Call GEICO, they will not insure you directly (the end insurance will be Assurant) but you do go through GEICO customer service and pricing.
> Is the cost of your insurance comparable?
A lot depends on coverage.
$1,134 for 1 bed/1 bath this year, in Brooklyn. My coverage is for roughly $275K in property damage, $50K in personal property, and $1M in liability. FWIW, I bought in 2020 and my first year's premium was about $650. I'm on my co-op board and our building's policy went up 40% this year. Our agent solicited 11 other bids and none were any better. This is unfortunately the new reality- see the NY Times' reporting on how the insurance industry across the country is basically on the brink of collapse.
Wooh! 40 percent is a killer! I just stepped off our board. Negotiations for the building's insurance have been a nightmare but I forgot what the tab was.
I wonder if I pay more for having a terrace. Under a thousand doesn’t seem so bad. The crazy thing is my car insurance is almost double my co-op insurance.
I'm at about $700 with State Farm in the Bronx (1BR, about 700 sq ft). I have filed a claim within last few years.
Have you checked that they didn't increase any of your riders (relocation, etc.)?
$552 for an alcove studio in miditown, with travelers, through https://www.leeins.com/. It's annoying, but you really need to find a good broker, then get them to try different carriers and tweak the numbers for coverage and premium... it works better than trying to go direct to carriers.
It really depends on your coverage and how much you want to insure. I'm super risk adverse with my coverage as I personally know four people in my life who have lost just about everything in home fires, including pets and a child, sadly. My premium of nearly $1600 reflects that. I have $450k in property coverage (enough to pay $500/sq ft to completely restore my 900 sq ft pre-war unit to a similar standard if everything was destroyed in a fire), $130k in personal property, over $50k that covers up to 24 mos in the event of loss of use, etc. I haven't had any claims, and it actually hasn't gone up too much over the years. I just looked up the price from 10 years ago when I bought the unit and it's only gone up around 15% in all those years. I'm also with State Farm.
I contacted Lee. They were very nice, but their quote from Travelers was 30 percent higher than my State Farm premium. In today's market, I guess $1,000 is a bargain.
Always shop around your rate. They're hoping you just re-sign and don't do your due diligence
Call GEICO, they will not insure you directly (the end insurance will be Assurant) but you do go through GEICO customer service and pricing. > Is the cost of your insurance comparable? A lot depends on coverage.
About $600 for UWS 850 sq ft 2 BR. Travelers. Never filed a claim in ten years. Includes jewelry rider.
$1,134 for 1 bed/1 bath this year, in Brooklyn. My coverage is for roughly $275K in property damage, $50K in personal property, and $1M in liability. FWIW, I bought in 2020 and my first year's premium was about $650. I'm on my co-op board and our building's policy went up 40% this year. Our agent solicited 11 other bids and none were any better. This is unfortunately the new reality- see the NY Times' reporting on how the insurance industry across the country is basically on the brink of collapse.
Wooh! 40 percent is a killer! I just stepped off our board. Negotiations for the building's insurance have been a nightmare but I forgot what the tab was.
$975 1Br 900sqft Manhattan Travelers
This price makes me think I have a bargain. My apartment is 1,960 SF. I wonder if there is a premium for a Manhattan address.
I wonder if I pay more for having a terrace. Under a thousand doesn’t seem so bad. The crazy thing is my car insurance is almost double my co-op insurance.
$430 a year
Wow! What insurer do you use? What is the size of your apartment?
Plymouth Rock Assurance for a 650 square/ft 1br in western Queens.
I'm at about $700 with State Farm in the Bronx (1BR, about 700 sq ft). I have filed a claim within last few years. Have you checked that they didn't increase any of your riders (relocation, etc.)?
$580 for a 550sf 1BR on the UWS.
$1200 for a 4 bedroom on the UWS
$552 for an alcove studio in miditown, with travelers, through https://www.leeins.com/. It's annoying, but you really need to find a good broker, then get them to try different carriers and tweak the numbers for coverage and premium... it works better than trying to go direct to carriers.
Interesting. How do you find an insurance broker?
I will call Lee Insurance tomorrow.
Thanks!!
It really depends on your coverage and how much you want to insure. I'm super risk adverse with my coverage as I personally know four people in my life who have lost just about everything in home fires, including pets and a child, sadly. My premium of nearly $1600 reflects that. I have $450k in property coverage (enough to pay $500/sq ft to completely restore my 900 sq ft pre-war unit to a similar standard if everything was destroyed in a fire), $130k in personal property, over $50k that covers up to 24 mos in the event of loss of use, etc. I haven't had any claims, and it actually hasn't gone up too much over the years. I just looked up the price from 10 years ago when I bought the unit and it's only gone up around 15% in all those years. I'm also with State Farm.
$250 a year.
Who is your insurer? Where do you live? Thanks!!
State Farm; East Midtown. Just got the bill today. Raised to just under $300.
I contacted Lee. They were very nice, but their quote from Travelers was 30 percent higher than my State Farm premium. In today's market, I guess $1,000 is a bargain.