Investor · Lafayette, CO · Member since 2016 · 88 posts · 17 votes
My insurance agent says I've reached the 5 property max to receive better pricing through their go-to carrier, Vermont Mutual, and will now have to bind with a more expense Massachusetts state-sponsored program. Any experience with this? Thank you, Paul
My insurance agent says I've reached the 5 property max to receive better pricing through their go-to carrier, Vermont Mutual, and will now have to bind with a more expense Massachusetts state-sponsored program. Any experience with this? Thank you, Paul
When I purchased my 5th investment property I had to move from a personal to a commercial umbrella policy.
My insurance agent says I've reached the 5 property max to receive better pricing through their go-to carrier, Vermont Mutual, and will now have to bind with a more expense Massachusetts state-sponsored program. Any experience with this? Thank you, Paul
When I purchased my 5th investment property I had to move from a personal to a commercial umbrella policy.
Buffalo, NY · Member since 2018 · 790 posts · 530 votes
6y
Every insurance company is different and has different specialties. If you are with a smaller company they may not want the exposure. Since you said broker he/she should be able to shop your business around and find you the deal that makes the most sense. My broker just shopped my commercial property policy and had quotes ranging tens of thousands of dollars from different insurers for comparable coverage.
Lender · Tyngsboro, MA · Member since 2009 · 3k+ posts · 2k+ votes
6y
Go to an insurance broker, and at the same, ask VT Mutual for a quote if you have a property in an LLC, which then requires a BOP instead of homeowner policy. (Business Owner Policy), they are always more expensive.