Rental Dwelling Insurance...
Hi there, I gather that if you own a home that you don’t live in and rent out that you require rental dwelling insurance rather than home owners insurance. We’re about to buy this kind of property and I’m wondering what one would want in terms of the minimum coverage on a single family home,…
Hi there,
I gather that if you own a home that you don’t live in and rent out that you require rental dwelling insurance rather than home owners insurance.
We’re about to buy this kind of property and I’m wondering what one would want in terms of the minimum coverage on a single family home, and was also wondering if anyone can recommend a good, affordable provider.
Thanks for your help.
The property is deemed to be a commercial property if it is not owner occupied. You should have a commerical property/ liability policy. These policies are usually a little more expensive than a standard homeowners policy, but also offer loss of income (rent) and commercial liability. I am an independent broker and would be happy to help you search for a company. Pricing really depends of the size and construction of the building in addition to desired coverage.
William Smoltino
Narrows Insurance Agency
718-745-1500
state farm. they usually have a decent standard liability limits as well.
Call Chuck Chernick of the Arthur Chernick Company. I refer my clients to him all the time and they always use his services for it.
Chuck Chernick
(212) 697-2147
Jim Hill, RA, LEED AP
Urban Pioneering Architecture