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Updated almost 7 years ago on . Most recent reply

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Steve Balinski
  • Roselle, IL
14
Votes |
89
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Struggling to get find homeowners insurance for 4 unit....?

Steve Balinski
  • Roselle, IL
Posted

Hello to all, I have a question about home-owners insurance for a 4 unit rental im looking to purchase.

I have called Geico and Travelers so far and told them im looking to purchase a 4 unit rental property and I will transfer the title to my S-Corp when I am done. So far everyone is acting like they don't insure properties owned by businesses. Geico could not find me ANY of their brokers who would work with me.
  Travelers said they could, but they still acted like they have rarely dealt with this. Am I saying something wrong? I should be saying it will be owned by my business or S-Corp right? Is this what most people say when they call to get insurance?
My fear is if I say I am the owner and God forbid something happens to the property, I transfer it to my business entity, and the insurance company says "we didnt insure the property owned by balinski investments, we insured the property owned by steve balinski"
Any suggestions?
Thanks

Most Popular Reply

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1,979
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Kim Tucker
  • Flipper/Rehabber
  • Kansas City, MO
708
Votes |
1,979
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Kim Tucker
  • Flipper/Rehabber
  • Kansas City, MO
Replied

National REIA has a new Insurance Partner - Arcana Insurance.

I can't speak for rental property, but when I got a quote on the vacant properties we are buying, the monthly fee was well over 50% less than what Rehab Guard - NREIG was charging me.

If you visit benefits on the National REIA Home Page, or business associates on the MAREI page, you will find the link to Arcana with National REIA special pricing.

  • Kim Tucker
  • Loading replies...