A couple of months ago, I got a letter from the insurance company I've used since I opened in 2013, saying effective June 15 they will no longer insure nightly rental properties. I contacted my local insurance agent, who had handled my policy all these years, and asked them to find me another insurer by June 15. I have always paid about $7,000/year for my building and liability insurance.
In the mean time, I checked the recommendations here. Gillum recommended Erie, but I found they don't write insurance in my state. I finally ended up with a company called Proper, and got MORE coverage than I've had before, for just $5,918!! So it's more coverage for over $1,000 less than I've been paying for years! I signed immediately.
Yesterday I finally heard back from my local agent, who said they had finally found a place that will insure a building as old as mine (1902) for $12,000!! I thanked her for checking, but told her I'd have to pass.
Of course it helps that my 1902 building was completely gutted and rebuilt inside in 2012, with all new plumbing and wiring, new heat and air, etc., and a fire sprinkler system added. The one that quoted $12,000 didn't even ask how old my wiring and plumbing is.
Anyway, thought I'd mention Proper Insurance in case it helps someone who stumbles onto this old insurance thread.
