Homeowners insurance for 2 buildings on 1 parcel. Two policies?

[Joseph Weiss]

Do I need two separate insurance policies?

I have a 3 unit multi-family rental in Michigan. 2 units are in a duplex, and the other unit is separate (it looks like

a single family home next door, but is actually on the same parcel of land). I bought the property for $110,000

and am trying to get my insurance straightened out. The duplex has a separate mailing address than the other

unit, but they are both on 1 parcel of land, under 1 mortgage, and the two buildings are not

taxed separately. The insurance company seemed a little confused on the situation, and ended up

saying I need two separate quotes because they have 2 different mailing addresses.

I do not want to have to pay two separate policies. I guess another option would be to separate the lot

into two parcels and sell off one of them as long as the lots would meet all of the zoning

requirements. Thoughts?

I do have flood insurance, but looking at the documents, it only has 1 of the addresses listed. I am nervous that if

anything were to happen to the address not listed, I would not be covered.

[Casey J Burkhead]

Originally posted by @Joseph Weiss:

Originally posted by @Casey J Burkhead:

Hi @Joseph Weiss ,

Are the two buildings on the same or separate deeds?

The two buildings are on the same deed. One of them is a 902 address, the other is 906. 906 does not appear in any document (closing disclosure, mortgage docs, nothing). 

As long as they are on the same deed, you should be able to get one policy with some tweaks in coverage.  If you aren't already, I'd check with an independent agent who has access to multiple companies.