What should i look for in Landlord insurance? What questions should i ask?
Can anyone recommend a Landlord insurance company in Oklahoma?
We have a commercial property insurance. Covers our rentals, all of them on one policy(40+ SFR's). At a stated value, with 1 Million liability coverage. We have them insured at 80% of the insurers value to avoid a co-insurance for a partial loss. Get with a local independent agent that you like. You can shop it around some, but most independents will come close to the same $ for like coverage. They actually will shop it around.
As for Landlord Insurance........ No such coverage.
And I suspect that if my life insurance provider found out that I had so many cheapo rentals, they would drop me.
there is actually property management insurance which may be like landlord insurance, we carry it. i also do a commercial policy. email me for info on a local guy but you need quite a few properties to get that type of policy.
By landlord insurance, I assume you mean home insurance for a property you are renting. My agents refers to them as landlord policies. I am using Allstate. They likely will not be the cheapest (not that big of a difference), but they offer replacement cost. For instance, they offer replacement cost on CAP Ex items like the roof for 10 years (in Oklahoma, you will likely replace the roof due to storm damage within 10 years). This saves you trying to go back and forth with an adjuster on what they will pay.
Thank you all very much. I think that i will just use any local insurance for right now. Hopefully, when i have a couple more houses i will try to convert to the some kind of blanket insurance.
We use a multi property format that is designed for investors with over 10 houses. Much easier to maintain than individual policies and has a good discount.
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