Insurance for Property in Cleveland, Ohio

Cleveland, Ohio
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Insurance for Property in Cleveland, Ohio

David De La TorrePro Member
Investor · Member since 2020 · 35 posts · 38 votes

Hello!

My first out-of-state rental property in Cleveland, Ohio is almost done rehabbing. It's a 4 bed 1 bath and I'm open to either renting it or selling it (if I'm offered a price around the ARV). I'm trying to figure out what kind of insurance plan to get that would be suitable for both these exit strategies.

I'm not trying to pay for what I don't need but I would like to be fully covered for an affordable price. 

Can anyone recommend me a great insurance company that's also headache free when it comes to filing claims?

May you also recommend the right questions to be asking these companies? 

Thank you and Happy Investing!

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Andrew Weiner
Property Manager · Cleveland, OH · Member since 2020 · 268 posts · 315 votes
2y

I'll send you a few names in a DM

1Reply
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  • Andrew Weiner
    Property Manager · Cleveland, OH · Member since 2020 · 268 posts · 315 votes
    2y

    I'll send you a few names in a DM

    1Reply
  • David De La TorrePro Member
    OP
    Investor · Member since 2020 · 35 posts · 38 votes
    2y

    Thank you!

    0Reply
  • Collin P Oakley
    Member since 2022 · 5 posts · 1 vote
    2y

    I am having an issue with insurance renewal, do you mind sharing information with me as well?

    0Reply
  • Christopher SpearPro Member
    Contractor · Cleveland, OH · Member since 2020 · 33 posts · 25 votes
    2y

    Hi David,

    Call Chris Okeson at Busha-Okeson Insurance Agency. 216 766-6300

    0Reply
  • Keyano BurgessBusiness Member
    Cleveland, OH · Member since 2024 · 32 posts · 23 votes
    2y

    Braeden Friss with State Farm Insurance is my go-to guy: (440) 328-7626

    [email protected]216-387-7220
    Lokal Real Estate518 Reviews
    WebsiteView Page
    0Reply
  • Collin P Oakley
    Member since 2022 · 5 posts · 1 vote
    2y

    Thank you all for the recommendations, I was able to get help from Owen Rosen.

    1Reply
  • Jake BakerBusiness Member
    Flipper/Rehabber · San Diego, CA · Member since 2020 · 1k+ posts · 695 votes
    2y

    @David De La Torre

    Be sure to have builders risk insurance while you are rehabbing. Once you refinance, change it to a rental policy. I have gotten burned before because I didn't have the right insurance while I was rehabbing. 

    [email protected]
    BookkeepingRE - Bookkeeping for Real Estate & Service-Based Businesses58 Reviews
    WebsiteView Page
    1Reply
  • Owen RosenBusiness Member
    Professional · Clinton Township, MI · Member since 2015 · 676 posts · 259 votes
    2y
    Quote from @Collin P Oakley:

    I am having an issue with insurance renewal, do you mind sharing information with me as well?


     Thanks Collin, happy to help.

    Royal Oath Insurance Group4.9203 Reviews
    WebsiteView Page
    0Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @David De La Torre:

    Hello!

    My first out-of-state rental property in Cleveland, Ohio is almost done rehabbing. It's a 4 bed 1 bath and I'm open to either renting it or selling it (if I'm offered a price around the ARV). I'm trying to figure out what kind of insurance plan to get that would be suitable for both these exit strategies.

    I'm not trying to pay for what I don't need but I would like to be fully covered for an affordable price. 

    Can anyone recommend me a great insurance company that's also headache free when it comes to filing claims?

    May you also recommend the right questions to be asking these companies? 

    Thank you and Happy Investing!


     what's the question, what kind of insurance do you get? If renting RENTERS insurance for the amount you invested NOT replacement costs, it will be about 1k-1300 a year. 

    1Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Collin P Oakley:

    I am having an issue with insurance renewal, do you mind sharing information with me as well?


     why are you having an issue? 

    0Reply
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