Insurance Company Recommendations for 3 Family in NJ?

5 Replies

Can anyone recommend an insurance broker to get insurance on an owner occupied 3 family property in Hudson County New Jersey?



There are many companies for an owner occupied 3 family in NJ.   The age, condition, proximity to the coast, claim history, and other factors will impact which company can provide the best mix of coverage and rate.  I would recommend finding an Independent Insurance agent that represents multiple companies so they can do the shopping for you.   If you can find one that also handles commercial insurance (specifically construction) that may help later if you get into flipping.  If you have issues because the property is too close to the coast PM me.  I can let you know a carrier that can write the coastal properties. 

Thanks @John Mocker .

I have been having issues due to proximity to coast, even though this property is elevated very high above the water table and nowhere near the flood elevation. I had 1 insurer who wouldn't insure due to proximity to coast, another that doesn't do 3 family. 

I have 2 quotes so far, one for $3600 and one for $5700 - both much higher than I expected. I have a two family just a few blocks away that is insured for under 1k.

I was hoping to get some recommendations for companies that specialize in commercial properties.I will be living in one of the units but Ive been told it still needs to be insured like its commercial. I've already tried State Farm, Farmers, Allstate & Liberty....

Hi Mala,
Did you try Muller Insurance in Hoboken?  I'm not 100% sure about Commercial insurance, however I think they might cover that

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@Mala S. reach out to Jason Hall at WH Rhoddy Insurance in Bloomfield.  He's a broker so not chained to one insurance carrier.  He's great at matching the best carrier to each property.  There are carriers who specialize in 2 family, separately than those who do 3 family, 4 family, etc.  He can be reached at 973-771-3028.

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