Investment Property Insurance

im in the process of purchaing a 2 unit building in chicago, fisrt of all does anyone know of any good insurance companies? it will be a non/owner occupied investment ...... how much liability should i get? i heard 1mil is the minimum. and standard replacement coverage as well as rent loss are essential. am i missing something?

thanks for all advice

designman20

Comments(6)

  • pghinvestor11th April, 2005

    Just want to say thanks so much for posting that Article link as that does direct to a working URL to access the article.

  • InActive_Account11th April, 2005

    1 million is what I have on all my props. Statefarm charges about $10-$15 a year for the added coverage. A pretty good deal and a good piece of mind to have.

  • InActive_Account14th April, 2005

    good advice

  • norrist14th April, 2005

    Find an Agent that understands REI. Best to find one who actually invests...the carriers are so varied area to area, let alone, state to state...

  • ray_higdon12th April, 2005

    Anything above 4 units is considered commercial and it will be harder to find greater than 80%ltv loans. There are programs out there that will allow a 10% owner carry though. I am certainly not the commercial loan expert, maybe CK will chime in here?
    [addsig]

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