Help With Home Owners Insurance
Currently closing on a house and looking for home owners insurance for a 2 family house. Any suggestions on where to get the best rates ?
The home I invested in is an older home but with renovations done to it a couple of years ago.
Year Built: 1876
Sq Footage: 2,091
The cheapest option isn’t always the best. It’s crucial to balance cost with the quality of coverage and service. Consulting with an independent insurance agent can also provide personalized recommendations based on your situation.
Homes built in 1878 involve some unique considerations due to the age and historical value of the property. Is the roof updated, and are there modern electric wiring and new water pipes? Without these updates, it is tough to find insurance.
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Real Estate Agent South Carolina (#305372) and North Carolina (#305372)
- Kai Kopsch Realty One Group Select
Wilson - I agree with Kai on using a broker for this specific situation. I've recently got a quote from Steadily and have been happy with their estimate and services thus far. I would suggest reaching out for a quote!
I'd say everyone above is right on the money!
I ran into an issue with insurance on one of my properties.
House built in 1880, 5 units with another in a semi-detached house that has its own address.
Insurance before purchase was a bear but I finally got Auto-owners to cover it.
A year later they reviewed it and oops your electrical is not up to code and now I have to spend another $30k to fix it or they drop me.
If it was only 4 units then it was likely that Foremost would have covered it with a rider. (Foremost will only cover up to 4 units and this is 6.)
I've learned my lesson DO NOT buy properties that still use screw in fuses unless the deal is good enough to cover the cost to replace!