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Started By
Message
Any MS Insurance Agents on here?
Posted on 10/24/23 at 6:13 pm
Posted on 10/24/23 at 6:13 pm
Amazing what it takes to get a simple policy quote - anybody here write in MS? It’s a small policy I need on a fix/flip but I need it for Friday. Email me and I’ll send you all the information. Thx! Lnobles@redstickag.com
5
Posted on 10/24/23 at 7:44 pm to Im4datigers
quote:
I need on a fix/flip
quote:
to get a simple policy quote
It ain’t as simple as you want to think it is though
Posted on 10/24/23 at 7:51 pm to Chad504boy
Yeah I know. I get it. But I’m literally on agent 6 of being ghosted. And that’s after not even sending me a quote.
Posted on 10/24/23 at 8:51 pm to Im4datigers
Not in MS, but…
quote:you’re probably having a hard time getting a quote back because a lot of agents aren’t going to be interested in writing those kinds of policies unless you have multiple other lines of business with them. Juice just ain’t worth the squeeze on a short term policy that’ll only be on the books a couple of months
small policy I need on a fix/flip
Posted on 10/24/23 at 9:38 pm to Im4datigers
Simple and flip/Reno policy doesn’t go together
Posted on 10/24/23 at 9:42 pm to Im4datigers
Where’s it at in MS?
Email me info
Reginald at coastalalabamainsurance dot com
You need a builders risk policy.
Email me info
Reginald at coastalalabamainsurance dot com
You need a builders risk policy.
Posted on 10/25/23 at 9:09 am to BamaCoaster
quote:
you’re probably having a hard time getting a quote back because a lot of agents aren’t going to be interested in writing those kinds of policies unless you have multiple other lines of business with them. Juice just ain’t worth the squeeze on a short term policy that’ll only be on the books a couple of months
Completely get it. They’re only making 8-12% of the premium and as you said, it’s going to be paid off shortly anyway.
Posted on 10/25/23 at 9:12 am to Im4datigers
quote:
it’s going to be paid off shortly anyway.
what does this mean exactly?
Posted on 10/25/23 at 9:23 am to Im4datigers
Dear Mr Nobles:
Possibly you should change your discussion points when attempting to procure insurance coverage for the subject residence. Represent to the potential agent that you are wishing to purchase, then renovate, and ultimately use the property as a rental. A version of the definition of insanity is doing the same thing repeatedly and expecting a different outcome. Your zero for six indicates a trend.
Good luck in your endeavor.
Sincerely yours,
M. Füt
Possibly you should change your discussion points when attempting to procure insurance coverage for the subject residence. Represent to the potential agent that you are wishing to purchase, then renovate, and ultimately use the property as a rental. A version of the definition of insanity is doing the same thing repeatedly and expecting a different outcome. Your zero for six indicates a trend.
Good luck in your endeavor.
Sincerely yours,
M. Füt
This post was edited on 10/25/23 at 9:24 am
Posted on 10/25/23 at 9:44 am to soccerfüt
Hey fricktard, want me to send you the email I’ve been sending out? Very detailed and precise. It’s not rocket science.
It’s just a combo of lazy agents and not a big policy to write. I get it 100% but it doesn’t help my need to get insurance on a property. Thanks again for the useless comment
It’s just a combo of lazy agents and not a big policy to write. I get it 100% but it doesn’t help my need to get insurance on a property. Thanks again for the useless comment
Posted on 10/25/23 at 9:50 am to Im4datigers
good luck on the 0-7. willing to bet this really doesn't fit the criteria of a builders risk neither. 
Posted on 10/25/23 at 12:14 pm to Im4datigers
I'm reminded of the dude who said he had to move a bunch because everywhere he lived the neighbors were always assholes to him.
Good luck (being you).
Good luck (being you).
Posted on 10/25/23 at 1:42 pm to soccerfüt
quote:
good luck on the 0-7. willing to bet this really doesn't fit the criteria of a builders risk neither.
Seriously, not being a smart arse, but it can’t be that hard to put some kind of policy on it, builders risk, vacant home etc. It’s a 3b/2b townhome
Here’s my email to them, enlighten me what I’m missing
Personal Info:
1. Full Name: ******
2. DOB: *******
4. DL#(s) ******
5. Physical Address *****
6. Phone Number(s) ******
7. Email Addresses: ******
Home(s) Info:
1234 Smith road Mayberry Ms Investment property
1. Year Built: 1981
2. Sq Footage: 1250
3. Roof Type: architectural shingle
4. Roof Year: 2021
5. HVAC Year: 2016
6. Mortgage Co. Forthcoming......I'll be paying cash on friday for the property for $70k. Total as completed value is around $145k. We will be doing a fix and flip so it’s currently and will be vacant. most of the work is lipstick on a pig more or less. No movement of walls, plumbing etc. etc.
Posted on 10/25/23 at 3:03 pm to Im4datigers
Its not that your email is missing anything.
Builders risk / vacant dwelling policies are generally something that has to go through surplus lines (non-standard) markets instead of admitted (standard) markets that your regular homeowners or rental dwelling policies would be written through. I could quote and bind multiple admitted market policies in the time it takes me just to get a quote back for a surplus lines policy. And those admitted market policies will likely renew at an 80-90% rate compared to a renovation policy on a flip that's 3x as much work and won't be on the books more than probably 6 months.
Most agents don't want to deal with the hassle of going through the surplus lines market for a short term policy if you don't have other policies with them (personal residence, rental units, car insurance, commercial policy, etc).
Are you working with a realtor on this purchase? Most realtors have an insurance agent they refer clients to regularly. An insurance agent that gets a bunch of referrals from your realtor would probably be more inclined to do it as a favor to the realtor that feeds them business. Probably have better odds that way than just randomly calling or emailing agents.
Builders risk / vacant dwelling policies are generally something that has to go through surplus lines (non-standard) markets instead of admitted (standard) markets that your regular homeowners or rental dwelling policies would be written through. I could quote and bind multiple admitted market policies in the time it takes me just to get a quote back for a surplus lines policy. And those admitted market policies will likely renew at an 80-90% rate compared to a renovation policy on a flip that's 3x as much work and won't be on the books more than probably 6 months.
Most agents don't want to deal with the hassle of going through the surplus lines market for a short term policy if you don't have other policies with them (personal residence, rental units, car insurance, commercial policy, etc).
Are you working with a realtor on this purchase? Most realtors have an insurance agent they refer clients to regularly. An insurance agent that gets a bunch of referrals from your realtor would probably be more inclined to do it as a favor to the realtor that feeds them business. Probably have better odds that way than just randomly calling or emailing agents.
Posted on 10/25/23 at 3:28 pm to Im4datigers
Posted on 10/25/23 at 5:49 pm to weadjust
Just bumping this thread cause I deal with investors daily, can get this policy in like 30 min, and I never received an email to help out this dude.
Posted on 10/26/23 at 8:24 am to BamaCoaster
quote:
can get this policy in like 30 min
US Assure?
Posted on 10/26/23 at 8:08 pm to Chad504boy
quote:
US Assure?
Yep.
Posted on 10/26/23 at 10:01 pm to Im4datigers
quote:
Here’s my email to them, enlighten me what I’m missing Personal Info: 1. Full Name: ****** 2. DOB: ******* 4. DL#(s) ****** 5. Physical Address ***** 6. Phone Number(s) ****** 7. Email Addresses: ****** Home(s) Info: 1234 Smith road Mayberry Ms Investment property 1. Year Built: 1981 2. Sq Footage: 1250 3. Roof Type: architectural shingle 4. Roof Year: 2021 5. HVAC Year: 2016 6. Mortgage Co. Forthcoming......I'll be paying cash on friday for the property for $70k. Total as completed value is around $145k. We will be doing a fix and flip so it’s currently and will be vacant. most of the work is lipstick on a pig more or less. No movement of walls, plumbing etc. etc.
Gonna need some more info than what’s in your email. I sympathize with you regarding the frustration of not hearing anything back but honestly, you come across in this thread as someone who thinks they know more than the insurance agent and as an agent myself, frick that guy. Anyone who tries to tell me what should and should not matter for insurance underwriting can go frick themselves and I’m not going out of my way for that guy.
Also, the commission on this is going to be super small considering you’ll cancel it (and even admit to the agent) within the chargeback period.
Posted on 10/27/23 at 5:55 am to BamaCoaster
You able to get insurance for Florida properties while there's an ongoing hurricane claim on other properties? We're getting blackballed right now
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