All Forum Posts by: Andrew Korver

@Jason Bott thank you for the info.  Both properties are titled in my personal name.  The carrier is Farmer's Insurance so I would imagine that their policies would not deviate far from the norm.  

I will keep digging.  Thank you for the helpful guidance!

Hello all,

Newbie question here. I am due to close on my first deal within the next 40 days. As such, I have contacted my insurance agent to obtain quotes for my existing home (which will be converted into an SFR) and my future home (a house hack duplex).

My agent has provided me with landlord policy quotes for each structure which seem reasonable, but has recommended that I also carry a "personal renter's policy" while my wife and I live in one side of the duplex.  This seems unusual to carry additional renter's insurance as the homeowner.  In the terms of my lease agreements, I will require my tenants to carry a renter's insurance policy.

In addition to the two structural policy quotes, I also have added 1M of additional liability coverage.  Is the additional "personal rental policy" an ordinary request or is my agent trying to up-sell me redundant coverage?

Thanks in advance,

Andrew

Hello all, I would be interested in your findings as well.  Based here in the Portland area and am in need of a good RE CPA.   

I would always recommend a careful inspection.  I am currently closing on a duplex in my area and the inspector found an attic mold issue that I would not have located on my own visual check.  This allowed me to negotiate a professional remediation and full re-sheath and re-roof.   A few hundred dollars out of pocket to avoid a potentially large expense down the road and possible health liability for future tenants.