All Forum Posts by: Nathan Williams

Hello

I am looking to connect with Real Estate agents in the Burlington area (from Burlington to Waterbury to Stowe, etc.). Thank you

Nathan

Hello,

My policy premium recently doubled on a 5-plex I own in Birmingham. The agent has tried their best to find an alternative but we have hit a wall. One main issue is that I have only owned the property for 3 years and don't have any records of updates to electrical, HVAC, plumbing or roof.

I'm curious to see if anyone out there who provides coverage for a small commercial building can help?

Thanks!

Nathan

Hi @Account Closed - I had my carrier cancel all policies and rewrite them in the name of the LLC. It was overkill according to them but something I felt more comfortable with. Hope this helps and good luck!

@John Bradley 100% yes

Hi All,

I've read some previous posts on this same scenario but I am still not understanding the right way to structure/approach this.

I did a quit claim deed on my properties to an LLC. I own them outright.

I want to switch the insurance policies over as well. My agent is recommending that we can add the LLC as an additional insured as opposed to canceling and rewriting the policies as the Name Insured.

Something doesn't feel right about this. I've been very diligent about setting this up to not co-mingle funds or my name whatsoever. Would this pierce the veil? What do you recommend?

Thanks!

Nathan

Hello Ethan,

Check with Kyle Conrad with Progress Bank.

Thanks,

Nathan

Hi

This is a super last minute need but I am set to close on a 5 plex in Birmingham today. My other insurance options did not work out and I am scrambling to find coverage. Can anyone help with a contact that can move on this quickly? 

@Frank S. It's my own house I am not a realtor. That is the thing that is mind boggling - They didn't bother asking for anything they just walked. Thanks for the information!

Thanks all for the helpful comments

@Frank S. Thanks for your reply. I've talked to over a dozen plumbers and the opinions are so mixed on whether this test hurts the system or not. I honestly don't care to debate that since it isn't productive at this point.

Of course I want to sell the house and of course I will either disclose this or repair it. I don't have a choice. If I didn't disclose or repair it that would be a legal and ethics issue from my side. 

My issue is that had the buyer's followed the proper protocol and followed the contract, I would have let them perform the test. Then we could have come to a solution. They want the house and I want to sell the house. It would have been a matter of negotiations. Instead, the buyer's agent jumped the gun, did the test without my permission, didn't explain the options to the buyers and they terminated. 

I hope you can understand why I am frustrated and how this is not just a matter of pride.