Multifamily Insurance Questions

[Dom Chit]

Hi, I'm in contract to acquire a 2 property deal: 6 unit apartment and 6 townhome. Looking at insurance for these properties, what is generally considered to be adequate coverage, ie what should be covered and how much would be a reasonable amt. We are looking at either 90% or complete replacement cost as a basis for the quote. Thanks!

[Nick Bendick]

These are all great questions and require a conversation to find out further details before appropriate recommendations can be given. I would ask them to your insurance agent. If you don't have an insurance agent i would google Trusted Choice and search by zip code for a local independent agent. Call a couple until you find one you like then schedule a time to talk about your buildings under contract then you will receive advice tailored towards your situation and needs.