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Updated over 6 years ago, 07/23/2018

User Stats

59
Posts
6
Votes
Steve Balinski
  • Roselle, IL
6
Votes |
59
Posts

Struggling to get find homeowners insurance for 4 unit....?

Steve Balinski
  • Roselle, IL
Posted

Hello to all, I have a question about home-owners insurance for a 4 unit rental im looking to purchase.

I have called Geico and Travelers so far and told them im looking to purchase a 4 unit rental property and I will transfer the title to my S-Corp when I am done. So far everyone is acting like they don't insure properties owned by businesses. Geico could not find me ANY of their brokers who would work with me.
  Travelers said they could, but they still acted like they have rarely dealt with this. Am I saying something wrong? I should be saying it will be owned by my business or S-Corp right? Is this what most people say when they call to get insurance?
My fear is if I say I am the owner and God forbid something happens to the property, I transfer it to my business entity, and the insurance company says "we didnt insure the property owned by balinski investments, we insured the property owned by steve balinski"
Any suggestions?
Thanks

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