Rental Portfolio Property Insurance

Rental Property Investor · Philadelphia, PA · Member since 2021 · 3 posts · 2 votes

Any recommendations in the Philadelphia metro area for a property insurance broker that will provide blanket coverage for rental properties?

Here is my rental portfolio mix:

-6 2-4 multi family properties

-21 units total

-2 properties also need flood insurance

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Yuriy Skripnichenko

Property Manager · Phialdelphia, PA · Member since 2017 · 511 posts · 627 votes

I’m in the same boat—currently looking for a new broker as well. I need someone who can shop around with multiple carriers and offer a range of options, including General Liability under a business entity and Builders Risk policies. Over the past year, I’ve seen significant rate increases, and several providers either pulled out of the market entirely or chose not to renew my policies. If anyone has a broker who’s still delivering solid coverage and competitive pricing, I’d love a recommendation.

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Kevin MoyerBusiness Member
Property Manager · Philadelphia, PA · Member since 2019 · 271 posts · 303 votes
1y
Lucas,
We manage 650+ units all around Philly and our owner clients have lots of different insurance solutions. I sent you a DM I am happy to connect you with a few highly recommended local brokers to shop around
Otter Property Management4.8632 Reviews
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Alan AsriantsBusiness Member
Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
1y
Reach out to Alina Kreymer. I will message you the contact info
[email protected]267-767-0111
Alan Asriants - New Century Real Estate 592 Reviews
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Yuriy Skripnichenko
Property Manager · Phialdelphia, PA · Member since 2017 · 511 posts · 627 votes
1y
I’m in the same boat—currently looking for a new broker as well. I need someone who can shop around with multiple carriers and offer a range of options, including General Liability under a business entity and Builders Risk policies. Over the past year, I’ve seen significant rate increases, and several providers either pulled out of the market entirely or chose not to renew my policies. If anyone has a broker who’s still delivering solid coverage and competitive pricing, I’d love a recommendation.
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Ben Guttman
Specialist · Baltimore, MD · Member since 2017 · 418 posts · 126 votes
1y
Quote from @Lucas Lopez:

Any recommendations in the Philadelphia metro area for a property insurance broker that will provide blanket coverage for rental properties?
Here is my rental portfolio mix:
-6 2-4 multi family properties
-21 units total
-2 properties also need flood insurance
We do this all day. Corporate is in MD but we have a guy in the Philly market as well.
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Sheryl Sitman
Rental Property Investor · Philadelphia, PA · Member since 2015 · 483 posts · 362 votes
1y
As insurance rates rise and some carriers reduce the coverage they include in policies without many customers realizing it, getting good coverage and pricing requires effort. I work with a broker who understands investor needs and proactively checks that I remain with the best carriers and have the correct coverage. Insurance is a hot topic in the discussions I see among Philly landlords, especially as costs rise. It seems like some carriers are raising rates significantly and taking advantage of the fact that there are carriers that are choosing to leave the local market - so working with a broker that continuously refines their list of go to carriers is crucial. I recently heard from an owner that he had a legitimate vandalism claim that got denied. When i asked him who was the carrier, it turned out to be one I used years ago and my broker moved me away from them due to their deteriorating service. Many folks don't realize that not all carriers are created equal. Feel free to reach out.
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