Buying rental property- past insurance claims

[Nina V.]

Hi folks,

I was wondering if there is a way to see if there were any past insurance claims for a property I am concerning purchasing. For example I am looking for flood/hail insurance claims? 

Thank you!

[Sam Yin]

Quote from @Nina V.:

Quote from @Sam Yin:

Request a Loss Run Report on the property. That will give you at least a 5 year history, or more.

Who will give me this report? I am buying a property that is owner occupied.

 Generally, if this is an investment property, you should be able to ask the seller to request one for you to review during your due diligence period. This should be made a part of your standard operating procedure as an investor into the future. Not only will if if you a better idea of the condition of the property and the insurance potential, it will also let the seller know you are a serious investor and will understand you better when you negotiate the price down to ensure it is fair and mitigate unknowns.