Insurance

[Andrew Martin]

I'm currently using safeco for my rentals, but I want to do some rate shopping. Any recommendations for a new insurance provider? Who is awesome with low rates?

[Account Closed]

It seems like this wall has sort of become a discussion between brokers representing multiple carriers and agents (state farm, farmers, etc) that only represent one company. I represent the multiple carrier type broker but want to provide my unbiased observations. 

For standard frame construction apartment buildings the state farms and farmers of the world tend to have better pricing with good deductibles and coverage. However, for more specialty risks (older buildings, recent claims, vacant coverage, builders risk, etc.) independent brokers generally can provide more tailored, better priced coverage. 

I would recommend finding a good independent broker and a good state farm type agent and have them both get quotes for you.  My firm has a number of property management clients who write their unique properties and firms liability and workers comp with us while writing some of their more standard properties with other agents.