Buy and Hold Investor · Cincinnati, OH · Member since 2014 · 69 posts · 10 votes
I am an investor in the Cincinnati area and am relocating to Dallas Georgia, just outside ATL in about a month. I am looking for homeowners insurance recommendations. First I plan to insure my primary residence and then investment properties in the future. Does anyone have any recommendations for a Insurance company? Thanks
Investor · Alpharetta, GA · Member since 2015 · 242 posts · 185 votes
10y
I have had for 17 years now- what was originally Cotton States - but merged with Country Insurance. Excellent is all I can say. They insure my house, cars, etc. Found out a hail storm blew by here last spring break - never knew about it until a neighbor was getting a free roof replacement. I called my agent. Done. Free $17,000 roof replacement -(less my deductible of course). Daughter had a homelsss guy in Washington smash his fist into her hood - just because she was there- never knew her of course. Just smashed the hood and kept walking away screaming something to himself. The replaced the hood - no questions asked. Just gave them the police report. Years ago- had a tree fall in my backyard - and crushed a swing set for my kids who were young back then. Wrote a check to replace 1/2 the cost, due to age of the wood ( Older redwood swing "fort"). Wrote a check on the spot to me. So...do I recommend them? Let's just say my two neighbors with State Farm and All State didn't get a free roof at all - were told "not enough damage" to file a claim, but the rest of our street looks nice and new now.
Investor · Park Hills, KY · Member since 2016 · 11 posts · 3 votes
10y
I have found MetLife to have very solid rate quotes for investment properties, at least in Cincinnati. It never hurts to have multiple companies quote you.
Investor · Alpharetta, GA · Member since 2015 · 242 posts · 185 votes
10y
I have had for 17 years now- what was originally Cotton States - but merged with Country Insurance. Excellent is all I can say. They insure my house, cars, etc. Found out a hail storm blew by here last spring break - never knew about it until a neighbor was getting a free roof replacement. I called my agent. Done. Free $17,000 roof replacement -(less my deductible of course). Daughter had a homelsss guy in Washington smash his fist into her hood - just because she was there- never knew her of course. Just smashed the hood and kept walking away screaming something to himself. The replaced the hood - no questions asked. Just gave them the police report. Years ago- had a tree fall in my backyard - and crushed a swing set for my kids who were young back then. Wrote a check to replace 1/2 the cost, due to age of the wood ( Older redwood swing "fort"). Wrote a check on the spot to me. So...do I recommend them? Let's just say my two neighbors with State Farm and All State didn't get a free roof at all - were told "not enough damage" to file a claim, but the rest of our street looks nice and new now.
Investor · Alpharetta, GA · Member since 2015 · 242 posts · 185 votes
10y
@Derrick Lu, @Andy Sturm - Right now- I am using one of their offices in Kennesaw -even though I am in Alpharetta. The office near me is having staffing problems - even though their southeast corporate office is in Alpharetta ( I've been there to pay a bill once). Tim Miller is in the Country Financial Kennesaw office. BP won't allow phone numbers to be posted. Tim is a great guy- spoke to him a few times, and we met once. He does know his stuff. You can mention that I gave you his name. He may or may not remember me- (I spoke with him regarding my roof issue a few moths ago).
Lender · Winlock, WA · Member since 2013 · 1k+ posts · 1k+ votes
10y
Some of the issues that you may run into when working with your investment properties are listed below. I would consider Farmers and Foremost (Farmers owns Foremost) as they tend to be one of the most investor friendly company's out there as far as the big boys.
- Restrictions on dog breeds, - Restrictions on the numbers of properties insured with 1 company
- LLC's or entities on personal policies, - Vacant or properties to be rehabbed
- Replacement or Actual Cash Value or Agreed Value, - Bundling policies for additional discounts
- Umbrella policy requirements, do they allow other carriers? - Trampolines and Pools?
- Policies after damage or liability claims? - Commercial policies with the same carrier
I know many on here have mentioned these issues and more when it comes to rental properties. While its important to get a competitive price, it make no sense to not have the correct coverage even at better prices. Its in your best interest to interview your prospective agents and get together with an agent that fully understands the challenges and coverages that may be important to you as you grow your portfolio.