Carlos Ptriawan
Insurance asking for much higher building replacement cost
My agent called me telling me State Farm said to rebuild my 100k something duplex, it would cost 500k. Unbelievable.While I'm not denying, but who wants to insure 500k to a house that was only 100k something only...is...
Michael Liddicoat
Cost Appraisal Not Appropriate
Hello fellow agents,Please provide some feedback and assistance. I have a seller that purchased their home from their parents three years ago. They are getting ready to sell and want to use the appraised value from ...
John Hammond
Sold a property and owner financed. Is new owner under insured?
We just closed last week. There was a section in the mortgage that states that the owner will have a policy that covers the "full insurable value" and a lot of other legal jargon. The gist of the paragraph is that h...
Roger Devore
requiring 100% replacement cost
I am in the process of cash-out refinance of a property and the lending company is requiring 100% replacement cost. Is that normal for an income property? I had an insurance agent recommend 100% of the value and maybe...
Joe Koppel
Can I get recommendations for rental home insurance?
I currently use Geico (Travelers) for my own home but for a rental is there any discount insurance companies that work with real estate investors? This is my first rental. Thanks.
Daniel Burdi
Hurricane Insurance or NO Hurricane Insurance?
I own a 12 unit apartment complex in Venice, Florida on the Gulf Coast. The property was purchased for about $500k and is probably worth about $700k at this point which is mostly the land value. Essentially, the land ...
Tom D.
Unfair Rate Hike
I just bought a duplex for $97k that I'm living in. The mortgage company's appraisal was for $116k with a replacement cost of $177k, which seems about right. I had to pre-pay for 12 months of coverage, but I got a f...
Joseph D.
Coverage Amount - Value of Property or Amount of Mortgage
How much total coverage should I be buying on my rentals? These are SFRs - the insurance company seems to offer, as a default suggestion, the amount of the mortgage, not the total purchase price of the property. I'm...
Tyler D.
How much should I pay to insure a $40k house?
I'm in the process of buying my first house, which is a $42k SFH that is in great condition.I called USAA and they quoted me a $140k rebuild cost, which I thought was extreme.Their rates were $910 for 1k deductible an...
Sam Kay
Need Multifamily Owner Occ Homeowner's Ins
Hello BP team!Having a tough time finding a company to cover a multifamily property that I intend to owner occ in Jersey City. And when I do, the premiums are insane. Anyone have any homeowner insurance contacts local...