Updated over 7 years ago on . Most recent reply
Insurance policy question
I have a question for the seasoned owners out there. I am buying my first larger complex of 36 units. I am wondering what kind of polices you get on buildings like this. The current owner is paying $11k per year in taxes but when I go get quotes I am getting prices around $20k which seems like a huge bump for the same property. Do you get replacement cost? What is the norm for a property like this? Would love to get it down around what the current owner is paying but I want to make sure I'm covered in case something happens.