All Forum Posts by: Owen Rosen

I am currently under contract on a property in Cincinnati (du-plex) & am looking for insurance broker.  If you have an insurance broker that you'd suggest please pass them along🙏

Does anyone have any reccomendations for home owners insurance in Humble/Atascocitas shores Area? I got a quote for $3100 per year for a 2400 sq ft 1980 built house which seems very high.

I got two insurance quotes for the same property. The replacement values are drastically different, and so are the premiums. I would like to find out what are some good websites with calculators you use to calculate rebuild cost, so I have a better idea which replacement value is reasonable. Thank you! 

This property is located in Lafayette, IN. Especially on an apartment building, are there any ideas of difficulty to insure? If so, is there a best recommendation for the removal/deactivation of the wiring? I do not anticipate a complete gut job and rewire, but there is some potential existing above only one unit. I understand that this can sometimes lead to more wiring than was initially expected, so I need someone who is up for the challenge and at a price that's hard to beat!

The presence of the wiring was noted a week or so after we were in contract, but I also assumed from the start that it may come up on inspection due to the age of the property, and its location. I know that the appraisal may work to my advantage as well if they flag it. I have already budgeted $25k for repairs on the property, but this was not one of them. My main concerns are health & safety, along with the ability to insure the property for $300 or less per month. This is a 4-unit built in 1915, that was converted from a large single family initially. PP is $250k, with a fixed 7.7% interest rate for 30yrs. Goal is getting rents to market at $950+/unit. The appraisal and inspection are both taking place today, and I expect to review them either tonight or early tomorrow morning.

am working with them now and had the first policy (with Spinnaker) cancelled for nonpayment/late payment so we rewrote another policy (with Millenial) and having the same payment problem again but at least they are communicating that cancellation is coming. they want me to pay by credit card over the phone so the payment wont be late and cancelled again. but when i go to mycoverageinfo.com to check on status it shows its been paid.

Does anyone know if a tenant living in a non-conforming basement unit can get renter's insurance?

So I'm going to be renting out a condo in California on Airbnb. Condos are difficult and expensive to insure here. The HOA offers enough protection for the unit itself and Airbnb claims to offer $1m liability protection. What is the consensus on Airbnb's insurance? Can you trust it if somebody sues you? Does it provide protection between stays? My gut tells me I need my own liability protection--I'm in business with Airbnb but don't exactly fully trust them--but like I said, it's difficult and expensive to obtain. Thoughts?

Get an umbrella liability policy.  They are written off your personal residence.