Updated over 4 years ago on . Most recent reply
Multifamily and ISO's Fire Suppression Rating Schedule
I have a property under contract in a rural area of Michigan. The insurance quotes are literally 6x the normal cost of a building of similar size. This is due to the property's proximity to a fire station (7 miles) and not having a fire hydrant nearby. The score it's getting is a "10" which is the worst when it comes to insurability. So basically they charge incredibly high rates.
Anyone ever dealt with this or know a way to reduce the cost here? By getting the bill down I can significantly improve the value of this property.
Main suggestion so far is to get municipality to install a fire hydrant within 1,000 feet of the building. I can try that but would love some more sure-fire options.