Having trouble finding a local reputable insurance company that will insure my investment property purchases from day 1 of purchase. I invest in Philadelphia Pennsylvania 19134 zip code area. One of my past purchases had knob and tube electrical but working kitchen and bath. And another did not have an operable kitchen. I had to use out of state companies for these 2 flips. Want to work with local companies as much as possible.
It is important to get insured from day 1 of purchase, as I have experienced vandalism in 1 of my vacant properties (stole all my copper piping in house and aluminum window siding in my side alley). I had an alarm system installed next day to link up with my computer. Best investment I made for peace of mind. Did not have any theft issues after installation. Glad I had insurance policy even though I did not claim the loss. They (burglers) were nice enough to turn the water off from the main (lol). If they did not do that I would have needed to file a claim.
I have used http://foremost.com/ for our investment properties in the Philadelphia area.
That is who I used on my past flips. Their name keeps coming up repeatedly with my day to day dealings. I will probably use them in the future also as they were very easy to work with. Glad to see other investors are using Foremost.
Thanks for your input.
Do you have a specific agent that you work with at Foremost and would like to recommend, for Philly properties?
Also looking for insurance options ;-)
I have used Agency partners (foremost agent) in North wales . ask for dave or jim. 1-888-390-0818. I just talked to an agent before this post that has an office in the 19134 zip code.
I was speaking to Francisco an andre and I will be using them since they are a few blocks from my house. 2701 e. huntingdon st 267- 318- 7974 Andre S. Adams agency. tell them you just spoke to Joe today about investment property insurance.
What zip codes are you investing in?
joe i also invest in 19134 and i use allstate in ambler pa. they insured my first 4 then they had to switch me to their sister company american modern for the last two because i havent been with allstate for more than 4 years. im not exactly thrilled with them at this point. great customer service but the sister company is not that investor friendly
Good to know, I have been with foremost for about 2 years and they have been great,
I will continue to use them since I found a local Foremost agent and have a few years with them. Will be talking to the new agent Monday. Will find out how many they will insure and if so many years need to be earned before they will insure more.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!