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Jose Quinones
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High insurance for mixed use prop

Jose Quinones
Pro Member
Posted Mar 27 2024, 18:14

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#1 Insurance Contributor
  • Insurance Agent
  • Norwalk, CT
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John Mocker#1 Insurance Contributor
  • Insurance Agent
  • Norwalk, CT
Replied Mar 28 2024, 09:56

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 Rosen
  • Professional
  • Keego Harbor, MI
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Owen Rosen
  • Professional
  • Keego Harbor, MI
Replied Mar 28 2024, 10:01

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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