I own a four unit property in Sheboygan WI and am looking to see what a good premium is considered or if anyone knows of anyone I should contact.
Thank you for your time/connections.
For a four unit, a regular residential broker should be able to cover it. I'd start with the Allstates and State Farms of the world, then maybe go through a broker.
I would call no lessor of 5-10 brokers/companies. There is just so much variation with property insurance.
Be sure to get the details: Is it a replacement cost or Actual Cash Value (ACV) policy? Does it include loss of rents? What are the deductibles? Etc.
Your rate per $100 of value will range from $0.30 - $0.70. So a $100,000 building value will have an annual premium of $300 to $700.
in WI, there are a few property characteristics that drive pricing.
older than 1980 will drive premiums up
Hardwire smoke detectors and/or sprinkler system will greatly drive premiums down
Some companies will not offer quotes on buildings with Roofs older than 20 years
Lastly, if you have had any losses the last few years, that could drive up premiums.
There can be other factors, but 95% of the time the above drive the pricing.
Thanks everyone! I will call around and get some quotes.
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