Insurance for hard to insure mixed use property in Baltimore,MD

8 Replies

My first home purchase will be a house hack and I’m having trouble locating an insurer.

Details of property:

3-unit

Mixed use

Ground floor is a hair salon

Other two units are residential

I will live in one of the units

I can’t understand why this is an issue to insure. Any insight or recommendations of brokers/insurers?

Regardless of the entity (individual or corp) owning the building, it will most likely be placed with a commercial insurance carrier due to the hair salon. But there may be a "weird" carrier out there willing to write this on a homeowners policy, but those are rare nowadays.

@Stephanie Barthelemy here are some of the reasons you are running into an issue.  

If you are using a loan structured for a primary residence, that loan requires a Homeowners insurance policy, not a commercial insurance policy.  

Most Homeowners policies will not insure a commercially zoned property or one with a retail storefront open to the public.

There are many insurance carriers willing to insure this, but it would be under a Commercial policy, not a Homeowners policy.

Good luck with it.