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Recommendation needed for Condo insurance
Posted by: Microman
Date: February 08, 2020 08:12PM
This condo is in Sylmar and AAA won’t insure because it’s in the higher risk fire zone. As a matter of fact the fire recently came thru her community but did get to any of the homes. The HOA pay to have the area around the condos cleared for many feet.

How do I find a good an reasonable insurance company?
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Re: Recommendation needed for Condo insurance
Posted by: WHiiP
Date: February 08, 2020 09:15PM
Look into USAA and see if you qualify. usaa.com



Bill
Flagler Beach, FL 32136

Carpe Vino!

Fermentation may have been a greater discovery than fire.
— David Rains Wallace
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Re: Recommendation needed for Condo insurance
Posted by: Michael
Date: February 08, 2020 09:29PM
You might check with the HOA and see if they have a list of insurers used by owners. Or, check with several neighbors and get a sense of which one(s) is viewed as being worthwhile.
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Re: Recommendation needed for Condo insurance
Posted by: stephen
Date: February 09, 2020 06:43AM
USAA has great condo insurance which I use for my Atlanta place. Had a claim and they were superb.

For what it's worth, Travelers was dramatically less expensive for my Birmingham place.
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Re: Recommendation needed for Condo insurance
Posted by: Ombligo
Date: February 09, 2020 07:37AM
Check with an independent agent, they can look at multiple companies for coverage.



“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld
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Re: Recommendation needed for Condo insurance
Posted by: rgG
Date: February 09, 2020 07:54AM
Quote
Ombligo
Check with an independent agent, they can look at multiple companies for coverage.

This.
We had used Liberty Mutual for years but then asked an independent agent my husband found for quotes and he was able to save us a lot of money. He was also able to find my mom a much better deal, but with a different company.





Roswell, GA (Atlanta suburb)
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Re: Recommendation needed for Condo insurance
Posted by: Microman
Date: February 09, 2020 09:23AM
To sign on too USAA , since I am not a Vet, but my parent in law was, I will have to call them to initiate an estimate.
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Re: Recommendation needed for Condo insurance
Posted by: testcase
Date: February 09, 2020 11:12AM
The house I used to own was on Long Island (Suffolk County, NY). Even though said town never got slammed by any storm, after Hurricane Sandy, my homeowners' insurance went from ~ $3k/year to over $5k/year. The insurance companies have to screw somebody.
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Re: Recommendation needed for Condo insurance
Posted by: Ombligo
Date: February 09, 2020 11:33AM
There are only four insurance companies currently writing policies in Florida (others have coverage but are not writing new policies). Of the four, only State Farm is a name anyone would recognize. The other three are Tower, Universal and Citizen's (which is backed by the state and only takes you if the others say no at any price). So rates are outrageous and no one puts in a claim unless your home is destroyed. There are still people waiting for claims from Hurricane Michael, which was more than a year ago.

The only thing insurance does efficiently is send out the annual bill.



“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld
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Re: Recommendation needed for Condo insurance
Posted by: Mr Downtown
Date: February 09, 2020 12:07PM
I've only ever filed one claim (stolen bicycle) but have always been happy with IDS (previously Amex), particularly the cost.
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Re: Recommendation needed for Condo insurance
Posted by: C(-)ris
Date: February 09, 2020 04:31PM
Quote
Ombligo
There are only four insurance companies currently writing policies in Florida (others have coverage but are not writing new policies). Of the four, only State Farm is a name anyone would recognize. The other three are Tower, Universal and Citizen's (which is backed by the state and only takes you if the others say no at any price). So rates are outrageous and no one puts in a claim unless your home is destroyed. There are still people waiting for claims from Hurricane Michael, which was more than a year ago.

The only thing insurance does efficiently is send out the annual bill.

For all of Florida? So what do people do? You can't get a loan on a house without insurance. Even if you pay cash for your house you are probably going to want some insurance.



C(-)ris
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Re: Recommendation needed for Condo insurance
Posted by: Ombligo
Date: February 10, 2020 04:44PM
Quote
C(-)ris
For all of Florida? So what do people do? You can't get a loan on a house without insurance. Even if you pay cash for your house you are probably going to want some insurance.

Citizens United is required to write the policy if the others turn you down. The premium will be high and the service sucks but it will get written. The state backs Citizens with tax money, so we all get suckered with the worse risks.

State farm is the choosiest, as long as you live in a newly built concrete structure away from the coast and not in a flood zone, you may get them. Tower is next and will write slightly riskier policies. Universal sticks their neck out a bit further.

When my son bought his townhouse, Tower turned him down because they won't write anyone under 25, so he got HO from Universal. I have no illusion of them paying out, but the mortgage required it.

I'm lucky because I'm grandfathered in by Auto-Owners. I still hold my breath every year when renewal times comes up. They canceled their policies in the coastal areas back in 2005 to reduce exposure.



“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld
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Re: Recommendation needed for Condo insurance
Posted by: C(-)ris
Date: February 11, 2020 05:23PM
Sounds like if you are house shopping in Florida finding out if the address is insurable is a big deal.



C(-)ris
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