Anyone need help with the Insurance?

Question

Hi Everyone !  I am a fellow investor, and BP member.

As a 9-5 I work for Insurance Sales, so if anyone in CA ( California ) needs help with their insurance, I would be happy to lend a helping hand. Message me with the properties you own or are interested in, and I will give you a quote ASAP. No soliciting, just offering help for those who need an insurance agent to work with.

Jason Bott · Answer

@Mansoor Fazel Sorry, meant to say year built of 1985

Jason Bott · Answer

@Mansoor Fazel

Always good to see other brokers from around the country on BP.  I have client sin CA and was curous as to who is the most competitive in the SFR space in 2015.  Most of what my investors have are 2985 or newer, $250k-$400k insured value.  As you know, the insurance market is cyclical and different from region to region.

Look forward to your comments.

Bradley Heath · Answer

Thanks a lot for the help!

Mansoor Fazel · Answer

Bradley Heath

Thanks, happy to help. Yes, a property that is half owner occupied is less expensive than a full on rental.

The difference comes in the rating, the duplex scenario you used, is quoted as a 2 unit Homeowners Policy ( less expensive ) vs. if both are rented out they are now Rental Dwellings which require a strictly Landlord policy.

Landlord policies are generally more expensive because the insurance company has no control over the tenants and their potentially hazardous behavior, so that gets factored into the rate.

If you can live in a unit, especially for those starting out, its a great way to save on the insurance.

Bradley Heath · Answer

Hello.  I do not live in Cali, but did have a general question about insurance.  For a duplex investment property, would there be any difference in insurance prices/requirments if I were to live in one side as opposed to renting out both units?