All Forum Posts by: Ben Guttman

Definitely look up my buddy Joseph Feldman with Prime Insurance. One of the best agents in NJ - very knowledgable and independent so he has multiple options.

What @Lance Lvovsky said. Registered Agents can handle most of the technicalities - in face many people use them simply so they can keep their privacy.

@Michael Cook 3rd vote to talk to someone local. I have some agents I could recommend. Also, would be interested in the age,square footage,and materials as a reason for the discrepancy between appraisal and reconstruction cost.

People complain to me about reconstruction estimates on brick row homes, but to replace it at today’s material+labor prices (massively inflated and not at the bulk scale as when they threw up blocks of them) as well as bring it up to code (assuming Ordinance and Law Coverage) really is different than market value.

@Marylin OShea I would definitely see if a bank local to there is willing to be more flexible. I’ve insured several deals for clients recently where using the “small town bank” helped. Congrats on the find.

@Oliver Perry I just insured a multi in VA for one of my repeat clients. Would be glad to chat 💬 and give you references.

@Ken Nyczaj I would highly recommend talking with Neil Roseman of LeadProbe.

Also, if you have any insurance questions for Multis that’s what I do - glad to help/ answer questions.

@John Korn I’d be glad to look it over/chat. Don’t like blindly pontificating on pricing without seeing what coverage are included or more importantly excluded.

Especially with investors the differential between purchase price and replacement cost is usually pretty wide because they are getting it below market value and the cost of labor and materials is constantly inflating.

Different carriers have their own Hangul s with flat roofs, but usually if they’ve been updated within the past 10-20 years it isn’t an issue.

@Randy Galliani look up Amanda Paris tell her I sent you. She is both a realtor and investor herself.

@Nyelle Johnson John is right. I’m in the office today if you want to talk to a human. I’ve written 11 Builders Risk policies this month - seems like it’s becoming very popular again.

@Aaron Moayed it is possible (can’t be sure without seeing the actual fine print) that “Personal Injury” is referring to adding/extending the liability coverage non- bodily injuries.

Personal Injury (PI) — under general liability coverage, a category of insurable offenses that produce harm other than bodily injury (BI). As covered by the 1986 commercial general liability (CGL) policy, PI includes: false arrest, detention, or imprisonment; malicious prosecution; wrongful eviction; slander; libel; and invasion of privacy.