Need Mutil Family Insurance Carrier
Anyone out there have a good recommendation or two for companies that issue property insurance on non-owner occupied multi-family properties? Thanks
Molotov 
Anyone out there have a good recommendation or two for companies that issue property insurance on non-owner occupied multi-family properties? Thanks
Molotov
Find an Agent (preferably with a local REI group) that understands REI. They can and will find the carrier(s) in your market that fit your needs. States drive Property/casualty insurance, so unless the responses you get here are from fellow investors in your area, they could send you chasing a wild goose. In other words, a company that insures multi unit properties (properly and with expertise) in Ohio, for example, may have nothing to do with them in California...
Hope this helps...
Tim
Lloyds of London offer to write my. Found that thru a commercial insurance broker.
Just got a pretty good deal on a couple of small apt. buildings through State Farm (yeah, surprised me too). Agent is established, knowledgable. Foremost would do it too, but quoted twice as much. Lots of companies are shying away from apts. lately, esp. ones that are in less than perfect condition.
I concur with loon. If it is four families or under, State Farm has good deals. I just got a $1m liability policy with loss of rents, vandalism etc for under $800. I also got an umbrella policy for an additional $1m for $150 per year. The nice thing about this is that it also lifts liability on all of my cars, my lake house and my own home. I was told that I could run up to 4 homes through this umbrella policy without having to go to an expensive commercial policy.
Just had a catastrophic fire and Lloyds of London was the insurer. I had to wait over 3 months for payment and I am still waiting for loss of rents payment. The reason from the Lloyds adjuster is that it takes time dealing with London. Would advise looking into anyone else but lloyds if you have a choice. I also have Ohio Casualty and they paid on a fire claim within 2 weeks (only minor fire damage on a different property.