Investor · Huntington beach, CA · Member since 2014 · 99 posts · 17 votes
Hello everyone,
I just wanted to share some of the difficulties I am encountering in obtaining home insurance estimates. I've e-mailed about 10 different insurance agents last Sunday and only 1 got back to me. She promised to send me an e-mail with some options, but I never got anything. Everyone else I've reached out to (home inspectors, gardeners, bankers) have gotten back to me within 24 hours, but I'm not getting anywhere with insurance agents. Do RE investors have a bad rap with insurance agents? What's going on here? Any advice on how I can get insurance agents to do business with me?
Kansas City, MO · Member since 2012 · 16 posts · 1 vote
11y
There's a saying about teaching a man to fish...
As with everything in this field - The first time you do something new, you should devote yourself to learning it. The first time you have a leaky flapper in the toilet, you should be learning how to replace one. etc (my opinion, i know some disagree)
Long story short I recommend talking in depth to at least 5 agents. You can email them next time you're buying a rental, once you've got it down and can read their quotes. You'll be amazed at what you'll learn. Some companies look back 3 years for claims, others 5. Some companies will give you a discount for having a college education, some could care less. Some companies charge a 1% wind hail deductible, others don't (yet)
And finally, I assure you if an agent won't take your call at 4 or 5 your time? there are 20 more that will.
As with everything in this field - The first time you do something new, you should devote yourself to learning it. The first time you have a leaky flapper in the toilet, you should be learning how to replace one. etc (my opinion, i know some disagree)
Long story short I recommend talking in depth to at least 5 agents. You can email them next time you're buying a rental, once you've got it down and can read their quotes. You'll be amazed at what you'll learn. Some companies look back 3 years for claims, others 5. Some companies will give you a discount for having a college education, some could care less. Some companies charge a 1% wind hail deductible, others don't (yet)
And finally, I assure you if an agent won't take your call at 4 or 5 your time? there are 20 more that will.
As a DIYer, I agree that learning is very important the first go around. I'll try to look for another round of agents, but so far out of the 8-10 I've contacted, I've only heard back from 2.