Recommendations for best rental property insurance companies

Investor · castle Rock, CO · Member since 2024 · 28 posts · 7 votes

I have three rental properties and want to change insurance coverage for all of them, plus my umbrella, car and personal residence - (since rates are usually better the more policies you have with an insurer). Thanks in advance for any recommendations you have!

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Mike Kirby

Rental Property Investor · New Braunfels, TX · Member since 2021 · 291 posts · 257 votes

3mo

Quote from @Sara Valentine:

I switched all of our rentals to Steadily a few years ago with @Owen Rosen and have been very happy with the results. I follow up every year and compare and Steadily has been the best product for me and Owen is great to work with.

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Adrienne RammohanPro Member
Investor · Washington, DC · Member since 2022 · 137 posts · 161 votes
3mo
I moved everything over this year to a local insurance broker who has an office in one of my neighborhoods. Best thing I did--because they could handle everything (ended up being with Erie for all of them) and I love that he responds quickly and I can drive to his office if I need to.
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Alison Robinson
Rental Property Investor · Joliet, IL · Member since 2013 · 102 posts · 48 votes
3mo
I recently completed an insurance review for a 10-property rental portfolio and learned that the best policy structure can change over time.

For years, a commercial portfolio policy was the most cost-effective option. Earlier this year, however, my insurance agent told me that many rental-property owners were moving away from commercial policies because pricing had become less competitive.

I quoted several companies and policy structures. I ultimately moved the properties to individual dwelling-fire policies through Auto-Owners and reduced my landlord insurance premiums by about 26%.

My strongest recommendation is to work with an independent agent or obtain quotes from multiple carriers and compare a diverse mix of companies and policy types, including both commercial portfolio coverage and individual dwelling-fire policies.

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Mike Kirby
Rental Property Investor · New Braunfels, TX · Member since 2021 · 291 posts · 257 votes
3mo
Quote from @Sara Valentine:

I have three rental properties and want to change insurance coverage for all of them, plus my umbrella, car and personal residence - (since rates are usually better the more policies you have with an insurer). Thanks in advance for any recommendations you have!
I switched all of our rentals to Steadily a few years ago with @Owen Rosen and have been very happy with the results. I follow up every year and compare and Steadily has been the best product for me and Owen is great to work with.
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- Owen RosenBusiness Member
  Professional · Clinton Township, MI · Member since 2015 · 725 posts · 272 votes
  3mo
  Quote from @Mike Kirby:
  
  Quote from @Sara Valentine:
  
  I have three rental properties and want to change insurance coverage for all of them, plus my umbrella, car and personal residence - (since rates are usually better the more policies you have with an insurer). Thanks in advance for any recommendations you have!
  I switched all of our rentals to Steadily a few years ago with @Owen Rosen and have been very happy with the results. I follow up every year and compare and Steadily has been the best product for me and Owen is great to work with.
  
  Thanks, Mike. The one thing I'd add is that there is no one-size fits all. Every situation is different. That's why working with a broker is a good idea. Don't get tunnel vision on certain companies or types of policies. Just figure out the best fit and have a professional help you do it.
  Royal Oath Insurance Group4.9211 Reviews
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