Can't Get a Call back for Insurance Quote in Detroit Metro

Can't Get a Call back for Insurance Quote in Detroit Metro

Real Estate Agent · Vacaville, CA · Member since 2019 · 45 posts · 19 votes

Hello all,

Rookie here, and I am researching my markets, trying to nail down actual expenses, costs, and the like. I have reached out to two different independent agents that service the Detroit 48205 area I am currently researching/prospecting, etc. 

My biggest issue is, as this will be my first property and out of market, I have absolutely no idea what a GOOD insurance policy is likely to cost me for a SFH in that area. I am not asking for anything that I am going to hold someone to, but for a remodeled 2/2, 785 sq ft what is a reasonable amount, and what is high?

Thank you for any help or advice you can give.

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Greg ScottPro Member
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
4y

That area is going to be a higher risk. The 48025 zip is in the city-proper so coverage will be much more expensive than in the suburbs.

Give Insurance One on Northwestern Highway a call.  I'm sure they can give you a quote.

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  • Greg ScottPro Member
    Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
    4y

    That area is going to be a higher risk. The 48025 zip is in the city-proper so coverage will be much more expensive than in the suburbs.

    Give Insurance One on Northwestern Highway a call.  I'm sure they can give you a quote.

  • Real Estate Agent · Vacaville, CA · Member since 2019 · 45 posts · 19 votes
    4y
    Quote from @Greg Scott:

    That area is going to be a higher risk. The 48025 zip is in the city-proper so coverage will be much more expensive than in the suburbs.

    Give Insurance One on Northwestern Highway a call.  I'm sure they can give you a quote.

     Thank you Greg, that's important information. What other zips/neighborhoods would you suggest to alleviate that higher risk?

  • Greg ScottPro Member
    Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
    4y

    I don't go by zip but by municipality.  There are a ton of places that could work outside of the city of Detroit.  Here are a few:

    Allen Park, Dearborn, Southgate, Livonia, Redford, Farmington, Warren (north of fwy), Sterling Heights, Southfield, Royal Oak, Berkley, Ferndale (More North the better)

  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
    4y

    You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

    https://www.biggerpockets.com/...

  • Real Estate Agent · Vacaville, CA · Member since 2019 · 45 posts · 19 votes
    4y
    Quote from @Drew Sygit:

    You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

    https://www.biggerpockets.com/...


     Yep. I saw that and read it all. Great stuff. Even sent you a message here on BP to discuss property management, but guessing you have not seen it yet. 

  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
    4y

    @Phil Clark  We don't check our DM's, please email:)

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