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The Investor’s Guide to a Single-Family Rental Emergency Fund
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Insurance
HomeForumsInsuranceReasonable insurance for older buildings
Mike S's profile image
Mike S's profile image
Mike S
  • Investor
  • from Latonia, Kentucky
  • Member since Nov 23, 2012
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Mike S's profile image
Mike S's profile image
Mike S
  • Investor
  • from Latonia, Kentucky
  • Member since Nov 23, 2012
Connect
Mike S
  • Investor
  • Latonia, KY
50
Votes |
107
Posts
Insurance

Reasonable insurance for older buildings

Mike S
  • Investor
  • Latonia, KY
Posted Nov 13 2015, 07:12

I am having the worst time finding reasonable insurance for a three family built in the early 1900s. It's a nice building with new roof, hvac, electic, etc. Everyone says it's too old and quotes me an ACV policy of 350 to 700k for a building purchased for 80k.

So far my lowest quote is 2300 and highest is 3300. I'd like to close on this but I'd be making money for the insurance company and not me! Any suggestions? 

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