Commercial Insurance
[deleted]
[{"id": "g1y5n1s", "text": "You don\u2019t want an agent that is good at writing a ton of dp3\u2019s or land lord policies. You need an actual agent that has lots of experience with writing policies for accounts with 20+ properties. Savvy agents can write some amazing commercial policies. \n\nFinding a savvy agent was your question ... try following agents that are in your circles on LinkedIn and agents that participate in your Facebook groups. Don\u2019t reach out. See if they\u2019re full of crap and are actual leaders in their field. What state?", "replies": [], "depth": 1}, {"id": "g20mbo3", "text": "Speaking as a landlord and ex-loan officer, when obtaining insurance for my properties, I usually just have an insurance agent that I trust to be able to get good pricing for policies. The most important thing is to make sure that you are covered for the full insurable replacement cost and that you are comfortable with the liability coverage. Also, your lease agreements may have limit requirements for insurance coverage.\n\nAs for whether banks typically look for evidence before they underwrite a loan. I never asked before underwriting, but evidence of proper insurance will be needed before closing the loan. Usually, the building coverage would be in the amount of the full insurable replacement cost or loan amount.", "replies": [], "depth": 1}, {"id": "g20n6en", "text": "Evidence of insurance is not typically part of the underwriting process, but mandatory for a property to close. The bank needs to see that any insurance proceeds are to be paid directly to them versus the property owner. This is non-negotiable.", "replies": [], "depth": 1}]