Property Insurance for Triplex in Kansas City

[Dennis S.]

I am a new investor and am under contract on my first property, which is a Triplex.    

I am shopping around for Insurance for the property and am running into some higher numbers then I expected for the most part.  I have seen recommendations on BP for REIGuard, which looks to be a product offered by NREIG. 

I reached out to them and received what is by far the lowest price back on the quote, but after reading a couple threads here about the claims process seeming to require lawsuits to get anywhere I am more worried about it.  The recommendations here seem to all come from those who haven't had to work through a claim with them, so based on monthly cost alone.  Although they seem to be highly recommended here, I have not been able to find any examples at all of anybody having a good experience with their claims process.

Does anyone have any recommendations for other Insurance companies, or a broker that I could speak with for insurance in the Kansas City area?  This is an investment property only, and I own my own home on a separate policy.

Thanks for any suggestions and insight!

Dennis

[Alex Deacon]

@Dennis S. may I suggest meeting with some local insurance brokers who have a lot of experience with rental property. There is a huge difference. I have a lot of experience with insurance claims because my portfolio is fairly significant and we manage a lot of properties for other clients. Anytime we have had a claim and that was covered by my insurance broker it was seamless. Now consider it may be more money but also consider the fact that if there is a claim you can count on your insurance to do what it was created to do which is to insure. Not cause sleepless nights and lawsuits. Just pick an insurance company carefully just like you would pick an attorney, RE agent, CPA etc..