Who do i use for property insurance for my rentals

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Investor · Asbury, NJ · Member since 2015 · 226 posts · 205 votes
9y

I used this guy to insure my latest flip, not sure if he does rentals, he is on BP @AnthonyLee Insurance Agent from Red Bank, New Jersey very responsive

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  • Deland, FL · Member since 2017 · 2k+ posts · 1k+ votes
    9y

    I'm guessing you paid cash if you already own them and were not required to get insurance 

    I personally self insure as I own all the properties free and clear so I have that option  

    I now have saved enough in not paying for insurance to complete pay for a new house should any of them suffer catastrophic loss

    Your results may vary 

  • Flipper · Cherry Hill, NJ · Member since 2016 · 7 posts · 1 vote
    9y
    Hello Jason, For my properties in South Jersey I use USLI, through Carleton insurance agency in Cherry Hill, New Jersey. I have been very pleased with their service. Message me privately and we can discuss some additional info, perhaps beneficial to us both. Cheers, John Gonzalez
  • Rental Property Investor · Franklinville, NJ · Member since 2016 · 73 posts · 20 votes
    9y

    Hello Jason,

    I dont know it this will help because I live in south Jersey, Quite a distance from you. But I own 15 doors here and Cumberland Insurance Group gave me a commercial policy that covers all of them. I used to insure them separately but I'm saving about $3000.00 a year by putting them all into one commercial policy. 

  • Investor · Asbury, NJ · Member since 2015 · 226 posts · 205 votes
    9y

    I used this guy to insure my latest flip, not sure if he does rentals, he is on BP @AnthonyLee Insurance Agent from Red Bank, New Jersey very responsive

  • Rental Property Investor · South Jersey, Cherry Hill and nearby areas · Member since 2015 · 932 posts · 67 votes
    9y

    SJREIA has 4 Business Affiliates who work with our property investors if you are still looking....

    Esposito Insurance Group - Rocco Esposito

    Holman Insurance - Peter Hackett 

    State Farm - Joseph Meeks Agency

    State Farm - Karen Hartford Agency

  • Peter TverdovBusiness Member
    Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
    9y
    Originally posted by @Mark Vandzura:

    Hello Jason,

    I dont know it this will help because I live in south Jersey, Quite a distance from you. But I own 15 doors here and Cumberland Insurance Group gave me a commercial policy that covers all of them. I used to insure them separately but I'm saving about $3000.00 a year by putting them all into one commercial policy. 

    I presume you need all those properties in an LLC to get one broad commercial policy that covers them all?

  • Investor · Highland Lakes, NJ · Member since 2014 · 24 posts · 17 votes
    9y

    I use Foremost for my rentals

  • Rental Property Investor · Franklinville, NJ · Member since 2016 · 73 posts · 20 votes
    9y
    I did not need to have the property in an LLC to get the commercial policy. They were put into an LLC this year and then all I had to do was add the LLC as a beneficiary to the policy.
  • Rental Property Investor · Yardley, PA · Member since 2012 · 436 posts · 198 votes
    9y
    Originally posted by @Jason Vanterpool:

    Hey guys. I have 6 new purchased properties in south jersey. Who are you guys using for insurance on your rental properties?

     Jason - We have been getting GREAT Rates from State Farm.   We have been using the Joe Meeks Agency in Hamilton, NJ

  • Developer · Little Ferry, NJ · Member since 2016 · 426 posts · 226 votes
    9y

    @Jason Vanterpool Hey Jason, great to hear that you closed on 6 new properties all at the same time. Please connect with me so I can share the contact info to my insurance guy that I use. He is great and will work on getting you the best coverage for the best price. With that being said, if you own the properties out right, then you don't need insurance but that is a risk that you take.

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