Apartment building insura
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Apartment building insura (by george [IL]) Jan 27, 2022 8:57 AM
       Apartment building insura (by Tony [NJ]) Jan 27, 2022 9:41 AM
       Apartment building insura (by T [IN]) Jan 27, 2022 12:00 PM
       Apartment building insura (by Robert,OntarioCanada [ON]) Jan 27, 2022 12:03 PM
       Apartment building insura (by Robert J [CA]) Jan 27, 2022 12:25 PM


Apartment building insura (by george [IL]) Posted on: Jan 27, 2022 8:57 AM
Message:

I have a couple apartment buildings (six units each) and my insurance premium jumped 10percent each year the past couple years. I would like to shop around....

Which company you use for insurance? Not all companies cover apartment buildings --96.74.xxx.xxx




Apartment building insura (by Tony [NJ]) Posted on: Jan 27, 2022 9:41 AM
Message:

Last year I went shopping - finally. My largest multi was with Farmers of Flemington (not the Farmers heavily advertised on TV). With no exaggeration I saved about 40% by switching to State Farm. I feel foolish for not checking sooner. You should definitely shop ..... --73.215.xxx.xx




Apartment building insura (by T [IN]) Posted on: Jan 27, 2022 12:00 PM
Message:

I'm with Cincinnati insurance. Nice part is: locked in for 3 yrs. --76.77.xxx.xxx




Apartment building insura (by Robert,OntarioCanada [ON]) Posted on: Jan 27, 2022 12:03 PM
Message:

Apartment buildings with block concrete construction where if there is fire one rental unit is lost instead of entire building. If buildings have a central fire alarm system along with controlled entrance then some companies will give lower insurance rates. Next factor is area where if a low crime area then the insurance is lower. Some buildings with concrete block construction will have a conventional shingle wooden structure roof where insurance will be higher. One of the most important issues when shopping around for insurance is to compare coverage. Sewer back up is essential and flood if in flood plan area along with the amount of coverage in the worst case. If shingles are replaced with a metal roof then that is more favorable for insurance as in the case of severe weather a metal roof will less likely to be damaged. In the past went shopping for a lower insurance but found there was less coverage so in the end when compared there was not a significant difference. Remember with inflation the cost of building materials and labour has gone up where building and repairing will cost more. --68.69.xxx.xxx




Apartment building insura (by Robert J [CA]) Posted on: Jan 27, 2022 12:25 PM
Message:

My advice is don't carry all of your rental insurance with one carrier. If you have a claim, they may cancel you or raise your premiums on all polices they carry.

I had a policy with once carrier for a 8 unit, two 4 units, a 5 unit and some other rentals. When one property was labeled as being in a high crime area, they raised all of my policies across the board. Thus punishing me.

Since I get competitive quotes every 2 years on every property, I JUMPED SHIP and went with other carriers. Safeco, Travelers and some small independent carriers like Crusader's. --47.155.xx.xxx





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