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-Have you tried working with a broker? You mentioned "agent" which is why I'm asking
-When your HO (homeowners) was written, did you package it with you auto insurance?
There are tons of property insurance carriers that write in New York. Utica, Narragansett Bay, Harleysville, Chartis, Ocean Harbor, Mercury, Travelers, Kingstone...the list goes on. This list narrows down however when you do not include packaging in your auto coverage.
Right now, it is VERY hard to get HO insurance by itself in Suffolk county. Sure you can get it, but it will not be competitively priced. Thus, be sure when you shop around to package in your auto.
The best thing you can do is contact an insurance broker professional on Long Island to shop your coverage for you. Brokers have access to multiple insurance carriers (both admitted and non-admitted) in New York. They will be able to find the best policy solution for your risk type.
It was a broker -- sorry I used the wrong term.
Of the carriers which write in NY and were willing to write a policy for me (it's been over a year now) Narragansett was the least expensive. One company, name I can't recall, quoted $12,000! All because of the two water incidents mentioned in the earlier post. I did offer up my auto insurance at the same time.
General question: What is the difference with admitted vs. non-admitted? And what are the drawbacks or benefits to either one if a homeowner has a claim?
Admitted carriers are covered by the state guarantee fund, non-admitted are not which means the policyholder may have some addtional risk if the insurer becomes insolvent when a claim is pending.
Admitted carriers are covered by the state guarantee fund, non-admitted are not which means the policyholder may have some addtional risk if the insurer becomes insolvent when a claim is pending.
You also pay taxes and fees with a non-admitted carrier. However, in some cases there are no alternatives over the non-admitted carriers.
NBIC still has no AM Best rating... I don't believe they have re-insurance either... if you have a company that is not willing to have AM Best look at their financials and doesn't believe in re-insurance... I have a feeling you will be disappointed when a big wind event comes. Irene... tropical storm, Sandy... Super storm... neither had hurricane force winds.
My freind switch to GEICO( CAR) and used Narragansett Bay Insurance Company ( HOME )for one year only because they raised him alot for the second year for no reason ( lives in syosset) and he never made a claim in his 20 years in the same house . it seemed they sucker you in with a good price for the first year and raise the second year hoping you won't switch ... I think he switch to liberty mutual for both home and car and is very happy with there prices , he has been two years with them ....good luck
My freind switch to GEICO( CAR) and used Narragansett Bay Insurance Company ( HOME )for one year only because they raised him alot for the second year for no reason ( lives in syosset) and he never made a claim in his 20 years in the same house . it seemed they sucker you in with a good price for the first year and raise the second year hoping you won't switch ... I think he switch to liberty mutual for both home and car and is very happy with there prices , he has been two years with them ....good luck
Really ? I am in my first year with them in a new house. I had a claim after the hurricane for the roof and some tree. Think I'm in some trouble now ?
They also insure high risk properties which have been cancelled by other insurers.
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Narragansett Bay Insurance Company
