Indianapolis insurance ACV companies

[Ray G.]

Hi Everyone,

In the process of buying a quadplex and a triplex in Indianapolis and i'm having a problem finding insurance companies that will respond or provide a decent estimate.

I've been reading the forums for some time and many people mention the cheap prices they are getting for insurance but the quotes i'm getting for ACV of my deals are around 1900 to 2000/yr and at those prices it really kills the cashflow.

What insurance companies are people having good luck with?

Thanks in advance for your input!

[Account Closed]

When I started buying rentals in Indy it was easy to get insurance for about $400-$500 per year to cover SFR. Over time the rates kept going up until they had almost doubled a few years later. Finally I connected with a commercial insurance broker and got a policy to cover the entire portfolio and the cost came back to $400 per unit with much higher coverage limits and including umbrella. The point is residential insurers hate the rental market. You need a commercial insurer. On the side note I think all insurance is a borderline scam. They never pay easily and keep raising your rates if you ever make a claim and often if you dont. If my bank didnt require it I would carry liability only and self insure the portfolio. For 10 years of premiums I can replace an entire home. I dont think I would have one home burn down every 10 years!