Updated almost 9 years ago on . Most recent reply
Calculating Insurance Cost
Whats the best way to calculate approx. cost of insurance for larger multifamily property when running numbers on a deal?
Most Popular Reply
@Matthew Wright - Don't try and guess. Ask what the current owner is paying, then call your insurance agent or insurance agents in the area. Get 3 quotes. Insurance rates are based on years of data and risk analysis for that specific property in that specific area and trying to estimate it is asking for trouble. Could be in a flood zone, a 100 year flood zone, high crime, freakishly prone to hurricanes, hail storms etc. People and software companies get paid lots of money to calculate these risks as accurately as possible.