Most rental property owners own one rental property
They more than likely inherited the property from family or they decided to try and buy a rental property and see if it was a good investment
When you own a rental property you always have to keep your expenses low and that includes the price you pay for insurance
Some real estate investors will try to under-insure the property to get the insurance costs down but that is not best way to accomplish lower insurance rates
Never lower the insurance value (cost to rebuild) to try to save money
All property policies have a co-insurance penalty
An insurance company will penalize you on your next claim by the percentage % you under-insured your property
I always reference a customer who has a two story house and asked me if he could insure half the house to save money
I asked him “Which half?”
Insurance companies want to you to buy enough insurance to rebuild your property (insurance value)
How to lower your rental property insurance without lower your insurance value?
Raise your deductible to a level of affordability
Consider a scheduled policy
What is a rental scheduled policy?
It is a policy you can add all your properties to one policy to save on the insurance rates
You can apply even if you only have one rental property
Cost savings increase when you have more than one property
How did Ms G save $5,791?
Ms G inherited 4 rental properties from a family member and the insurance policies was costing her $11,383
We were able to review her coverage and rates and place all her properties on one rental property insurance policy for $5,593 for an annual savings of $5,791 and she was able to get 1,000,000 of premises liability instead of 100,000 on her existing policies
What did she do with the savings of $5,791?
She bought another rental property
If you want a quote for your rental property(s) just complete the quick form and we will review and deliver you a quote proposal to see how much you can save
MY MISSION IS SIMPLE
I never want to cut your coverage to get the sale and have to apologize after a claim
I want to be the Best Insurance Agent to deliver the protection you need and the service you deserve