Property Insurance
I am working on a deal to purchase my first 4-unit apartment building. I was under the impression that I could insure the property as an owner/occupant with a residential homeowner's policy. However, I learned on Friday that because I would hold the property in the name of an LLC instead of in my own name I would have to insure it under a commercial policy.
What do I look for in a good commercial policy? Are there any coverages that I should have or not have? Also, should I work with an independent agent/broker to shop for the best coverage deal or should I go with a specific insurance company?