Rental Property Insurance
If you own rental property or are looking to buy a rental we can help you with the lowest rates for rental property insurance
Not all rental properties are the same because some investors might need a fix and flip renovation, a vacant property, short term rental or a four unit tenant occupied annual lease property
FM Agency Group represents many insurance companies that can offer the insurance protection you need for every type of rental property you may have
We can also write multiple properties on policy if you need one renewal bill because you may have a different insurance company for each property you own
Types of Rental Properties
Occupied Landlord Dwelling
This is a tenant occupied property that you the owner does not reside at the property location
You have a tenant paying your rental on an annual lease basis
We can write up to a 20 unit apartment building in our program
Short Term Rental and Vacation Properties
This property would not have a long term tenant and usually would occupy the property less than 7 days
Most insurance companies do not write Short Term rental properties so you need to be upfront with the insurance company or insurance agent so they can place you with the right insurance company
We can offer an insurance policy for Short Term Rental and Vacation Rentals that includes property and liability insurance protection
Non Standard Rental Property
These properties are usually not acceptable in the standard insurance market and you will have trouble finding an insurance company to write the insurance policy and stay on the risk after the inspection
These properties can include, but not limited to
Asbestos siding and roof
Window units (no central a/c)
Aluminum wiring
Roof older than its useful remaining life
Patched roof properties
Burglar Bars on Rental Properties
Lower Value homes usually less than 100,000 to rebuild
Flat Roof
Section 8 Subsidized housing
Properties over 75 years old
Home Renovation
Not all properties purchased are ready to flip or move in a tenant
The property may remain vacant for an extended period of time and you need to renovate the property
A standard insurance policy will not allow renovations of your property when it is vacant
You need a renovations policy which you can purchase month to month
Once repairs and renovations are completed you can endorse the policy
If you don’t purchase the renovation policy your future claim could be denied if the policy is not written properly
Vacant Property
This policy is needed when your property will remain vacant
The property could be up for sale or waiting to be renovated but renovations are not going to begin for months
A vacant property policy is needed when no one occupies the property
This type of property is a greater risk for a claim because no one is at the property to monitor or report any issues
Some insurance companies will require you to maintain heat in the location to at least 55 degrees and you must shut the water off
Insurance for Real Estate Investors
Scheduled Insurance Policy
This is a policy that allows you to add all your properties to one insurance policy
You will only have one insurance policy and one insurance renewal bill
This is a great option if you currently have multiple insurance policies and different insurance companies for each rental property you own
Keeping track of the renewals can be a hassle and time consuming
OUR NEW RENTAL ADVANTAGE PROGRAM
WE HELP LOWER INSURANCE EXPENSES FOR RENTAL PROPERTY OWNERS
Office
201 Evans Rd Ste 315
New Orleans La 70123
Hours
Mon-Fri: 9am – 5pm
Sat: Text and Email
Sun: Text and Email
contact@fmagencygroup.com
service@fmagencygroup.com
tim@fmagencygroup.com
Phone
Tel: 833.372.3800