All Forum Posts by: Jason Bott

@Jeyo Punnakottil the TX insurance market is pretty tough, especially if you are coastal.  There are several TX based agents active on BP and I recommend connecting with one of them.  

@Chris Troutman Additional Insured under a personal Renters policy is not always available with each carrier or in each state.  A commercial tenant/policy will be able  to provide Additional Insured language 100% of the time.

Even if you can only get Additional Interest, as long as the policy is in force at the time of any loss, you can put the Renter's policy insurance carrier on notice of a claim if you feel it was due to tenant negligence.

@Cory Binsfield if State Auto is willing to stay on the account with K&T, there premium is going to be hard to beat in the current underwriting environment.   

My team in Edina handles a few portfolios in Superior.  I'll connect with them and DM you any pertinent info.

@Jesse Howell TX will be 1.5-2x your rates in OR.  Many insurance carriers have stopped taking on new business in TX pushing prices up.

I'll PM you the carriers who are the most competitive at the moment.

@Nathan Chamberlin I will send it over now.

@Thom Ruley upon acquisition and during the renovation, you would insure the property with a Builders Risk policy.  Once the policy is rehabbed and rent ready, you can insure it with a traditional landlord policy.

@Shadoe Daniels if you are only running a few units, the policy covering the rental should be all you need. If you start to provide services to others through your LLC, hire employees or open an office location, then you would need to get an additional policy.

Do you have business activity outside of the rental property?

@Jacob Koshy just sent

@David Wasiloski you will want to firm up the insurance pricing.  Chances are your rate will be 25%-50% higher than the historical expense or estimate.  

@John Mocker thanks for the mention.

@Jacob Koshy I'm live in WI, but we have several office location i Chicago.  I'll send you the list of insurance carriers that do well with mix use locations.  There are some specialty insurance carriers that really like the older joisted masonry buildings in Chicago.