Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Insurance
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago, 01/01/2016

User Stats

501
Posts
503
Votes
Paul B.
  • Rental Property Investor
  • Dallas, TX
503
Votes |
501
Posts

Insurance for my rental condo in Boston, MA

Paul B.
  • Rental Property Investor
  • Dallas, TX
Posted

I own a 1 BR condo in Boston. The condo association has a master policy for the building. My tenant (hopefully) has renters insurance for his personal property. I have renters insurance because I rent my primary residence in Texas. 

A few years ago, I had a water leak in my unit, and I was responsible for replacing my neighbor's ceiling below me. That's when I realized I had an insurance gap, not only for that situation but for any damage within my own unit, such as a fire. So I called my car insurer (GEICO) and explained the situation. I ended up with a policy through Stillwater that is about $400/year. 

I have no idea whether that is a good rate, and if I am even properly covered. Should I be looking for an investor-friendly insurance broker, who understands the local market (my car and apartment are insured in Texas, while my investment is in Massachusetts)? Or is this a fairly common scenario? I don't want gaps or overlaps in my coverage. 

Can anyone recommend someone in the Boston area who insures rental property?

Loading replies...