Problem: The insuring company makes investor carry certain limits on their property.
Solution: We allow the investor to carry the coverage they desire. If they want to self-insure as much as possible by carrying lower limits, they can.
Problem: They get a policy for every property, making it difficult to manage and overlooking gaps in coverage.
Solution: We have one policy for every property, paid annually or monthly. Leaving the investor with only one bill for all properties. In fact, if the client chooses, they can manage their policy online (even make changes).
Problem: Investors coverage has extra coverage’s they do not need like loss of rents or separate structures.
Solution: Our policies give you the opportunity to select those coverage’s only if you want them.
Problem: Most policies have coverage that decreases or does not cover when a rental becomes vacant.
Solution: Our policies cover a property even when it vacant.
Problem: Their coverage is Actual Cash Value, which means it is depreciated based on age and they might not receive the amount that they have it insured.
Solution: We have replacement cost and ACV options. The important thing that separates us: is in the event of a total loss we have Agreed Value, which means whatever amount you have the property insured for, that will be the amount you get.
Problem: If rehab needs to be done on a property, most policies do not cover while under construction.
Solution: We have a builders Risk option that can be added for very little to protect those properties.
Problem: Most policies have a maximum liability limit of 300,000.
Solution: We have 1m liability limits.
Problem: RE investors have to be concerned with inspections on new properties and sometimes on renewals, in which the insuring company will cancel.
Solution: We do not do inspections on property.
Problem: The insuring company will not insure older homes, bad location or if losses existed on home.
Solution: We will cover the property regardless of age, location or loss history.
Problem: Investors premium is due (if they pay monthly) before they actually get paid their rent.
Solution: We can bill monthly but it is one month behind providing cash flow for investor.
Problem: Rental policies do not have Earthquake or Flood.
Solution: Our policies have both; the deductible is high (25,000) however protection still exists for catastrophic situations.
Problem: A lot of policies do not allow for a company to be the named insured, such as an LLC or Trust.
Solution: We do, in fact we will allow multiple entities per policy.
Problem: If investor buys a commercial property, they will have to get insurance for it separately.
Solution: We can add the commercial property to the policy
Problem: Most rental policies are written with basic coverage form (an insurance term)
Solution: We have a special form (another insurance term) basically a special is better than a basic or broad form policy.
Problem: Companies will not allow or they charge for additional insured’s
Solution: We allow as many as you would like at no additional charge, in fact you could manage those online.