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Survey of Insurance Costs for Multifamily Buildings
This report, authored by Dr. Pieter VanderWerf and Nicholas Haidari of Boston College provides the results of a survey of insurance costs for both wood-frame and concrete buildings. All insurance quotes showed the concrete building less costly to insure than the wood-frame building. Some insurance agents suggested that the gap between rates for wood-frame and concrete is likely to grow in the future and that a growing number of insurers are declining to serve as sole insurer for wood-frame apartment buildings.
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