Hi BP,

We currently have 3-multi family investment properties in NYC. Each properties currently has their own homeowners policy + a umbrella policy with a $5M liability coverage. Based on my research, when your property is fully rented (i.e., you don't live there anymore--BRRRR) it makes sense to transition over to a landlord policy. The landlord policy will protect the property from damages from tenants which may not be covered by the original homeowners policy (this is inclusive of tenants having a renters policy).

Questions - Would folks be able to shed some light into transitioning over from a homeowners to landlord policy, is it worth it - should we do it? Do folks know of any insurance companies that offer competitive landlord polices in NYC? What are the folks current set-up in protecting their properties?

Best,

MJ