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Landlord insurance policies for your rental properties
Posted on 8/11/13 at 12:13 pm
Posted on 8/11/13 at 12:13 pm
I feel like I can do way better than this policy I have ...I was rushed when I had to get it last year...can anyone share with whom they have a policy with and any general advice on coverage, etc...thanks
7
Posted on 8/11/13 at 2:19 pm to Zilla
I had ASI Lloyd's in the past
Posted on 8/11/13 at 6:58 pm to Zilla
We almost always use Cincinnati.
This post was edited on 8/11/13 at 6:59 pm
Posted on 8/11/13 at 7:30 pm to Zilla
Do you have an umbrella policy?
Posted on 8/11/13 at 7:30 pm to Zilla
Do you have an umbrella policy?
Posted on 8/11/13 at 8:27 pm to Zilla
I use a commercial Policy for dwelling and premises liability.
I use Affinity/national real Estate Insurance Group.
great coverage and great prices.
Includes all kinds of things and hazards...
I use Affinity/national real Estate Insurance Group.
great coverage and great prices.
Includes all kinds of things and hazards...
Posted on 8/11/13 at 10:27 pm to Fat Bastard
quote:
commercial Policy
is that something I could/should use for just 1 rental house?
Posted on 8/12/13 at 12:16 am to Fat Bastard
quote:
Includes all kinds of things and hazards...
Bet it doesn't include coverage for terrorism, pollution, floods, riots, nuclear attacks, tidal waves, earth movement, your work, etc... The amount of hazards excluded from coverage under a typical commercial general liability policy can be pretty eye opening.
Posted on 8/12/13 at 6:58 am to Zilla
quote:
is that something I could/should use for just 1 rental house?
sure, do not let the "title" of what it is called fool you. It is used for residential properties as well.
Posted on 8/12/13 at 7:16 am to RushTigerLimbaugh
quote:
coverage for terrorism,
you really think I need that? For my homes where they are? really? I'll take my chances on that.
quote:
pollution,
now you are being silly quote:
floods
Not in a flood zone, not needed
quote:
riots,
I'll take my chances
quote:
nuclear attacks
again, see#1
quote:
tidal waves
see#1
quote:
earth movement,
Not in earthquake zone. It covers hurricanes, tornadoes and many other things, too many for me to even remember. It is on special form so I have all the coverage I need and then some actually.
This post was edited on 8/12/13 at 7:18 am
Posted on 8/12/13 at 8:27 am to Zilla
If the house is on good shape, ASI will be hard to beat. They are a little tough on initial inspection though.
Posted on 8/12/13 at 9:49 am to Zilla
If you only have one rental property, just add it to your homeowners. When you get two add the second to the homeowners of the stand alone. Has worked well for me.
Posted on 8/12/13 at 10:02 am to Fat Bastard
quote:
pollution,
now you are being silly
Don't laugh; there has been a ton of litigation over the pollution exclusion, which the insurance companies have defined way more broadly than you might be thinking.
Posted on 8/12/13 at 10:52 am to StrangeBrew
quote:
If you only have one rental property, just add it to your homeowners. When you get two add the second to the homeowners of the stand alone. Has worked well for me.
from everything I have read, this is a bad idea
Posted on 8/12/13 at 2:21 pm to Zilla
I think thw only real problem here is exhausting limits
Posted on 8/12/13 at 3:13 pm to Zilla
quote:
from everything I have read, this is a bad idea
please tell the reasoning,
If you have not set up a LLC or LP you are tied to the rental.
Not saying there are not draw backs but it has worked well for me 8 plus years.
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