not increased to any significant degree since signing up for my Historic Home in 2006.
[but I must give credit to my agent at Muller who is on top of her game & the best I have ever seen in 40+years.]

Posted on: 3/29 21:14
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Re: Homeowner's Insurance
#28
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heights wrote:
I wish I had a friend in the insurance business then I would not have to give out my name, rank, and serial number just to get a quote. I bet those in the industry could get and give a ball park figure anytime.


IMHO::::Best in the Business for all of my properties, residential/commercial/mixed-use buildings w/ all kinds of roofs [who became a friend of over 17yrs.] is Donna Stokes at MULLER INSURANCE , 930 Washington St, Hoboken, NJ 07030
Phone: (201) 659-2403

Posted on: 3/29 21:06
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Re: Homeowner's Insurance
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Just wondering:

for a three bedroom, 1300 sq ft apartment in an old brownstone walk-up building, how much would insurance be roughly?

I understand it would vary depend on a lot of different things, but just want a ball park figure for how much the basics would be.


Posted on: 3/29 17:26
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Re: Homeowner's Insurance
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Thanks for the replys. What I am really looking for are suggestions for insurance that will cover what they consider aggressive dog breeds. Any input from dog owners would be greatly appreciated.

Posted on: 3/29 17:20
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Re: Homeowners Insurance
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HPYC wrote:
Not happy to pay flood insurance premiums because I think the whole thing is basically a scam, but we have to have it to get a mortgage, so we do.


C'mon, somebody's got to pay for all those shore houses getting washed away again and again! As I understand it, our Flood covers nothing but the actual structure, it has to wash away, which doesn't happen here. So we're getting scammed. I explored applying for foundation damage, but it did not look promising.

Posted on: 3/29 11:56
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Re: Homeowners Insurance
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We went with Petrocci Agency on Kennedy Blvd - (201) 434-4760. 1/2 of our house is in the flood zone, so effectively the whole thing is. They set us up with both homeowners and flood insurance. Satisfied with the agent. Not happy to pay flood insurance premiums because I think the whole thing is basically a scam, but we have to have it to get a mortgage, so we do. I have a poor memory, but I think policy is with Travelers.

Posted on: 3/29 11:27
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Re: Homeowners Insurance
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I had a hard time getting insurance because I was on a "flood plain" in Paulus Hook. Liberty Mutual was the only insurer, but they've been great.

Posted on: 3/29 10:45
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Re: Homeowners Insurance
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We go with Mueller Insurance, (201) 659-2403, give them a call and see what/if they can be of service.

Posted on: 3/29 10:25
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Homeowners Insurance
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Hi,
We have a mix breed dog that has made it difficult to obtain homeowner insurance at a reasonable cost. For the last few yrs we have been using Lloyd's of London through Chubb. The premiums have been ridiculous so I am looking for alternatives. If anyone has any suggestions It would be greatly appreciated. Thanks

Posted on: 3/28 13:44
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Re: Homeowner's Insurance
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I got my homeowners from the Brownstone Agency in Hoboken I was referred to them by our mortgage broker. The insurance itself is through Chubb. They are competent and handled the service quickly and without issue.

That said I recently looked to combine our auto/homeowner's because I understood Chubb had a "premium" on it. When it was all said and done 2 other insurance companies offered premiums that were more then Chubb, and the auto discount was negligible. Our homeowners insurance was about $1200 a year and we too have a flat roof.

Posted on: 2016/2/22 11:07
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Re: Homeowner's Insurance
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I too live in a Circa Abraham Lincoln, flat roof house and received homeowner's insurance through Chubb, who holds all of our other policies. It's pricey, for sure, but when we've had claims with them in the past (frozen water pipes) and everything was handled with remarkable speed. They're known as the *white glove* choice but the premium paid for their services was quickly forgotten when bad things happened.

Posted on: 2016/2/22 10:54
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Re: Homeowner's Insurance
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meltedopsicle wrote:
I guess "historic" is the nicer word for "old"? I went through a Weichert agent and the only option I got for old home with flat roof was Narragansett Bay.


All my buildings have flat roofs. I got my insurance through Farmers of Salem. They stopped writing policies for a while about 10 years ago expecting the NYC area to be destroyed by hurricanes. They started writing again when that didn't happen.

Posted on: 2016/2/19 13:53
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Re: Homeowner's Insurance
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I guess "historic" is the nicer word for "old"? I went through a Weichert agent and the only option I got for old home with flat roof was Narragansett Bay.

Posted on: 2016/2/19 13:47
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Re: Recommend a good home owner insurance company/person?
#16
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If you already own automobile insurance you can ask them if they will give you a discount for your property. most companies do

Posted on: 2016/2/19 11:31
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Re: Recommend a good home owner insurance company/person?
#15
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Mike Blumenfeld at Mile Square Insurance, great guy who I refer my clients to regularly

Posted on: 2016/2/19 11:25
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Re: Recommend a good home owner insurance company/person?
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I have been with Muller insurance for over 15 years now. No complaints. They handle any building insurance that I can't get through NJ Manufacturers Insurance.

Posted on: 2016/2/19 8:27
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Recommend a good home owner insurance company/person?
#13
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Hello,
We are purchasing a small condo in the 07302 zip code, the condo association does have flood insurance and the building does have a sump pump.
Can anyone recommend a good home owner insurance company person/, or who to stay away from? Appreciate any suggestions and advice. Many thanks.

Posted on: 2016/2/19 7:58
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Re: Homeowner's Insurance
#12
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diamat wrote:
Curious to know where anyone with a historic house - especially with a flat roof - gets insurance, and what the going rates are.
Ours is through Chubb, but the policy price has more than doubled over the past 2 years, though we haven't made any claims.
Am ready to switch but options are limited for flat roofs.
Thanks!

I'm in a similar boat. Insurance on a flat roof and an historic home is somewhat crazy. A lot of places won't even offer it. I had to go through The Philadelphia Contributionship. Though, I needed to use an agent to go through them. It's not the most pleasant and I can't say that I enjoy using them, but they have had the least expensive rates thus far so...

Posted on: 2014/9/4 16:06
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Re: Homeowner's Insurance
#11
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Curious to know where anyone with a historic house - especially with a flat roof - gets insurance, and what the going rates are.
Ours is through Chubb, but the policy price has more than doubled over the past 2 years, though we haven't made any claims.
Am ready to switch but options are limited for flat roofs.
Thanks!

Posted on: 2014/9/4 12:52
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Re: Homeowner's Insurance
#10
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Quote:

shuklad wrote:
i prefer NJM -- nonprofit insurance company that pays dividends each year


I would be a policyholder of them if I could. Unfortunately, not just anyone can get a policy from them under their somewhat exclusive criteria for joining, much like Amica, another insurance company I'd rather be using but I'm not eligible for. So NJM may not work for the OP.

Posted on: 2014/8/15 11:08
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Re: Homeowner's Insurance
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i prefer NJM -- nonprofit insurance company that pays dividends each year

Posted on: 2014/8/15 10:32
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Re: Homeowner's Insurance
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heights wrote:
I wish I had a friend in the insurance business then I would not have to give out my name, rank, and serial number just to get a quote. I bet those in the industry could get and give a ball park figure anytime.


They need all that info because they pull your credit reports and claim history. The premium they quote you is based on that - whether or not credit history is a fair measure of risk is altogether another debate, but that's how the industry operates. Even if you had a friend in the biz, they still would need your social security number because no underwriter would even offer a policy without the basics.

Posted on: 2014/8/15 10:14
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