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139
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Benjamin Timmins
  • Real Estate Investor
  • Troy, MI
23
Votes |
139
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Insurance on multiple unit building when you live in one.

Benjamin Timmins
  • Real Estate Investor
  • Troy, MI
Posted

If you live in one of the units in a multiple unit building you own, do you still want landlords insurance? Or would you go with home owners?

Most Popular Reply

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168
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Eric Belgau
  • Insurance Agent
  • Olympia, WA
88
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168
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Eric Belgau
  • Insurance Agent
  • Olympia, WA
Replied

@Benjamin Timmins Don't get caught up on names like "landlord insurance" and "homeowners insurance." You need a policy for a multifamily policy, and you need coverage for your personal property that's in it.

Just open the conversation with "I need coverage for a multifamily building, and I'm going to occupy one of the units" and let the agents do their jobs. Get a few quotes, though, and definitely include a quality broker in your search. Lots of factors can affect the premium cost and the details of the coverage for a multifamily building.

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