Looking for A Landlord Policy

[shshepard]

Hello

I have a customer who owns 15 properties that are in the name of his corporation. He is looking for just property coverage on 1-4 units. Is this possible or does he have to get a BOP? If it is possible, what companies will insurance this and will it be commercial.


Thank for your help

 

[gstker]

Hello

I have a customer who owns 15 properties that are in the name of his corporation. He is looking for just property coverage on 1-4 units. Is this possible or does he have to get a BOP? If it is possible, what companies will insurance this and will it be commercial.


Thank for your help

Try SafeCo. I know you can write up to 16 landlords as an individual.. not sure about corporation owned.

 

[djs]

This is easily done by most P&C carriers. If its in California, feel free to PM me and I'll provide more details. If it's in other states, you would be better off contacting someone there.

Things to consider:
- Are they rented or vacant?
- Are they in decent condition?
- Does he need unlawful eviction / entry coverage?

With this many units, I would recommend (though it isn't required) to use a BOP with the properties listed under the BOP for the property coverage. This keeps it straightforward and ties the properties to the liability coverage of the bop.

(for those who are reading this and may not know the acronym, bop = business owners policy).

Dan

 

[1manshow]

By 1-4 units, you mean 1-4 family units ? and he has 15 of these properties to insure ? Does not want liability ?
Then he gets a commercial fire policy with 15 separate locations.... I agree with BOP'ing it though, normally gets you a 40+% discount on the fire rates.

 

[BayAreaMike]

Try SafeCo. I know you can write up to 16 landlords as an individual.. not sure about corporation owned.

isnt safeco really strict on their dwelling policies? i think that 4 units is there max

 

[shshepard]

Thank You for all of your help. I think the BOP is the best way to go


Shiree

 

[warnerins]

Travelers will write the policies for dwelling under a corporation and there is no limit to the amount of risks. The catch is that each of the dwellings have to be written under a seperate corporation or LLC.

 

[Soaringagent]

What state are you in?

 

[Deep South Broker]

Try this company, they will write 39 units on a policy:

Emily Beare
Marketing Coordinator
National Insurance Underwriters
800 Yamato Rd. Ste 100
Boca Raton, FL 33431
800.338.2680 Ext. 250
Fax: 561.226.3611
[email protected]