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Updated over 5 years ago on . Most recent reply

User Stats

123
Posts
38
Votes
Francis Rusnak
  • Flipper/Rehabber
  • Chicago, IL
38
Votes |
123
Posts

Insurance brokers taking extra?

Francis Rusnak
  • Flipper/Rehabber
  • Chicago, IL
Posted

Have a homeowner insurance broker who is quoting us for our flips and rentals and he's giving good rates; better than what we have currently.

My fear is he is able to maneuver the rates so they look like a good discount now then when we get new properties the savings will quickly dwindle. 

Can brokers adjust the rates and pay themselves extra with lost savings? Ex. If they get a quote of $500 from Company A can they charge us/the consumer $600 and pocket the annual $100 difference? Or, is their cut only given directly with the original company?

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