All Forum Posts by: Casey J Burkhead

Hi @Jem J.,

I get this questions a lot. As long as there is no other business conducted by your LLC, as Dave said, you can just add the LLC as an additional insured to the policy(ies). There are also some personal lines companies that will make the LLC the first named insured if you prefer it that way.

Hey @Judy Lipinski ,

Is your insurance broker a captive agent (i.e. State Farm, Allstate, Erie) or can they quote your properties with multiple companies?  It never hurts to shop around and really determine if you are in fact paying too much.  For the majority of my clients around Pittsburgh, Philadelphia Contributionship seems to be the most competitive for individual landlord dwelling policies.  And there are many different options for vacant policies but none are ever cheap.  If you have 10+ properties in your portfolio, a property package policy may be a good fit.  Let me know if I can help.

Hi @Miguel Nava - Congratulations and I'd be happy to provide some options.

Hi @Attila Bertalan ,

I know for sure, in certain states, Travelers will write a home policy for a property that has some knob and tube as long as it is in good condition and there is a breaker box.

Coffey Contracting - https://coffeycontracting.com/

Hey @Frank Macias - I don't actually own any property in Bonita Springs but I can tell you it is very easy for an insurance agent to quote a flood policy for an insured on a property that they are interested in purchasing.  If you currently work with an independent agent and have a property in mind that may work, you could give them the address and ask for a quick quote.  

@Ryan Zaninovich - as Jason said, you do need to look elsewhere as there are insurance programs built for your type of situation.  I have a carrier that has a property package policy that I use for my clients with fifteen plus investment properties.  They can add and remove properties on their own on a daily basis.

@Linda Pasas ,

I understand your frustration.  However, I do not recommend self insuring.  You may be able to cover the cost of the burst pipes and the repairs that go along with it.  But what if a property burns down completely?  Do you really want to be responsible for paying the cost of cleaning up that mess?  Just demolishing what's left and cleaning up the lot can cost thousands of dollars.  And even if you do have the cash to cover that, do you really want to?

I agree with the two previous comments - you should find an independent agent who can get you a policy that makes sense and explains what's covered and what's not.

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.

Hi @Joseph Weiss ,

Are the two buildings on the same or separate deeds?