Homeowners Insurance - help!

We spent the afternoon calling insurance companies and it's getting so frustrating!

We got a great quote from State Farm a month ago for the home we're buying, but they won't honor it now (5 weeks later) and said they're not taking new policies on Long Island for 6 months. Should I call other State Farm offices, or does this mean that no State Farm office will insure us?

Travelers won't take us on with an underground oil tank.

We called a broker and he got us two quotes - one for $1500 a year, one for $2400 a year. According to him, the $1500 one is "so cheap" because it includes a 5% hurricane deductible. I don't understand what that means. What is a 5% hurricane deductible? And why would I want to pay $2400 not to have it?

Do I have to settle for $1500 because of the underground oil tank? State Farm was over $500 cheaper than that, because they never asked about the tank. Everyone else asks.

Re: Homeowners Insurance - help!

Having gone through this ordeal in May, i strongly suggest you just go with a broker. I called every company i could think of and no one would insure us because we are close to the water (but NOT in a flood zone!) Getting a policy on Long Island is getting really difficult.

We have a high wind deductible. It means that if there is damage caused by wind, we will have to pay 5% of what it will cost to repair the damage (so this overrides the regular deductible). I'm guessing its the same for a hurricane deductible. Maybe they imagine that damage due to wind or a hurricane will be more extensive so they want to ensure that they get more money from you towards the repair. not sure. HTH!

Re: Homeowners Insurance - help!

Try TSC Incurance...

We went through an Allstate broker and currently have our policy with a different company.