Investor · Phoenix, AZ · Member since 2011 · 104 posts · 13 votes
Greetings,
I'm looking for an investor friendly insurance agent licensed in Indiana who specializes in residential investment properties, and who is familiar with the area. Thanks fellas.
@Larry Fried I tried contacting Erin for an insurance quote and spoke to someone else at her insurance agency. The person that I spoke to said I would also need to have some other insurance through their agency to get a policy on any rental property(Ex: auto insurance). Did you have to get another form of insurance?
I was not impressed with Erin / Shelter Insurance. For the most part, I'm happy with the Masterson Agency in Valparaiso, Indiana. (Apparently putting their phone number here is against the rules...) They have the best rates around for the most part. For my rentals, on average, I pay about $50-60/month for replacement cost coverage. I believe they're only licensed in Indiana. They work with AAA, Grange, Foremost, etc. The only area they aren't too competitive on auto, though, but it's like a $30 monthly difference or so. Just easier to have everything under one roof. The rates would have to be significantly lower to get me to switch.
@Larry Fried I tried contacting Erin for an insurance quote and spoke to someone else at her insurance agency. The person that I spoke to said I would also need to have some other insurance through their agency to get a policy on any rental property(Ex: auto insurance). Did you have to get another form of insurance?
Travis, auto insurance never came up. It certainly isn't required. I was dealing with them under an LLC that owned the rental, so if you are insuring under your own name that could be very different. Still, I have a colleague that just got a quote from Erin for a rental he is purchasing under his own name. There was again no mention of auto insurance as far as I know, but he lives in Texas. I think you should talk to Erin to get the straight scoop.
I was not impressed with Erin / Shelter Insurance. For the most part, I'm happy with the Masterson Agency in Valparaiso, Indiana. (Apparently putting their phone number here is against the rules...) They have the best rates around for the most part. For my rentals, on average, I pay about $50-60/month for replacement cost coverage. I believe they're only licensed in Indiana. They work with AAA, Grange, Foremost, etc. The only area they aren't too competitive on auto, though, but it's like a $30 monthly difference or so. Just easier to have everything under one roof. The rates would have to be significantly lower to get me to switch.
Erick, I'd be interested to know what other companies/agencies you checked with before deciding to go with the Masterson Agency. I know the Mastersons and like them and keep meaning to have them quote me for our rentals, house, cars, etc, but just keep not making the time. Right now, we're scattered across 3-4 different agencies, and it's a bit of a hassle. If there are any you ruled out, I'd love to learn from your recent experience. Thanks!
I tried to get a quote with Raines Insurance group, and was shopping around. When I told him I was researching my options, and started asking questions, he said, "how dare you shop me". Someone at NICIA told me to give him another chance, and I did. I called him to get a quote through Berkshire, and he said he wasn't going to take the time. That's where the Mastersons are different. I blow up their phone and email like you wouldn't believe it, and each and every time, there is a friend on the other end of the phone. The Mastersons are truly a cut above the rest. I've just recently started, and its nice to have an ally on the other end. Auto is not too competitive, but the service is second to none. I can't seem to post their phone number, but if you google "The Masterson Agency" their website and phone number will come up. I just wish I had the option to get a landlord policy quote online so I wouldn't have to call them so much. That's really my only complaint. Good luck.