Home insurance when house hacking

Newark, New Jersey
Insurance
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Home insurance when house hacking

Steven Catudal
Rental Property Investor · NJ · Member since 2023 · 25 posts · 21 votes

Hi folks,

I am buying a duplex as a primary residence. I will rent out one unit and will live in the other. I was planning to rent out the extra rooms in the unit I am occupying. I am trying to find home insurance but am having a hard time finding one that allows this.

Any advice?

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John Mocker
Insurance Agent · Norwalk, CT · Member since 2016 · 2k+ posts · 1k+ votes
2y

Steve,

As Kevin mentioned, there are multiple companies that will write a 2 family dwelling under a Homeowners policy.  Knowing the NJ market, you may be having difficulty due to the proximity to the coast.  Also, many companies require a Lead Safe Certification for multi-family dwellings.  It could also be the age of the systems (roof, electric, plumbing, heating) or other factors.  The number of boarders may also push you out of certain companies due to their guidelines.  

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  • Kevin Koone
    Insurance Agent · Maumelle, AR · Member since 2015 · 131 posts · 41 votes
    2y

    Steven,

    I'm not in your area so things may be different but we have several carriers here that allow that with no problem.  Safeco, Travelers, Foremost and others.  Have you contacted an independent agent there?  I can refer you to one if needed.

    1Reply
  • John Mocker
    Insurance Agent · Norwalk, CT · Member since 2016 · 2k+ posts · 1k+ votes
    2y

    Steve,

    As Kevin mentioned, there are multiple companies that will write a 2 family dwelling under a Homeowners policy.  Knowing the NJ market, you may be having difficulty due to the proximity to the coast.  Also, many companies require a Lead Safe Certification for multi-family dwellings.  It could also be the age of the systems (roof, electric, plumbing, heating) or other factors.  The number of boarders may also push you out of certain companies due to their guidelines.  

    1Reply
  • Steven Catudal
    OP
    Rental Property Investor · NJ · Member since 2023 · 25 posts · 21 votes
    2y

    Very helpful! Thank you!

    0Reply
  • Dominic RosatoBusiness Member
    Real Estate Agent · Jersey City, NJ · Member since 2022 · 82 posts · 61 votes
    2y

    Hi Steve- I used to work in the insurance industry and understand the confusion. However, if you work with insurers based in Northern NJ you will have no trouble finding something that works. 2-4 unit properties are in abundance here and are often being house-hacked. I always recommend State Farm, as their standard homeowner policy will cover your additional rental unit automatically. If you'd like any recommendations for an insurance broker or have questions regarding coverages, feel free to reach out! Best of luck with your purchase.

    [email protected]973-224-8969
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    0Reply
  • John Schaeffer
    Member since 2023 · 77 posts · 28 votes
    2y

    Hey Steve,

    I'm an insurance agent in North Jersey and you'll have a tough time finding coverage.

    I can try to find something for you if you'd like.

    0Reply
  • Jonathan Soto
    Lender · Newark, NJ · Member since 2016 · 695 posts · 252 votes
    2y

    i have similar situation in one of my rentals. i can share you my insurance folk to help with your situation

    0Reply
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