All Forum Posts by: Jacky Hung

Did you say you own properties (with plural) in Bay Area?  If that is the case, you may want to get a fat, not 1 or 2 but multi-mil, umbrella policy to save you some money instead of upgrading each of your properties' liability coverage.

FYI, a while ago, numerous Bay Area restaurants were hit by lawsuit from a lawyer, https://www.cbsnews.com/sanfra...  I guess someone now found out Bay Area properties smell better than the restaurants.

@Matt A. I think you need a loan agent to help you shop for a mortgage deal. Most of the common and standard terms in California residential mortgage are no point, no fee, no prepayment penalty, fixed 15-, 20- or 30-year term at certain interest rate with little gap in between APR vs. APY. You don't need a lawyer to deal with regular residential property transaction in California because it is handled by your real estate agent, loan agent and title company. You only need a lawyer when you get suit by the tenant or need to evict the tenant. That is the fun part being a landlord in California. Welcome to Cal!

Just to give the feedback to my original inquiry.  Although Hippo is the cheapest, I ended up going with Guard (Warren Buffett's Berkshire Hathaway Guard Insurance).  Guard still saved me way more (~25% in average) on my residential multifamily properties comparing to AllState.

Hi John, thank you for your suggestion.

My AllState rental property insurance cost keeps going up at the average rate of 17% per year for the past two years in the row and no sign of going down and I have zero claim.  That forced me to shop around for better deal.  I got quotes from Hippo which I have never heard of.  Their overall price is cheaper than any other insurance companies (Farmers, SafeCo, etc.)  Does any one have Hippo insurance policy and can share pros and cons?  By the way, my properties are in California.  Thank you!