All Forum Posts by: Dennis Moynihan

You can do a shared limit program of say $600M and share that limit with other investors. That can be an option if you are big enough. Please DM and we can estimate if this can be an option for you. Other than that, Property insurance is one of the lines of insurance that cannot easily be put into a Captive. Typically companies, need to be spending at least $200,000/year in premium on the casualty lines of insurance to be a candidate for a Captive. Best of luck!

Hi Kurt - I'm a commercial insurance broker right in the loop in Chicago. We have a technology platform that we offer to clients that tracks and manages all certificates of insurance for accuracy and completeness automatically. It takes all the work off of you. Feel free to DM me if you are interested or want to talk generally about the insurance. Best of luck!

Hi Eric - The bank will not be able to help you out. You need to contact whoever is the insurance broker/agent that is placing the Property & Liability insurance on behalf of the buyer. The insurance agent/broker is the only person that will be able to get this done for you in most circumstances. Please feel free to DM me with any questions. Best of luck. 

DM me Michael. I am here to help. 

You will need Builders Risk and General Liability. Yes, if you are acting as a GC and the subs do not carry insurance, this is a BIG risk to you. 

Hi Sarah - This depends on the size and length of time of this flip. Most standard property policies will exclude any claim for major renovations. You may need to get a builders risk and general liability policy. This depends on the amount of renovation taking place thought. Feel free to DM me with any questions. Best of luck!

Yes, you are not properly covered with the coverage mentioned above. For your next project, feel free to DM me and we will make sure to get your proper coverage this time. 

Andy, I'm a commercial insurance broker that only works with investors, developers, etc. and I also invest in Indiana (+5 unit properties only). If you are still looking or want options on the next property, please feel free to DM me. This is right in my sweet spot. Best of luck. 

This depends on your appetite for risk. The best way to do it is to get one umbrella for all of the properties regardless if they are in different LLC's. The separate LLC's does not matter for the insurance. Please feel free to DM me with any questions. Best of luck Trevor!

Look forward to attend my first BiggerPockets meet up event.