All Forum Posts by: Owen Rosen

Hey all, working through closing on my first investment property, a 4-unit househack in central Wisconsin priced around $400k. Any recommended providers I should run quotes through for homeowners insurance? I have quotes from some of the bigger names (Progressive, Farmers, Liberty), but curious if there are any others I should take a look at before making a decision. Thanks!

 Yes, thank you.  I have private flood insurance myself but I have never found a short term rental insurer that has offered flood coverage as well.

A couple of others here said something similar. When I looked at Proper Insurance (their rates were extremely high), by eliminating the wind coverage they said I would not get loss of income if it was related to wind. One of the reasons I choose STR coverage is to include loss of income. But I do believe if it was flood, it wouldn't matter since flood is through the NFIP. I would call your agent or the insurance company but I suspect it has a similar clause to Proper that if you don't get the wind, you don't get the loss of income if it's due to wind. But since you said Helene was a flood damage, you might be able to use that first to get the coverage.

No problem @Jarrad Chabria!  

Another company that may be worth looking into is Steadily. They were one of the sponsors at BPCon2024 and claimed to be a Landlord Insurance provider.  I have not used them personally though.  @Adam Kraft

I have quite a few STR's that were decimated by flood/storm surge with Helene, and then Milton came to finish the job with wind. All of them are uninhabitable. It will take many months to remediate and rebuild. These are my primary source of income. I'm self employed, no other "job"

I have STR insurance policies that show a line item for Loss of Business Income. Does anyone know if I qualify for this, if I don't have flood or wind coverage with the insurance company.

If anyone else is in the same boat, feel free to connect. I was already well into the remediation policy after Helene on 4 units, now picking up the rest of the pieces. 

TIA! 

I have a lower priced 4 unit ($265k value) that is held in an LLC and am currently paying $2200 a year on it. Does this seem reasonable ideally I could insure it for value vs rebuild cost? It's in midwest where insurance rates normally lower. Any recommendations for good investor friendly agents I can shop the rate with? Appreciate it!

Hey Yall - looking for an insurance quote on a rental investment in bridgeport CT. Need something ASAP

Closed and now have the keys in my hand. Meeting some people tonight there to create a scope of work and do some additional discovery. Thank you to @Owen Rosen for helping me with the insurance on this one. Definitely will be moving my other rentals over to him. 

Looking for an insurance company or agent to insure my 1853 3-family rental unit. Current carrier can no longer service the property and I need a replacement policy for around $1,000,000. Can anyone recommend or help?

Thanks, I already tried State Farm, will contact Obie insurance