Hey @Jay Helms,
Sorry to hear that it was such a frustrating experience. While I am biased (as an insurance agent) here is what I advise my clients to do. I would hook up with an independent agent in your local area who has expertise in the Real Estate Industry. You want to establish trust with the best agent you can find because they will know the best insurance markets for the property and will pit multiple insurance companies against each other to secure the best quotes. They will also have relationships with the underwriters and may be able to get better pricing and coverage than another agent for various reasons we can talk about privately. (If you want to keep him honest, ask him to show you the quotes that he secures for you)
A good timeline would be as follows.
1) When you identify a property you would like to acquire - call "your broker" and give him the specs on the property.
2) When you identify the lender you will be working with have them send you or your agent a copy of the insurance requirements to determine if there is any specific language that needs to be met.
3) Identify your closing date and let your broker know he needs to have the quotes ready 2 weeks in advance - If he has been doing this awhile he should be able to provide very accurate indications or estimates before hand.
4)Review quotes- pick the carrier- Make sure all the applications and "subjectivities" are met a week in advance ( your broker should be able to help you with this)
5) Bind insurance a few days in advance if they need a declaration page or bind coverage and have your agent send a certificate of insurance to the lender prior to closing.
Let me know if you have any questions- happy to help!
Mike
