Help! Multi family insurance quotes are crazy high!

[Max Amillion]

I’m new to multi family and looking to purchase 2 buildings on one parcel. Each building is located in Missouri and 9 units so 18 units total. We currently have history and experience in single family home rentals but not multi family. With building costs through the roof I get replacement costs being higher but, the replacement costs are coming in double what the market value is for the property. The premiums are going to kill the deal! Any suggestions of a good company with reasonable premiums. One that is NOT going to be problematic if we ever do have to have a claim. Basically I just want to be able to have walk away money of what we are paying in case of a total loss along with only having claims that would be above the $10,000 threshold and above. I’m only looking for highly rated insurance companies. Any advice or suggestions would be greatly appreciated!!!

[Steve Vaughan]

Originally posted by @Bjorn Ahlblad:

We have been with Farmer's for years.........I shop every 2 years, or so. Right now I am working with a broker but don't see a reason to change. Like you said don't go with some cheap company that is reluctant to pay claims.

 I use State Farm.  Had no idea they did commercial lines until I asked. 

We insure 6 buildings with them.  All is pooled to $2M liability, even if one of the quads.  Bonus, not a single review and correct.  Other A lines I've used would come out and make  me 'upgrade ' a bunch of crap periodically. Worse, one summarily dropped me with a new 40 years old or less only across the board. 

Ask your resi insurer if they have commercial lines.