Home Insurance in 11801>Question Details

Ray, Home Owner in 11801

home insurance brokers in zip code 11801

Asked by Ray, 11801 Tue Oct 4, 2011

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Ray,

You do not need to limit yourself to a broker in a specific ZIP code. Any broker in New York State will suffice. I've linked my webpage for you to get a hold of me should you need a good risk management professional at your side.

Javier,

I'm not sure what your definition of "complicated" is. Can you elaborate on this because from my chair, I've got a lot of happy clients who are PROPERLY insured. As for the example you gave about cancelled policies after inspections were made, sure...a dilapidated home will get denied coverage by a carrier upon inspection. In fact, every property insurance company will perform an inspection of a dwelling when coverage is first placed on it...including State Farm. Would YOU insure a home that has roof shingles peeling off by the dozens? :)

As Johnny has eluded to, direct insurance carriers aren't always the most competitive. The fact is, there are over 700 property insurer's in New York State alone competing for our business. 99% of them operate in the independent broker channel. Prices and underwriting guidelines change with every company ever year. Meaning, someone can get a competitive price with your State Farm buddy one year but in a subsequent renewal, their premium can suddenly spike. Even worse, they can be non-renewed for no reason (State Farm does this all the time on Long Island).

Finally, purchasing insurance purely from a price perspective can get you into a lot of trouble. Each risk type (be it homeowners, auto, commercial liability, etc.) is truly unique and must be carefully underwritten. With that said, a particular insurance company may not be setup to properly cover a specific risk type. That's where the power of a broker comes in: carrier placement for insured's via a balance of:

-Needed coverage's written based on exposure specifics and risk classifications
-An insurer's financial strength
-Servicing
-Price

No captive insurance agent can provide this, as they can only sell one product from the company they are employed by. Agents represent insurer's, brokers represent insured's. There's a big difference between the two.

This is not to say that captive/direct carriers are bad. There are times where I tell my prospects to check them out for comparisons. Sometimes I don't hear back from them...sometimes I do. :) Whatever works best for the insured's is my philosophy.
0 votes Thank Flag Link Tue Nov 29, 2011
@Javier- Brokers that let the policies cancel because they didn't field underwrite it correct aren't doing their work correctly. Sure I can place business with certain carriers, but a good broker will know if a risk is insurable or not. As with direct writers, brokers can submit reconsideration for inspection issues. If an inspection comes up, a good broker always follows up and find a solution and if going to get cancelled, rewrite them into another company they have lined up.

Rewriting to another company is where the direct writers lack in ability. If State Farm declines, for example, then the agent can't go any further, then loses that clients entire insurance portfolio.

It's always good to keep brokers in check, keep them honest and ethical and make sure they are doing good work for reciprocal referrals.
0 votes Thank Flag Link Mon Oct 10, 2011
@Johnny, you could very well be right. What I meant to say is based on my experiences as a mortgage banker and dealings with home-buyers and insurance companies, not only have I found them to be a bit cheaper, but I also see that through brokers, at times, for example, policies get cancelled due to inspections made by the actual insurance companyam but you would def know better than me.
0 votes Thank Flag Link Mon Oct 10, 2011
@Javier-Direct writers aren't always cheaper. Depends on the carriers. I have beaten most direct carrier rates on Residential Homes and Motorcycle products. Sometimes, the direct write (Farmers, State Farm) will beat me, such as Large Commercial Complexes.

Get quotes and coverages from both sources and see which one is best. The best agent isn't always the cheapest, it's the coverage that counts.
0 votes Thank Flag Link Mon Oct 10, 2011
Hi Ray. As a mortgage banker, when my clients ask to refer them an insurance company, I tend to recomend State Farm, Nationwide or other major direct insurance companies as oppose to a insurance broker. Things tend to get complicated with brokers, but when you deal with a company directly, it's ususally easier and cheaper. Here is a link to the nearest State Farm agent, I would also google the nearest Nationwide office to you and get quotes from both companies. Good luck!
0 votes Thank Flag Link Sun Oct 9, 2011
See link, you have many choices; you may also wish to contact the local Chamber of Commerce for recommendations...
http://g.co/maps/z8utc
0 votes Thank Flag Link Tue Oct 4, 2011
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