Port Sanilac, MI · Member since 2015 · 20 posts · 7 votes
I am getting some outrageous rates. We are at 8 units and about to get into a 9 unit apartment building. Our policies are spread out among 3 providers so far. Each time we take the lowest bidder as the rates seem to be all over the map. The current owner of the 9 unit is getting rates at $35 per unit per month and I'm being quote $80 per unit per month. Every provider acts like Rentals are taboo or an issue and high dollar. Is there not an insurance company out there that pursues this type of work, instead of over pricing it?
Let me know who you might use in Michigan for insurance on rentals. Are there companies out there that will do a blanket or portfolio policy? Are there certain limits I should be looking to maintain or lower to get a better price. I'm ok with $1000 or $2500 dedcutibles to get very reasonable long term rates.
@Julie Fagan We own 6 units in Port Huron and use Allstate...I wouldn't say they are inexpensive but it's worth talking to them! Call Rachel at Mark Gillihan Allstate PM me for their number. By the way where are you buying the 9 unit? We are also looking to add to our portfolio and those are hard to find!
Andrea Walter/Catherine Miles at www.hersheyinsurance.com . Not sure if I'm allowed to post, if not, sorry! She took care of me for Homeowners and Auto.
http://www.affinitygm.com I average around $39 a property depending on coverage amount. My deductible is high ($5,000) but if there is a storm that passes through and there is damage to multiple houses I only pay that deductible amount once for all of them, so it is like a blanket deductible amount. I haven't shopped insurance in a year so if you find a good place can you let everyone know?