Multifamily Insurance Questions to Ask When Shopping for a New Purchase or Replacement Policy

  • What are some of the factors that will affect your policy costs? Age, location, etc
  • Does a pool increase your rate significantly?
  • How old can the roof be before the provider will refuse to cover it?
  • How important is it for tenants to have renters insurance, and does it provide a discount to owner if they require it?
  • What additional structures do we need to think about insuring? Carports, storage, etc
  • Fannie/Freddie require Minimum coverages and how they different from non-agency loans.
  • Explain ‘Ordinance and Law Coverage’
  • Business replacement insurance? 
  • Is it standard that an investor should expect to pay 10% more than previous owner?


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