Shopping for a new insurance company
Hello Everyone,
I currently have 9 rental properties with Safeco. I noticed that my insurance cost increased a bit the last 12 months. An example is my last purchase in August of 2018. The insurance cost was about $670 for a 1973 3 bedrm, 2.5 bathroom 1420 sqft house. I am currently in the process of purchasing another similar town house in the same complex. The quote I got today was $800. Apparently there has been a $130 increase in the last six months.
I am looking for recommendations of good, affordable insurance companies. I prefer one that will give me some kind of discount for multiple properties.
Most Popular Reply
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
I’ve had good luck with allstate. My agent had to go to the company to get more than 6 rentals covered but I got a very good deal on the rentals, my home and the car. 20% off each policy for having al 3 kinds. My average is just under $600/year on $300k homes with 300/300 limits because of umbrella.
I’ve made 2 x $30k water damage claims (toilet supply liens broke in two different homes a year apart.) they sent service-pro to clear up water and prevent mold. Fixed everything and didn’t increase my rates. They even returned one deductible after suing the supply line manufacturer.