All Forum Posts by: Tony Wilcox

 The older homes usually require some sort of updates to the plumbing/electrical to get a decent rate if you are wanting replacement cost. Always good to get a 4 point inspection and wind mit to max discounts. Cost is only around $150

That is a unique risk. You will want to make sure you are covered correctly! I shot you a DM as there are most likely a few different options to consider.

 There isn't any negotiating on an insurance policy rate. The rates are made by the carrier and that's just what they are. I know of a few options in the area if you want to send me a DM

Your agent should be able to give you a clear answer on this. If not you might want to seek a different agent. Typically homes in-between tenants, or a new purchase with intent to have renters within 30 days this is allowed. 

For 8 units it can be a bit harder. I would consider a surplus lines or commercial policy.

What is the level of damage? Feel free to message me separately if you'd like. 

I stressed fully updated because you don't get a discount for having partially updated plumbing, electrical, or HVAC. 

Insurers cannot say a home was built at a newer date even if the house was taken down to the studs. The entire foundation also has to be redone to be considered newly built. Of course you can get discounts for having certain items FULLY updated, like plumbing. 

In that part of Texas the wind deductible's are all moving to a percent of the dwelling coverage. There are some options at lower deductibles but trust me you will pay for it!

If that is full RC for roof and home that is a good price for that area! I would consider adding loss of rents coverage.