Hey BP...closing my first deal in Worcester, MA and am trying to find a good insurance company for a tripple decker. My normal company (USAA) wants to charge me $4575 per year which I thought (hoped) is outrageous. Anyone out there have tripple deckers in the area that want to share insurance info?
Your question prompted me to join biggerpockets and post my first reply as my wife and I were just in a similar situation a few months back.
I have been a member with usaa for years now and thought they would be my go to insurance company for our new home (triple decker as well) that we just purchased, to our surprise the quote from them was almost 4k. We shopped around and finally went with Amica Insurance. They were able to get us an owner occupied home owners policy and umbrella insurance for half of what usaa was proposing.
Hope this help!
Thanks James. I will give Amica a call. I've heard USAA is expensive where they don't have a large customer base like near military installations. I actually switched my car insurance from usaa to geico when I moved to Mass, but geico doesn't offer non occupied insurance. I will shop around as the usaa quote about made this deal go south.
I've gotten quotes from these agents:
Ellis insurance agency
182 West Central Street, Suite 302
Natick MA 01760
Tel: 800-824-4455, 508-653-1600
Paul M Phipps insurance agency
80 Main St
Hopkinton Massachusetts 01748
+1 (508) 435-6388
567 Southbridge St
Auburn, MA 01501
Sullivan, Garrity & Donnelly
These agents were all very helpful and their quotes were reasonably competitive.
Ultimately, the best quote came from Union Mutual of Vermont.
Thanks @Charles Gillis . I'll be making some calls over the next few days for sure.
I've found Vermont Mutual pretty good for dwelling policies for older multifamily properties. They sell through independent agents.