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General Landlording & Rental Properties

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William Edwards
  • Real Estate Investor
  • Landover, MD
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Property Insurance

William Edwards
  • Real Estate Investor
  • Landover, MD
Posted Aug 17 2008, 02:55

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?

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