Insurance Advice and recommendations

Chubb - expensive but the best. Replaced an antique Murano chandelier that fell - no problems. Harder to find a replacement than to get the insurance check.

You might look at "scheduled" coverage for the specific lovely things, especially if you select an insurer whose basic policy is less comprehensive. May be cheaper overall. Also be aware of category limits (e.g. unscheduled jewelry or art may have a maximum per-item or overall that's much less than your total contents coverage limit).

Work through the scenario of extensive damage or total loss of the apartment -- make sure you know (via the coop's proprietary lease) what the building is obligated to rebuild/restore versus what's yours. Coverage for contents is different from coverage for rebuilding. For example, kitchen cabinets and plumbing fixtures are almost certainly yours to rebuild, and definitely painting if not the walls themselves. Your mortgage lender (if there is one) may be interested in this aspect or have a requirement since the empty apartment is their security asset on the loan.

Also think about assessment coverage - if the coop corp suffers a loss (from a covered peril) it may call on you for a big check. Insurance can cover.

Finally, note this is not set in stone when you decide tomorrow -- get it resolved enough to complete your purchase and feel comfortable, but you can keep shopping anytime (current insurer will generally modify or cancel/refund the remainder of your policy term).

Thank you,

I have received a nice response from Gotham Insurance Brokers for Travelers. Any feedback about them?
I have not heard from anyone regarding Chubb yet.

I just dropped Chubb and switched to AIG since they both cover the high end market. Chubb wanted a double digit increase, this is after only 1 year with them.

Stay away from the mass market insurance like State Farm and Allstate

I second Chubb as being really great but also agree that their increases are getting to be too much year on year.

Is there any standard out that's mid range? Or even budget friendly but reliable?

AIG is actually a lot cheaper than Chubb. You should contact an agent to inquire about Chubb, Traverlers, and AIG.

Been using Travelers for 30 years for condos and co-op, luckily never had a claim.

Showiththefro, look into AMICA. I chose them for my Co-op because of their consistent high ratings from Consumer Reports . I've never had a claim, though, so can't vouch for that, but over many years, they've been nicely responsive in helping me choose coverage.

Chubb is great and handled a large-ish claim of mine well, including putting me up at a 5 star hotel nearby for a week during repairs, but I too dropped them due to increases this year and took PURE. Chubb also got bought by ACE this past year, although I'm not sure if means anything practical.

Thanks, Propinquity. I too am looking into first time coverage and happened to get a solicitation from Amica for auto insurance. I just got through speaking with them, and they were very helpful and efficient in reviewing multiple options. Of course, I also hope never to have a claim.

Thanks all! I got my amica quote and it was higher than expected (almost double) although covering the same things....weird no? what makes the difference?

That's odd about Amica charging so much more. Maybe you got a bad rep and should try again. I was stunned to find that my bill for 2016 actually went down by almost $10 a month from what I paid in 2015. And by the way, Amica gave me an "e-discount/autopay discount, " so if you do go with them, ask for it.

Different insurers set their underwriting differently, and often come up with outlier pricing on some risks for non-obvious reasons. I have never had a claim, but used Travelers, Chubb and AIG before switching to PURE recently. Are you eligible for USAA? Many swear by them -- they would not insure my weekend house so not an option for me.