Looking for Home Insurance in Massachusetts

5 Replies

Hello BPers,

Looking for an insurance agency or carrier to help out with my multifamily. 

I have a few buildings in the Massachusetts area: some 4-plex and 6-plex.

I used to have NREIG / Affinity carrying my whole portfolio. 

They just went up 30% on my whole portfolio. 

I never had a claim with them before, and always pay my due appropriately via auto-payment. 

So I am exploring my option to see if there is anyone out there that can help me out.

Thank you for the reference

@Chan K. I've got three different carriers. They seem to only take 4 or 5 properties each. I'm not happy with them and have my Dec Pages (redacted prices) out for a review.

What do you have for coverage?

I used to have $250 deductible and $300,000 personal liability. No claims like you. I changed them to $1000. deductible and $1m liability. Same price!;-)

You can PM me,

[email protected] dot net

I'll give you my carriers contacts and if Julia gets back to me with a new quote I like, I'll forward that also.

Not good, those MoFos jacking your premium 30%:-(

@Chan K.

by the bye,

you may want to put a crew together, Plumber and Carpenter, to check and correct anything under the kitchen and bathroom sinks. When I change Insurance carriers they want a photo of those areas...

@Mike Hurney looking slick with the suit. Long time no see. Wow, you are still really active on here. Oh by the way, I like the newsletter thing you guy been having, professional.... definitely got NWLA attention

In any case, thank you for help. Will PM you later.

Yeah, they pulled out some bs about changing carrier. I am pretty sure there are a lot of claims coming to them from North C. Hence, that has a ripple affect across the board, and other people ended up carrying the burden. I would not mine 5-10%, but 30% is bs. I have been with them for a few years now. They are pretty low key with their inspection... It is like, pay and go. I don't know about that Mike, inspection every unit and plumbing like that for your guy.. probably annoying all the tenants. Let alone coordinating all the access for every tenant like 20 units. Not sure how you cop with that.

3k deduction on 1M liability. 

$300k, is that too little for multi? Your deduction is not bad.

I do have another agency that I work with, he usually only inspects the basement and common area. The only issue is, a bit unreliable. If I call or email him, he always seem to be on vacation coincidentally.  I would not hear anything back for a few days.

Chan,

Most Insurance companies have a Personal Insurance division and a Commericial Insurance division.  Normally, 5+ units has to go commercial.  You can write the 4 & under properties commercially but often the pricing is better on a Dwelling Fire policy in the Personal Lines side of the company.  Also, the condition, claims history, age, proximity to the coast, etc.  all can impact which Insurance company will give the best combination of coverage and cost.  You may need either a large agency with many markets in both commercial and personal insurance.  It may end up that you need multiple agents.