All Forum Posts by: Casey J Burkhead

Hi Norm, 

I can confirm your landlord dwelling agent is correct and one of the few negatives of getting the umbrella from a company other than the one who handles your primary lines is the cost may be higher. Chris also points out another possible factor -  having lines of business with multiple agents could possibly leave you open to gaps in your coverage unless you're staying on top of it yourself. And yes State Farm should be able to write you an umbrella to cover everything including the rental. Just keep in mind that if you plan on purchasing more rentals down the road, most companies have a limit to the amount of units they will insure for one person. 

--Casey

Hi Jeremy,  I have written several of my client's rental properties this way.  The only problem you might eventually run into is the Insurance Companies will have a limit as to how many landlord dwelling policies they will cover under one persons name.  There is usually a building limit and/or a unit or number of families limit.

Hi Kelly,

With a lot of companies in this situation, as long as you are living in one part of the three family property, you can insure on a standard homeowner's policy.  Your Agent would just indicate that it is a multi-family dwelling with owner occupency.  I am licensed in TN if you would like to message me directly for more information.

personalumbrella.com

Hi Richard,

There are several companies out there who will write a vacant dwelling policy for the type of property you're talking about.  The coverage is not as good as a standard homeowner's policy and the cost tends to be more due to the higher risk.  A few of the companies I use who will write this type of policy are American Modern, Foremost, and Vacant Express.  If someone is insuring a property like this with a standard homeowner's policy or landlord dwelling policy, it is improperly insured and they would risk not being covered at all in the event of a claim.

Hi Kate, I am a local agent and would be happy to assist.  Feel free to contact me.

Erick - I'd be happy to see if I can help.  Feel free to contact me at your convenience.