All Forum Posts by: Cameron Moore

It is possible that the "Flood Risk" rating of 6/10 for the house you are interested in is authentic, but it is also important to consider the context and any additional information available. For example, the fact that the neighboring houses have a rating of 1/10 could indicate that the 6/10 rating may not be accurate or that the risk assessment method used by the website is not consistent.

It would be wise to consider this information as one factor in your decision-making process, but also to do additional research and consult experts such as local real estate agents, insurers, or floodplain managers to get a better understanding of the flood risk in the area.

I would say, the best approach is to ask other Multi-family investors in the area who they use. You want someone who is knowledgable in investing. 

Unfortunately, it is probably weighing heavier on you that it is Vacant for part of the year. 

Sounds like a straight forward Builders risk policy. 

As an investor, you are fighting with a hand tied behind your back if you do not hire an Insurance broker. I understand it is a relationship game but captive agencies just cannot offer what brokers can. They can shop the ENTIRE market for you and find the carrier that most wants your exact type of risk in your exact location. They do it every renewal as well so when the carrier inevitably goes up, they can move you to another carrier. 

I always explain to people, as a captive your agent only has one option to offer you. If the rate shoots up, their only option to try to keep your business is by small exclusions, raising deductibles, and moving a replacement cost policy into ACV with hopes there isnt a TOTAL loss on your home. 

Make sure you hire an insurance broker to shop multiple options at every renewal. 

I have never heard of this but being in FL it makes sense LOL, following this thread. 

Hire an Insurance broker that can shop the market and will not be partial to any one company. 

@Andrew Postell is hands down the best option for you.