Difficult time finding insurance for a 3-family

[John Micco]

I am having a hard time finding insurance underwriting for the three-family that I am purchasing:

https://www.redfin.com/PA/Pittsburgh/7209-Penn-Ave-15208/hom...

The only policy I could get a binder on was from Tapco in North Carolina with a $10K deductible for $5500.  

How do I find out why I am having difficulty getting insured?  The property is 100 years old but has updated wiring, plumbing, and units.  

Does anyone have any leads on agents or other companies I could try?  I tried with my agent, Allstate, Odie and Honeycomb.  My agent found only Tapco would underwrite the policy.

Thanks in advance!

John

[John Micco]

Hi Owen, 

We did a home inspection and the roof will need to be replaced soon. It was repaired last year but needs replaced within 3-5 years. I am counting that as part of the ROI. The particulars are:

Total SF: 5160

Roof: Shingles, replaced 2001

Plumbing: Mix of PVC and Copper, updated in 2014-2023

Heating/ cooling: forced air, 3 furnaces replaced in 2014-16, one AC replaced in 2014

Electrical: has been updated periodically from 2014-2023. All knob and tube has been removed from property. 

Detached Garage: 1800 SF, brick. Roofs replaced 2016