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Updated about 7 years ago on . Most recent reply

User Stats

27
Posts
10
Votes
Edward Howell, V
  • Manassas, VA
10
Votes |
27
Posts

Landlord Insurance recommendations for Union Square rowhome

Edward Howell, V
  • Manassas, VA
Posted

My Auto/Homeowners on my PR are through Geico, so, naturally I turned to them. I close on my 1st investment property (hopefully) 1/5/17. My lender asked me to get a quote so she can work on my HUD. I was honest with Geico and told them the roof needed to be resealed. They are saying they can't even give me a quote until I get the roof sealed. Obviously, I cant do that until I close on the property and can't close without insurance. I'm still shopping around, but Liberty mutual is quoting me $2300+ for the year with %1500 deductibles. The purchase price of the property is 41K. To me that seems really high. I pay $525 on my PR PP 260K Manassas Park, VA. Is doing business in the city of Baltimore/Landlord insurance really that much more expensive? Is it because my house is located in the crust of Union Square? Can anyone recommend a local company or someone who specializes in the type of insurance I need? this is my first one and I'm still learning. It's literally taken me this long to figure out how to post in the Baltimore Forum.

Most Popular Reply

User Stats

289
Posts
253
Votes
David Fernandez
  • Real Estate Agent
  • Vienna, VA
253
Votes |
289
Posts
David Fernandez
  • Real Estate Agent
  • Vienna, VA
Replied

@Edward Howell, V, you can try with Luray Insurance. They sponsor a big local REIA group and work with lots of investors. I've used to purchase a fire dwelling insurance for one of my rental properties in Baltimore City and both service and price were great.

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