Looking for Better Insurance Quote – 12-Unit Apartment Complex

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Looking for Better Insurance Quote – 12-Unit Apartment Complex

Aj KhanPro Member
Rental Property Investor · GA · Member since 2015 · 16 posts · 1 vote

Looking for Better Insurance Quote – 12-Unit Apartment Complex

I own a 12 units apartment complex and am currently shopping around for better commercial property insurance coverage and pricing.

I’d appreciate recommendations for insurance brokers or companies that specialize in multifamily/apartment properties and are competitive on premiums.

If you own multifamily properties and have had a good experience with your insurance broker, please send me their contact information or DM me.

Thanks!

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  • Owen RosenBusiness Member
    Professional · Clinton Township, MI · Member since 2015 · 683 posts · 259 votes
    1mo

    Where is the property located?

    Royal Oath Insurance Group4.9203 Reviews
    WebsiteView Page
    0Reply
  • Aj KhanPro Member
    OP
    Rental Property Investor · GA · Member since 2015 · 16 posts · 1 vote
    1mo

    Sumpter twp, MI

    0Reply
    • Owen RosenBusiness Member
      Professional · Clinton Township, MI · Member since 2015 · 683 posts · 259 votes
      4h

      Michigan is a challenging market for multi-family. There are only 5 or so admitted carriers for a 12-unit property in Michigan.

      Perhaps another 5-10 when you throw in surplus lines.

      However, depending on the property that number could shrink to 5 or so total based on the building characteristics.

      Royal Oath Insurance Group4.9203 Reviews
      WebsiteView Page
      0Reply
  • Nick Lynch
    Insurance Agent · Sacramento, CA · Member since 2021 · 1 post · 0 votes
    17h

    Hey Aj - I am a commercial insurance agent with lots of experience covering apartments, lets talk about your current coverage and see if there is room to improve. Just shot you a connection request.

    0Reply
  • Jacob Berkovitz
    Insurance Agent · New York, NY · Member since 2026 · 2 posts · 0 votes
    16h

    Aj, for a 12-unit the number mostly moves on the usual underwriting list: roof age, when the electrical, plumbing and HVAC were last updated, 5 years of loss runs, and whether the building limit matches real replacement cost (a lot of "expensive" policies are just over-insured on the building value, and a lot of cheap ones are under-insured). Before you compare quotes, line up the same deductible, the same valuation (replacement cost vs. actual cash value) and the same liability limit, or the prices mean nothing next to each other. And ask whoever quotes it to market it to several carriers at once rather than one company's number; a 12-unit usually gets 3 to 5 real options that way.

    I'm a licensed P&C broker (JM & ADA Associates) and multifamily is most of what I place. Happy to shop it for you, just message me here.

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