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