As we discussed last year, we moved our community's insurance over to Chubb, they are a highly rated carried with an excellent financial background. We saved a few thousand dollars doing this. In the aftermath of Sandy, we were pretty sure our insurance would be going up in price. We received the news this week with our renewal. The policy we paid $38,000 for in 2012 is $48,000 for 2013. The coverage is the same, but on a per unit basis our insurance is rising from $456 to $565.
We shopped the policy and even with increase Chubb was the best price, in addition there were a number of carriers that wouldn’t even offer coverage.
We have shared quite a bit of money saving stories and good news over the last couple of years on the blog, this one is not the case. We are still in good shape budget wise for 2013 and will continue to keep you informed as the year goes by. The bottom line is we have insurance, it’s with a good company, it is more money than in 2012 and we will keep looking for a better deal in the future.
As always if you have any comments or questions please contact us.
