All Forum Posts by: Tony Wilcox

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.

4+ unit habitational homes are getting much harder to insure. Many carriers have backed out. I did shoot you a DM of a couple I think could help you that isn't listed above.

Do you know if they are leaving that type of market or is the carrier non-renewing for another reason? Maybe roof age or other u/w reasons.

I agree with Owen. You want an agent that will go through the main coverages with you along with the optional coverage to see what aligns for you personally. Every investor is different on what they want covered, so really you just need a good agent who will discuss the coverages with you when you set up the policy. 

Most carriers don't want to insure a building as a normal rental home if there is a possibility of commercial use, or even if it's set up to possibly be used as commercial even. You will need to look at a commercial policy for this.