How to find cheapest insurance

Question

My insurance quotes have been huge on my second property (purely rental, first is owner occupied rental).   Any idea how I can shop for a landlord policy while keeping quotes low?  I'm flabbergasted at the idea of having to pay a $5k a year on insurance!

Jason Bott · Answer

@Elias Hubbard ok, I think the issue is that your Home and Auto insurance carrier can not handle a mixed use building.  It's probably a little too "Commercial" for them.

I'll send you some companies my clients have used for older mix use buildings.

Chad Gallagher · Answer

$5K sounds high to me.  We also use Ryan at Red Rabbit Insurance for our rentals, saved us a ton.

Sheldon Zimmerman · Answer

Good Afternoon Elias,

I was looking for an investor-friendly insurance company and I found this guy who works directly for this type of stuff. He saved me 43% from my rentals to personal home and car insurance. It was a huge savings for me. "Red Rabbit Insurance" ask for Ryan if you want a quote. Super great guys and got me the best prices.

Jason Bott · Answer

Elias, $5k a year is not back if it's a 20 unit Building, very expensive if it's a 8 unit.  We need more detail

Where is it?

What is it?

Is it rented or being rehabbed?

Account Closed · Answer

@Elias Hubbard

Shop around, duh. J/k, I would recommend talking to other landlords in your area to see if they have any recommendations. Also, you may want to attend your local REIA meetings. I know in my area there are always agents who attend.

Elias Hubbard · Answer

Hi, @Jason Bott, I was just reading one of your posts!  Feels surreal to have this conversation right now.

It is in a commercial area of Waterbury, CT and is registered as having a commercial component.  We are not currently interested in using the commercial aspect but may seek to rent it out later.

Otherwise, it is a three units.  Two units above the store front with detached unit above the garage.

Rent ready.

Elias Hubbard · Answer

Hi  , I was just reading one of your posts!  Feels surreal to have this conversation right now.

It is in a commercial area of Waterbury, CT and is registered as having a commercial component.  We are not currently interested in using the commercial aspect but may seek to rent it out later.

Otherwise, it is a three units.  Two units above the store front with detached unit above the garage.

Rent ready.

How to find cheapest insurance

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