Michigan Investment Property Insurance

[Shawn Daniel]

Hello Bigger Pockets,

I am in the process of buying my first investment property (located in Grand Rapids) and we are just awaiting the appraisal at this point. My lender informed me that I should begin inquiring about home insurance that I should have an agent/company ready within the next week.

My question is: What are some key things I should look for in an insurance company for rental properties? If anyone is located in Michigan and knows of any specific laws, or anything else pertaining to the area, that would be good insight as well.

Thanks!

[Jon W.]

Shawn,

If your are buying under you name vs an LLC you can use most insurers that would cover you for home and auto. Get a landlord policy and maybe an umbrella for additional coverage. If you are buying under an LLC it is not as easy but there are options. PM me for contacts.

Jon