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Old 08-17-2021, 05:26 PM
 
Location: Bergen County, New Jersey
12,178 posts, read 8,052,989 times
Reputation: 10168

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Hi everybody.

Condo is contingent n CT and the party is curious about which insurance company to choose. They have USAA for auto and got a 'decent' (Sub $30 a month) quote from them. Do you guys have any insight on who you use and which company is great in CT?

Also... any recommendations for a bank that handles condo loans (very small loan, less than 100k) that could be closed in less than 35 days?

I ask because I worked in insurance through many different companies and it all varied by State.

Appreciate it ahead of time!

Last edited by masssachoicetts; 08-17-2021 at 05:39 PM..
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Old 08-17-2021, 06:28 PM
 
Location: Connecticut
34,966 posts, read 57,037,363 times
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From what I am hearing all banks and mortgage companies are backed up with more applications than they can handle. A family member who is selling a property has twice had the closing delayed because of a delay in the mortgage.

I can’t give you an insurance recommendation because we haven’t priced our insurance around in at least five years. Just being lazy about it. It hasn’t gone up much so we don’t see the need. I’m sure if I did I could find a lower rate. Oh well, another thing to add to my To Do List. Jay
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Old 08-17-2021, 06:41 PM
 
Location: Bergen County, New Jersey
12,178 posts, read 8,052,989 times
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Quote:
Originally Posted by JayCT View Post
From what I am hearing all banks and mortgage companies are backed up with more applications than they can handle. A family member who is selling a property has twice had the closing delayed because of a delay in the mortgage.

I can’t give you an insurance recommendation because we haven’t priced our insurance around in at least five years. Just being lazy about it. It hasn’t gone up much so we don’t see the need. I’m sure if I did I could find a lower rate. Oh well, another thing to add to my To Do List. Jay
hopefully BOA is good. lol.
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Old 08-18-2021, 06:24 AM
 
Location: Connecticut
540 posts, read 332,951 times
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Honestly, probably just find a small insurance company that shops your insurance needs around. I tried doing it myself and got a few quotes that weren't all to different from one another, but I then went to a local insurance company who found a policy with a major carrier that was 40% cheaper than all the quotes I had found and it had more coverage with an umbrella policy.
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Old 08-18-2021, 08:33 AM
 
1,930 posts, read 2,043,947 times
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I think we had Homesite insurance on our last condo?… the company that Geico works with to bundle auto and homeowners. It was very inexpensive.


30 day close is going to be tough. Try one of the super local banks or an online only option like quicken or loan depot - I am not sure the big banks can get it done right now.
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Old 08-19-2021, 09:18 PM
 
Location: Waterbury CT
84 posts, read 62,315 times
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Quote:
Originally Posted by hvexpatinct View Post
... to bundle auto and homeowners.
That's what I did here on the condo I recently purchased. I have Geico for auto; Travelers has the homeowners ins. policy, which is 269/per year.
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Old 08-20-2021, 07:36 AM
 
Location: Fairfield County CT
4,468 posts, read 3,363,650 times
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Quote:
Originally Posted by hvexpatinct View Post
I think we had Homesite insurance on our last condo?… the company that Geico works with to bundle auto and homeowners. It was very inexpensive.


.


That is Travelers. I like them and they are reasonably priced. I have never put a claim in so I don't know how they would be with claims though.
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Old 08-20-2021, 04:48 PM
 
Location: Bergen County, New Jersey
12,178 posts, read 8,052,989 times
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Quote:
Originally Posted by HendrixStyle View Post
That's what I did here on the condo I recently purchased. I have Geico for auto; Travelers has the homeowners ins. policy, which is 269/per year.
269 for an HO6?
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Old 08-20-2021, 07:49 PM
 
Location: Waterbury CT
84 posts, read 62,315 times
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Quote:
Originally Posted by masssachoicetts View Post
269 for an HO6?

Yes, it's an H06 policy.
Attached Thumbnails
Who do you use for Property Insurance?-tr.jpg  

Last edited by HendrixStyle; 08-20-2021 at 08:33 PM..
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Old 08-20-2021, 09:37 PM
 
Location: Connecticut
34,966 posts, read 57,037,363 times
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Quote:
Originally Posted by HendrixStyle View Post
Yes, it's an H06 policy.
That Dwelling amount ($40,000) isn’t much. Are you sure it’s enough for your home? In fact you might want to consider upping all your coverage amounts. They look very low. Jay
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