Commercial Property Insurance Quote

[Chichi Aguoji]

Hi all,

I'm in contract to purchase a mixed use property in southern Illinois (Pinckneyville). The property has 9 units (5 residential and 4 commercial).  All 5 residential units are occupied and 2 of the commercial units are occupied, the other 2 are vacant because they were shops run by the seller.

I'm looking for commercial insurance for the property, that includes earthquake coverage and mining substinence.

Can anyone provide any potential contacts for me to reach out to?

[Owen Rosen]

Quote from @Chichi Aguoji:

Hi George,

THANK YOU so much for such a detailed response. My apologies for not saying so immediately.

I actually got a quote from a local carrier for $1,600 (annual premium), but it didn't include mine subsidence which is required by the bank. I'm still exploring my options but worst case scenario I may have to use multiple carriers with each insuring something different to meet the bank's requirements.

Thanks again,

Chichi

 $1600?  For a 9-unit property?  I'm assuming your quote is for actual cash value coverage and possibly basic perils?  That seems awfully low.