Getting insurance quotes

[Alex Verdugo]

I have started looking for multi family properties to buy and hold.  While there’s a certain amount of information out the that I can get from the internet (tax info, how much to charge for rent, etc.) I haven’t found anything that can ballpark an insurance quote for me.  I’ve gone to individual insurance websites to get specific quotes on properties but there HAS to be an easier way.  Does anyone have an easier way to calculate what the insurance on a 4- plex might be? A 5 - plex?

[Frank Chin]

Both my dad and I owned businesses and rental real estate through the years, and knowing and working with an insurance agent is invaluable. My suggestion is for you to find one in the area where you plan to operate.

Since I'm not from your area, I'm sure others will chime in, or you can check the internet for agent in Tuscon. I know of situations that people buy insurance directly from insurance companies, and due to omission and errors, cost them dearly.

Remember, like a car, insurance can vary by the age of the building, size, whether is frame, or brick etc. So I suggest you try to get a quote on a property that you are ready to bid on it.