The Money Mustache Community
Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: Gin1984 on March 26, 2015, 09:54:13 AM
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We own our duplex and rent out half. I am just finishing up with grad school so we were thinking of moving to rochester instead of my husband commuting. That means renting out the half we are living in and getting landlord insurance. Liberty mutual would not cover us because the house is too old (1950) and travelers does not because we have a month to month lease. Where else can I find landlord insurance?
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Have you called any Independent Insurance Agents? Ours found us a very affordable policy through Auto Owners Insurance. Any agent will be able to find you something in your state as there are lots of rentals out there and all are insured (or at least most are). A few phone calls to find a good agent and you should be all set.
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Affinity.
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our 1925 duplex was empty when we bought it, State Farm covered it no problem. Our Triplex is 1914 and State Farm wanted too much so we used and Insurance Broker. They found a decent policy for us with Foremost Insurance...(I think that is the company name), the only mishap was that a Foremost Agent drove by the unit and called it "empty" and they dropped us with no notice, at the time it was fully rented so I am not impressed with them thus far. Not sure if they will make good on any claims or will excuse their way out. I am tempted to renew next year for the $600 extra with State Farm. State Farm has always been good to us, we insure our personal property, other rentals, primary residence etc with them.
I've never heard of age or lease requirements, it might be a regional thing...
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If you are eligible for USAA, try them. That's who we use.
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If you are eligible for USAA, try them. That's who we use.
No, I am not eligible for them, thank you though.
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I use state farm. It is a little more expensive on its own, but we have all our insurance for every property, life and our car insurance with them so we get all the multi-plan discounts and it comes out comparable to the others after that. Plus state farm is a full service firm. they would never drop me like that. I can walk into the office or call them on the phone and they know who I am and greet me by name. then again I live in a smallish town.....
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moving to rochester
If your Rochester is the one in New York state, we have found Leatherstocking Cooperative (out of Cooperstown) to be quite useful. We go through a local agent who also handles other companies (Nationwide, etc).
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moving to rochester
If your Rochester is the one in New York state, we have found Leatherstocking Cooperative (out of Cooperstown) to be quite useful. We go through a local agent who also handles other companies (Nationwide, etc).
It is, do you get an "credit" for referring new customers?