Home Insurance for Multiple Homes on the Same Lot

[Cody Pexton]

Hi Folks, I'm new to the REI world. I've been messing around with the rentals calculator quite a bit... analyzing real deals in locations I'd actually be interested in. I've seen a couple properties that have "two homes on one lot" or "two duplexes on one parcel". I'm curious if those of you with an investments like this have shopped around to find bundled insurance policies? Is that a thing? Can you get two separate buildings on the same insurance policy, or have you found that they generally need their own (completely separate) insurance policy?

I have also seen duplexes that are only separated by a roofed car port... so I'm curious where they draw the line. 

Thanks!

[John Mocker]

Cody, Have had this situation in the past. They way I insured it was to write two dwelling/fire policies with the same insurance company. One covered one building and Liability for the whole property. The other policy would just cover the second building. Your agent needs to spell it out and get it ok'd by the company in writing so there is no issue later. I could see where a company may want both policies to have Liability. Again,, make sure policies are with the same Insurance company and get it in writing that they ok'd it. If you can not find a market PM me and I will let you know which company I used in the past and if they write in MA.