Getting condo insurance

Started by redpanda

over 12 years ago

Posts: 28

Member since: Feb 2011

Discussion about

Fortunately, this is just a hypothetical I'm thinking through - let's say we have water damage in our apt because either 1) our neighbor forgot to turn on the heat and the pipes froze over or 2) there's a structural issue in the building that is causing leakage into our unit. Would my neighbor's insurance (in #1) / building (in #2) cover damage to our unit & personal property at replacement value? And if it doesn't, could our condo insurance be tapped to make up the difference? We're shopping condo insurance (walls-in H06 coverage) for our next place and wondering how much use it'll be.

Response by streetsmart

over 12 years ago

Posts: 883

Member since: Apr 2009

Call Kevin Schaefer from Allstate at 212-267-7601.

I got my HO6 coverage from him over ten years ago. I'm very satisfied. They were of great help to me with my 9/11 issues.

Ellen Silverman

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Response by Flutistic

over 12 years ago

Posts: 516

Member since: Apr 2007

I went through Sandy and got an insurance education along the way. My philosophy is: use Geico because everybody I know who had them loved them; and pay the minimum you must pay because getting paid for a loss is like pulling teeth.

We had blue chip insurance and the company pulled every trick in the book. We prevailed but I learned my lesson.

The answer to your questions is yes to your unit structurally, if your neighbor has insurance and hasn't let their policy lapse. Is someone watching for that in your bldg.? If they're uninsured you can always sue them. Fun.

Personal property is your problem.

You don't know your insurance until you have a major loss. Then you find out what you've got. Allstate was good to us in an $80,000 loss a few years ago, I have no qualms with them either, but we 100% Geico now.

Getting condo insurance

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