Insurance company ideas?

[Tom Rowe]

Bought a 5 plex in 2022 insurance was $1500/year (which was low).  Guard is not renewing the policy.  My best quote is at 17,000/year! Property is worth around 1.2 to rebuild.  Location is Fairplay Colorado.  LTR tentants, new everything as all units were rehabed.  However building built in 1922.....

I have tried THREE (17,000), steadily can't find a carrier, Statefarm, Farmers, Amfam.  

Who would you recommend for small multifamily? Thanks for the Help

Tom

[Kristine Hodges]

I’m a Colorado commercial insurance broker and have a lot of carriers available in my agency.  You’ll need to use a broker who can get to the specialty insurance companies.  The traditional carriers you mentioned are not good options in this space.  Prices are high and coverage can be hard to fine, especially in the mountain counties and for habitational buildings.  I’d be happy to talk in more detail and see if I can find you a better option.