Landlord Insurance-Lehigh Valley

[Rigo V.]

Hello everyone,

What insurance company do you use for your rentals? How much liability coverage do you get? Is it expensive?

-Thanks

[Dave Lin]

Hi @Rigo V.,

This question is right up my alley, me being in the area. Assuming you will not be renovating the building; in which case you will need to get a builders risk or a vacant under renovation policy depending on extensive the renovations are.  I personally like Erie, Philadelphia Contributionship or Safeco.  Each one of them has their own appetite.  If the tenant has a dog breed that falls outside of the insurance company's guideline,  eg. Pit bulls, I would recommend State Farm.  I tell my clients to go where they can get the best coverage for their situation, even if not with me. As for liability, being an insurance agent/broker, I always said as much as you can get.  Depending on the company, most will only offer 500k or 1 million liability per property, but you can also get an additional umbrella policy over the properties.  In my experience, the extra liability premium is negligible.  

Disclaimer: I am insurance agent, but not your insurance agent.  What I said are for  general informational purpose only.  There is no client relationship between you and I. Consult your insurance professional before making any insurance choices.