Insurance coverage at purchase of a four-plex

[Kathryn Ryan-Dale]

Thanks in advance for help and advice.  I am purchasing a four-plex.  Can anyuone recommend a good insurance company for all-risks coverage upon purchase of this property?  

[John Mocker]

Kathryn,

I suggest contacting several Independent Agents (that represent multiple carriers).  Which policy is used will depend on wether or not you live there.  You should be looking for Building coverage based on the Replacment (rebuilding) cost of the structure.  The coverage should be Special Form (aka All-Risk).  I try not to use the All-Risk term as it does not cover all risks (Flood & Earthquake are two examples of what is not covered).  You will need contents coverage, Loss or Rents, Detached structures, Liability (buy as high a limit as possible) and medical payments coverage.   Some optional coverage to have quoted are Personal Injury Protection, Equipment breakdown, underground pipes, and water backup to name a few.