Updated about 1 month ago on . Most recent reply
Insurance for an apartment building in CA near SF bay area.
I am having a hard time for finding insurance for an 11 unit apartment building in California. The area is not high fire risk and in a large downtown. Is a low income area, and building is not in great condition, but 90% occupied. It is a deep value add deal.
Trying for California Fair plan now. Any other suggestions?
Most Popular Reply
Well we have got a number of rejections and some really high quotes. But its also true that CA is in a bad spot (more than other states) with insurance, as number of commercial insurance providers pulled out (e.g. Berkshire Hathaway discontinued my policy this year). Still if you are holding in bay are or so called "big cities" it is fine as I get good quotes for them. Still in the process of trying some other providers and California fair plan with the broker.