Does anyone have referrals for good home insurance companies in Massachusetts? I just got off the phone with Geico and they apparently have no preferred partners in the area that can provide insurance on investment properties if the deed is owned by an LLC. I'm looking for some referrals for good insurance companies that are willing to insure a property if the deed is under an LLC. The properties I'm looking to insure are buy and hold properties so I'll have tenants living there and they are not owner occupied.
Hi Joe, try "Farm Family" insurance. I think they aee in Marlborough.
If you own a home then try starting with your current insurance co. I recently insured a property like that and it was cheaper and easier to manage everything with one agent.
Hey @Joe Rinella We have used Eastern Insurance Group, they have insured multiple properties of ours that are held in LLCS. I know when your in a pinch Liberty mutual will typically insure LLC's without an issue too but there rates tend to be pretty high.
The Andover Companies 95 Old River Rd.Andover, MA 01810
Hey @Joe Rinella , I highly recommend Matt Lally at Liberty Mutual. Their prices are the best I've been able to find, and he's great to work with.
PM me if you need his contact information.
This is not a Mass company, but they are real estate focused...
Great, thank you @Bob Couture
This is a great thread, thank you to everyone who posted.
@Joe Rinella - If you don't mind could you let us know which, if any, of these companies you selected? I'm getting quotes for my 2 unit now and there's a lot of variation.
@Jason Slater I didn't end up selecting any of these companies because the deal fell through. But I did call Eastern Insurance Group and they were very helpful and knowledgable.
As long as the home you are flipping is not under construction, then the type of policy you are looking for is a Dwelling Fire One policy (DP1). Which is a personal policy sold at a few agencies in MA.
If it is currently under construction then you would want a commercial policy called Builders Risk Policy.
In Massachusetts, one company that is very competitive for vacant or unoccupied homes is Foremost Insurance.
Archetype Insurance in Millbury, MA writes for them.
This is a very helpful thread. Thanks everyone.