How to Insure 9 Residential Rentals?

insurance1822

Guru
1000 Post Club
1,581
Hello All,

I have a client with 9 residential rentals (all 4 units or less.) How would you guys insure these? I am slowly moving into commercial & figured I could get good advice on this forum. Should /must this be blanket coverage, etc. thanks
 
^^^^^^^^^ Smart man, listen to him,

Get your underwriters to help you in this.
 
Habitation can be tricky.

You will need to know how to find the building limits. The way you do this is to find out what type of constructions the buildings are (frame, JM, fire resistive etc.) then you will need to multiply the square-footage by the dollar amount it cost to replace.

Frame- $75-$100 per square foot
Joist & Masonry- $100-$150 per square foot
FR- $150 and up per square foot

Example: a 5000sqf J&M building should have a building limit of around 600K.

Hope this helps the quoting process.
 
Habitation can be tricky.

You will need to know how to find the building limits. The way you do this is to find out what type of constructions the buildings are (frame, JM, fire resistive etc.) then you will need to multiply the square-footage by the dollar amount it cost to replace.

Frame- $75-$100 per square foot
Joist & Masonry- $100-$150 per square foot
FR- $150 and up per square foot

Example: a 5000sqf J&M building should have a building limit of around 600K.

Hope this helps the quoting process.


THX for the wrong info, in MY state, you are WAY under-insured.....and the OP didnt ask this question......:goofy::swoon:
 
I write alot through Allied insurance (4 units or less) not considered a commercial risk.

They are a great company to go with for the real estate investor client types.

Here in CA they do not cap how many properties an individual can insure with them. Some companies place a cap at 9 properties.
 
Back
Top