High insurance for mixed use prop

Investor · Member since 2023 · 34 posts · 9 votes

What are most paying for mixed use property insurance nowadays?

I have a mixed us prop; 4 residential; 1 commercial space. In 2022 insurance was 5500, 2023…6500…2024……they’re quorting me $8700….wtf???? Can anyone recommend some brokers???

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John Mocker
Insurance Agent · Norwalk, CT · Member since 2016 · 2k+ posts · 1k+ votes
2y
Jose,
All I can suggest is to shop it. You need a Independent Agent with enough markets to have a good one for the mixed use properties. We write with many different carriers but only a handful want, and are competitive on the mixed use. If you PM me info on what the Commercial use is, I may be able to suggest an Insurance company(ies) to try.
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Owen RosenBusiness Member
Professional · Clinton Township, MI · Member since 2015 · 735 posts · 272 votes
2y
It's not really possible to compare properties and insurance costs blindly.
The market has significantly tightened and worsened since 2022 with price increases across the board for the most part.
Definitely recommend you speak with a knowledgeable broker. Give one broker a shot before moving on to others so they can negotiate on your behalf and find the best fit.
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