insurancequestion
Expert
- 78
What carriers offer insurance for 5 plex's in the state of Texas? I have been having the hardest time find a carrier. American Modern, Foremost don't do 5 plex's
5 Plex
- Thread starter insurancequestion
- Start date
- 2,204
My understanding is that Personal Lines insurers typically go up to 4 unit dwellings. After this, such as with a 5 unit dwelling it goes into the commercial world.
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myfakename
Super Genius
- 163
5plex is called an apartment building.
In my case it's 2 triplexes with separate addresses that share an overhead decorative beam that connect the two. Even calling it a triplex is generous. It's one apt up, one down and a studio in the basement. All have their own outside entrances. There are definitely some odd animals out there. But underwriters everywhere say the decorative beam connecting the two separate buildings make it a single 6 plex or apartment building. I think an apartment building needs some shared amenities or entrance at least or even all the units to be connected to each other.
- 5,290
That's because you are trying to shove a square peg in a round hole.
As many others have pointed out, this is a commercial property, an apartment building, and it looks like you are trying to place it with personal lines carriers. When I used to write personal lines, there was only 1 personal lines carrier that would consider a 5 unit apartment building. I write stuff like that all the time with commercial carriers.
You really sound like you'd benefit from working under someone for a while.
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- 2,625
The solution is to take a chain saw to both ends of the decorative beam. Then you have a pair of 3 family dwellings at separate addresses and you can write separate policies on them.
- 2,204
In downtown Minneapolis you can't do anything without someone screaming gentrification. He will probably leave it be. There is a big push to tear down these smaller buildings and build big buildings. There is a moratorium on single family housing so they can sandwich more people in.
Maybe so...But everything I've learned about this business; I've learned from the interwebs. And this forum. Now I know to quote multi-family over 4 units with Travelers before going the E&S route! Thanks Forums!
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