Need Landlord Insurance Placement

[AmericanAsset]

Hello,

I have 6 homes (2 different owners, 3 each) that I need to find a carrier for...any input? All are located in MO.

I also have a place in IL that needs flood insurance.

Thanks!

 

[AmericanAsset]

No one has any ideas?

 

[NCAgent]

No one has any ideas?

Flood insurance should be the same anywhere you go. Hartford flood, travelers, NFIP directly, etc. etc. that is a set premium. Well, at least for the first 250k in coverage on the property and 100k on contents

As for the other homes, are they in the name of an LLC? Good condition with zero claims? What makes them so hard to cover? Are they vacant or tenant occupied? Coastal or in a PC10 area? Can you give more information on them and what the problem is?

 

[pcrossxx]

Have you approached the standard markets? what makes this an issue? Are you a client or an agent?

 

[djs]

My idea is to go write the policies. Be a decent payday.

 

[AmericanAsset]

Thank you all for your responses!

I am the agent. And new to this!

No costal properties, but in MO. No LLC. All good condition.

The problem is this:

• Client #1
  • Never insured the three homes
  • two are vacant and for sale
  • premiums came in at $1000+ for homes which are valued around 70-90K
• Client #2
  • Has three homes, all std market, insured with a Farmers policy which is pretty cheap (compared to what I am finding) all around $900 a year. All occupied.

So I was told to write a DF for rentals and I was also told to write with Acord 125, 126, 140 and a 810 supp to property.

So I have one cheap client (who said he found a policy for $522 a year) and one client who I am trying to save money.

B

 

[Scottyj]

I would check with Safeco... in many states they will allow up to 16 dwelling fire policies per client

 

[iiinycboi]

i think vacant express and usli does vacant properties for sale for a good price?

and the DP quotations, you really gotta look at them to compare apples to apples? i know down here in NYC, the DP forms no one knew the difference from dp1 dp2 dp3 and rental income, personal property etc... they all vary the premium.

 

[insurance1822]

vacant express will out price foremost...here in PA they would run around $150 / 3 months for that level of coverage. Basic form unless they're completely renovated within the last 2 years.

USLI is also good, but their property conditions are specific