 Multifamily insurance (by Phil [OR]) Jun 11, 2025 11:39 AM
 Multifamily insurance (by jason [PA]) Jun 11, 2025 3:22 PM
Multifamily insurance (by Robert J [CA]) Jun 11, 2025 3:26 PM
Multifamily insurance (by Ray-N-Pa [PA]) Jun 12, 2025 7:03 AM
Multifamily insurance (by zero [IN]) Jun 12, 2025 9:18 AM
Multifamily insurance (by GKARL [PA]) Jun 12, 2025 1:03 PM
Multifamily insurance (by zero [IN]) Jun 12, 2025 1:42 PM
Multifamily insurance (by Ray-N-Pa [PA]) Jun 12, 2025 2:23 PM
Multifamily insurance (by Phil [OR]) Jun 12, 2025 6:06 PM
Click here to reply to this discussion.
 Click Here to send this discussion to a friend
Multifamily insurance (by Phil [OR]) Posted on: Jun 11, 2025 11:39 AM
Message:
I have a 4 plex that my standard insurer will not cover. The company that I have has been getting difficult.
Who do you use for multifamily? --76.138.xxx.xxx |
Multifamily insurance (by jason [PA]) Posted on: Jun 11, 2025 3:22 PM
Message:
NREIG dot com --73.52.xx.xxx |
Multifamily insurance (by Robert J [CA]) Posted on: Jun 11, 2025 3:26 PM
Message:
Under Insurance Law, at list in California and at least 7 other States, a Home, duplex, triplex and 4 unit qualify for standard insurance. Only when a property reaches 5 units or more do you have to have "Commercial" coverage.
When I'm in a dilemma with insurance Carriers, I contact a TOP BROKER that has over 100 Carriers he can write policies.
When I went to Farmers, State Farm and Travles directly, my Insurance agent who had 100 carriers he can write policies from, get BETTER QUOTES FROM Farmers, State Farm, Travelers and others. --47.155.xx.xxx |
Multifamily insurance (by Ray-N-Pa [PA]) Posted on: Jun 12, 2025 7:03 AM
Message:
I know in my state companies like Farmers have been selective on what niche they are insuring. They for example will not mixed use properties of any type. I even have one with a state Rep in and they are saying, please find someone else. For me, turning over this issue to an insurance broker/independent agent helped out.
That place is now insured by a second tier company instead of a state farm, Erie Insurance or Geico --98.17.xx.x |
Multifamily insurance (by zero [IN]) Posted on: Jun 12, 2025 9:18 AM
Message:
Ray, have you had any claims with the second tier insurance?
I always worry that even tho I am saving on my monthly bill if I had a catastrophic event I would be left standing empty handed. --107.147.xx.xx |
Multifamily insurance (by GKARL [PA]) Posted on: Jun 12, 2025 1:03 PM
Message:
I know someone who had a 10K claim and the insurance company refused to renew. I sweat bullets every year over my rooming house insurance renewal. I've had no claims, but this property has a higher risk profile in the eyes of insurers. There are a limited number of insurers who will insure rooming houses.
Insurance is becoming a variable that is unknown and uncertain.
--23.28.xx.xx |
Multifamily insurance (by zero [IN]) Posted on: Jun 12, 2025 1:42 PM
Message:
It is a shame that the rooming houses are a higher risk to them as you seem to do as well if not better than most of us in SFHs.
Definitely an unknown variable. --107.147.xx.xx |
Multifamily insurance (by Ray-N-Pa [PA]) Posted on: Jun 12, 2025 2:23 PM
Message:
Auto Owners did a 1.27M claim and still renewed the policy. were they happy - nope, but I also had an attorney in my corner too. --98.17.xx.xxx |
Multifamily insurance (by Phil [OR]) Posted on: Jun 12, 2025 6:06 PM
Message:
Thank you all for the input. I used an independent broker for a number of years. Had an excellent agent. When he left, the service became terrible....calls and emails unanswered, misinformation etc. changed all my insurance to another firm except for the 4 plex . Now shopping for insurance for everything as the new agent has deteriorating service to the point of frustration. --174.204.xxx.xxx |
Click Here to send this discussion to a friend
Report discussion to Webmaster
Reply:
|
|