Property insurance/landlord insurance.

Here’s the problem ( these property are in the State of Louisiana); AllState will only insured up to 4 rental dwelling property at the rate of $1153 per property/per year (duplex building counts as 1 property). The 5 fifth duplex quote from American Modern Insurance Group, a subsidiary of AllState. AMIG will not write a policy without wind and hail coverage; Fire and liability coverage is $2335 per year and wind and hail coverage is $874 (a total of $3209 for 1 property–that’s insane). These coverage will cost over $7000 a year. Where do you find affordable coverage for your investment property?

I already post this on another site but no response from investor who own 5 plus more property yet.

Any led would be much obliged.

WOW! You’re getting screwed! You must be in southern LA…I don’t have to have any additional coverages up here in the north!

I use USAA and they will only let me do five also. After that hey say I’ve crossed over to the commercial side.


I’m noticing insurance is becoming more of a racket than it was in the past. I just tried to get a $1MM umbrella policy and was told no, because my 18 year-old son has a ticket and accident on his driving record. That’s it, on our entire record. State Farm wouldn’t insure us a few years ago because a hail storm destroyed a roof and I put a claim in for replacement. I mean HELLO, why do we pay them?

I’m having to be a bit more creative to get general liability coverage now.

Your company sounds VERY expensive. My insurance broker doesn’t always give me the answers I want to hear but our rates are a 1/6 of yours. I need to call her today, e-mail me if you want me to see who she recommends for your area. I’ll ask her while I’m on the phone, perhaps you can get a better price.

I JUST dumped All State. They were a bear to deal with on claims last year after a killer hail storm (ALL of my neighbors were getting NEW roofs, and they wanted to tell me mine needed selected shingles replaced!) We’re talking grapefruit sized hail!

I’ve had GREAT luck with Farmers in more than 1 state. Their rates on single family rentals is as much as half of what other quotes were running. They BLEW Allstate out of the water on our home and autos, too.

Then I just found a rockin’ commercial policy with Nautilus on a 3plex and 4plex we’re buying. GREAT coverage AND their rates were a good 25% less than the next closest quote (1/2 of some others) and for WAY MORE coverage!!

I’ve found the key is to just keep calling and calling for quotes.

Karla in Amarillo

Look for an Independent Insurance broker, one who represents many different companies not just one. Allstate & Farmers (west) are Direct writer’s, meaning they only write their policies through their own agency force.

Try my friend Al Pappalardo in New Orleans -

Tell him I sent ya! (I’m an Independent Broker in NY State)