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Hello all,
I am just doing some due diligence here.
Our 113 unit Co-op, built in the 1950’s, just received a quote from the Spain Agency (Mahopac, NY) on a replacement building/liability coverage policy. Our current carriers are Fireman's Fund and Castlepoint. The new proposed carriers are Worchester/Harleysville.
I am curious whether anyone has had any experience with either the Spain Agency or the new proposed carriers of Worchester/Harleysville?
Thanks!
Thank you very much for the reply.
Similar topic: we have about a $14 million replacement value. The Board is discussing earthquake coverage. Our current limit is $1 million which seems too low. We have three buildings with interior steel supports & wood studs but with masonry exteriors (cement block covered with brick). What are other co-ops using as a guide for earthquake coverage: 100% of replacement value; 75%; 50%?
Thanks!
Just saw your post, i also used to be with Hub and i was very happy with them until i met Izzy Green from evergreen insurance, i was really amazed by their service and honesty, and i switched all our policies to them. they have great relationship with the underwriters and they negotiated a great deal.
You might find this artical interesting http://ezinearticles.com/?What-a-Co-Op-or-Condo-Board-Member-Should-Know-About-Insurance&id=6244340
You can also contact me @ 845-789-4433 X 102.
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Our Board recently changed insurance brokers and they got us a better general liability insurance policy with an A+ rated company, (our management company's insurance company was A-), including all the coverage we had and more, and a 37% reduction in premium. Our previous premium was based on group experience; our new premium is individually rated. I recommend you contact HUB International Northeast. They coordinated all of our policies so that now we have one common expiration date, and our premium no longer needs to be financed by a bank (of course that cost more too).
Does Board Talk also allow me to give the individual broker's name & phone number?
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