Townhuose Insurance
by dje7
on August 25th, 2009
Suds,
Allstate has the best deals on an HO-6 policy in the State - from what my experience has been, though I'm not sure about State Farm. At least for the Weekley Row Homes an HO-6 policy is what was needed.
For $200k building and 75k property we recently got the following quotes:
Amica - $1500
Travelers - $950
Hartford - $950
Allstate - $400
The supplemental covenants (and Jennifer Harvey) were really not much help.
I tried and tried to get a copy of the master insurance policy and even called the agent that is responsible for the master policy who was of some help. Basically, after hours of research what I found is that the master policy covers the roof and roof structure, foundation, and load bearing walls (including exterior walls).
You need to cover all electrical, HVAC and plumbing, sheetrock, paint, flooring, tile, appliances, fixtures, etc., etc., etc. It's somewhat of an unknown if you are also responsible for the structure of interior non-load bearing walls.
I initially went with an estimate of about 60% of the purchase price in terms of figuring the amount of coverage for the building that we needed. The Title Company came back and essentially said you need coverage for 80% of the purchase price in terms of the building coverage.
If you PM me I can give you more details and tell you who our agent is.
Sincerely,
Daniel Estabrook