I presently have insurance with SafeCo for my four multi-tenant rentals in MN. Rates just went up $2000 this year (all four combined). That’s $2000 down the drain that I will never recover in rent increases.
Anyone have experience with insurance companies with good coverage, acceptable rates, and good service (that don’t jump rates after you’ve been with them one year).
BTW, I carry $2500 deductibles and have had no claims. Well maintained buildings, too.
Thanks for the input.
DIA
Replies
We have all of ours through Allied. My business insurance and commercial building stuff is through Erie. DanT
I think a good agent is better than a specific company. If you have all your insurance with one agent, they can usually work out discounts and make recommendations to fit your needs.
Beat it to fit / Paint it to match
this is my biggest problem in rentals now.
i have state farm on most. 1% deductable ]110k house,1000 ded.]plus deprciation on wind and hail.
got a couple with shelter,lower premium, deprication,not replacement cost
just signed up 3 with farm burea. 1000k ded, replacement cost
seems everyone is shying from rentals.
just canceled farmers,increased about 40% this year.
the older i get ,
the more people tick me off
I'm happy with State Farm.
I pay $949/yr with $1000. deductible.
They paid $6500 toward an $8000. roof replacement due to hail damage a few years ago. This on a large four family in Norwood (Cincinnati) Ohio.
giving this a bump,see if anyone else has ideas.
the older i get ,
the more people tick me off