Back Mixed Use LRO

Need a market for a client who owns a "mixed use" property.

There are 6 habitational units among 5 buildings. Insured rents the units to 1 individual who houses individuals who are in startup stages of new businesses in which he invests. They get their business plan up and running and then they move out. This individual has been renting all units continuously for 10 years.

Insured previously with State Farm who pulled out of California. We wrote this first in December. Things were fine however it was discovered that there were some additional buildings our carrier was not aware and they cancelled mid-term. Insured advised us that they were storage and they didn’t want to cover them. The single renter also built an office. Regardless of this, our carrier was no longer interested. Need a market to consider without these buildings? Or would take on the risk if insured takes these small utility buildings down.

There is no manufacturing or high hazard exposures.

Good question. We have had difficulty placing mixed use commercial with some residential for habitational liability and property. We'll be interested in any responses that offer carrier/broker coverage appetite.

You might want to try First Connect - it’s a platform that gives independent agents access to 130+ carriers, including several that write non-standard or light-commercial mixed-use properties in California. You can sign up here: 👉 https://info.firstconnectinsurance.com   Once you're in, you can use their Appetite Finder to search carriers that may consider mixed-use rental risks like this, even with unconventional arrangements, as long as hazards are low and details are transparent. Worth a look given the current market limitations.