All Forum Posts by: Sean K.

While I agree renters insurance may cover this if it is a known problem and it is documented I would tell your relative to call and see if they will pay expense.  I say this because all insurance is based on sudden and accidental loss.  If this is a known problem then it becomes a maintenance issue which insurance will not cover.

The key here is did the landlord or property mgr send anything in writing or notification about the problem.

Carlos every system department of insurance has lists of companies admitted to sell insurance but just b/c they are admitted doesn't mean they are actually "open for business".

As I've stated in a number of posts on forums it is always best to check with an independent agent as they will have the broadest carrier selection most of time.

You can try searching insurance news websites as well.  Insurance Journal is one that people reference.

Hello all,

I am an insurance agent in NJ.  So yes we are seeing companies I es that are putting moratorium on writing new business or raises rates considerably.  This is all contributed to from disasters nationally because this drives up cost of rebuilds/repairs in all parts of country.  This on top of supply chain issues and demand have seen building material costs increase as well.  So as a lot of people in the insurance industry have been saying it is like a perfect storm of cost increases and therefore it makes business less profitable.

The one good note I see in this big picture is that I beleive more regional and smaller carriers will benefit in non-catastrophic areas.  I myself have moved a nber of clients from large national carriers to more regional.mutual carriers.  The regional carrier is not affected by the catastrophic loses in others states which helps take at least one piece of the cost increase puzzle away.  They are only dealing with material and labor costs and not the actual losses from other parts of USA.

So if you are in a non-catastrophic area there is some light at the end of the tunnel so to speak.

For the catastrophic areas it will most likely take some form of governmental change that will allow companies to come back to area to be profitable.  We saw this in NJ in the auto insurance aprox. 15 years ago when a number of companies were either pulling out or putting moratorium on new business.  The government in conjunction with panel from insurance industry made changes and companies opened back up.

Hope that helps a little.

Yonia,

There is a lot more info we will need to get you an idea re. quotes.  Please reach out.

Ok so on LI.  If you email me directly I can see if some of my wholesale partners would be open to insuring.  I'll need some more info.

Matthew,

Where in NY?  It matters as NY is getting tougher to write insurance.  There should be a carrier that will allow it on one policy but why does your mortgage underwriter care how many policies are on the property?  As long as their interest is covered it shouldn't be an issue.

If you want to reach out you can.  We insure NY but again it might depend on where the property is.

Hi Tucker,

I am an agent in NJ.  I always suggest checking with local independent insurance agent association.  Here is link for FL 

Florida Independent Insurance Agents | Trusted Choice

Kaji,

I am an agent in NJ.  I always suggest checking the independent association of agents for your area.  In FL the link is: 

Florida Independent Insurance Agents | Trusted Choice

Hi Yonia,

I am an insurance agent in NJ.  You should be able to find 4 plex policy.  It is easier if it is owner occupied but there are carriers that are insuring these risks.  It also depends on where your property is located.  You have Monmouth County NJ so is the property within 5 miles of beach, 1 mile or less?  There are a number of factors that affect what carrier will write the insurance.  Feel free to reach out directly and I can help further if you like.

Hi Bruce,

I'm an insurance agent in NJ. I am not licensed in CA and not sure how their work comp rules work but in NJ if the contractor is a sole proprietor or a single member LLC they are NOT required to carry work comp. So these are your smaller shops with one person and they do everything. Once they have a W2 employee they are required to carry work comp. Whether that happens or not in the real world and they just are paying someone cash is another story. Of course that brings up the problem of if they do get hurt and they go to the hospital the hospital asks how they got hurt. If it was work related they look for work comp. If there is none it gets reported to state board and penalties ensue.

If you have work comp and you hire someone and they do not have it you should be covering that person.  As stated above before you hire someone ask them for a certificate of insurance.  This will at least give you an idea of what coverage they do have.

Talk to your insurance agent.  Assuming they are an independent agent and they sell commercial insurance they should know CA rules and deal with this all the time.