What insurance companies will underwrite an LLC for MTR arbitrage?

Rochester, NY · Member since 2017 · 6 posts · 5 votes

Hi all - I have 3 MTRS that I own and I am subletting my first to rent as a MTR. I told the homeowner I would carry renters insurance and my tenants will as well. But its been a problem for my insurance guy to find an underwriter who will do a commercial policy for a renter.

Does anyone have someone they can recommend? Thanks in advance!

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Don KonipolBusiness Member
Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
3y
Quote from @Sally Berry:

Hi all - I have 3 MTRS that I own and I am subletting my first to rent as a MTR. I told the homeowner I would carry renters insurance and my tenants will as well. But its been a problem for my insurance guy to find an underwriter who will do a commercial policy for a renter.
Does anyone have someone they can recommend? Thanks in advance!
I don’t think you will be able to get insurance from a major insurer, with the possible exception of AMICA. If AMICA won’t write the policy, your best bet is to contact an independent agent who deals with “supplemental” lines, like Lloyds. Unfortunately, this is high priced insurance, with premiums up to twice the rate of the “majors”. Most of these companies are reinsurance companies headquartered in the Bahamas (counter intuitively they usually act pretty responsibly and do payout claims!).
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Ellen Bonner
Member since 2021 · 9 posts · 3 votes
3y
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Allen DuanPro Member
Property Manager · Los Angeles, CA · Member since 2022 · 590 posts · 463 votes
3y
Proper insurance will cover your rental arbitrage properties.
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