@Justin Ullum I don't know any local providers, so it will probably take you calling around to find the best deal. Make sure everyone quotes the same thing so you can compare apples to apples.
Then with the insurance, make sure you have adequate dwelling coverage, make sure they know it is a rental property, think about adding a vandalism rider if you are in a B/C area, and also think about having rent loss coverage. I have had two property fires, and getting the lost rent covered was a nice perk!
Thanks for the info ... I will be calling around to compare rates
Originally posted by @Justin Ullum :
Looking for some some suggestions on insurance companies to insure a Triplex in Nitro, WV. Just trying to make sure I have a competitive rate. Also, does it have to be insured as a commercial building. Any feedback would be appreciated.
Your lender can give you a local name or two.
@Justin Ullum When interviewing your possible insurance agent I would suggest asking him how many rental properties he has insured and I always like to find like mind people to work with so I look for a professional that also owns rentals on the side. I would definitely make sure to get a replacement cost policy and increase your liability to 1million since it is a 3 unit you will want the extra liability.
I also agree with @Andrew Kerr Loss of Rents is a huge perk and should be on any landlord policy. You can call a local Farmers agent they have the ability to quote your property with a company called Foremost. Foremost is the largest insurance provider for rental properties and have a policy called the platinum package designed specifically for rental properties.
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