Opinions of using a Master Insurance Policy (ReinsurePro) Vs traditional

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Opinions of using a Master Insurance Policy (ReinsurePro) Vs traditional

Lisa Bryant
Investor · Fort Worth, TX · Member since 2012 · 11 posts · 0 votes

Has anyone used a Master Insurance Policy to cover multiple of their properties?  Recently had Travelers drop one of my homes claiming trees near roof.  The closest limb was over 15 feet away from roof so I suspect they just didn't want to insure the home for some other reason. My agent has suggested going to a Master Policy Plan for my properties.  Reinsure Pro is an Excess and Surplus lines non-admitted carrier.  They are not guided by the Texas Dept of Insurance.   Insurance is up for renewal on all properties and I would greatly appreciate any feedback. Currently the homes are all insured with Travelers.

Thank you

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
3y
Quote from @Lisa Bryant:

Has anyone used a Master Insurance Policy to cover multiple of their properties?  Recently had Travelers drop one of my homes claiming trees near roof.  The closest limb was over 15 feet away from roof so I suspect they just didn't want to insure the home for some other reason. My agent has suggested going to a Master Policy Plan for my properties.  Reinsure Pro is an Excess and Surplus lines non-admitted carrier.  They are not guided by the Texas Dept of Insurance.   Insurance is up for renewal on all properties and I would greatly appreciate any feedback. Currently the homes are all insured with Travelers.

Thank you


not sure exactly what that is but we have a proctor policy  which is like the old Zurich Policy where you can add and subtract properties monthly and  your only billed for the months you have the policy in force.. to me its not the best insurance as deductible is high.. they are not very good at paying claims and I just see it basically like catastrophic insurance but they never look at the properties and nothing is ever denied.. but its more expensive. However works good for us in our high turn over business IE flipping. 
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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    3y
    Quote from @Lisa Bryant:

    Has anyone used a Master Insurance Policy to cover multiple of their properties?  Recently had Travelers drop one of my homes claiming trees near roof.  The closest limb was over 15 feet away from roof so I suspect they just didn't want to insure the home for some other reason. My agent has suggested going to a Master Policy Plan for my properties.  Reinsure Pro is an Excess and Surplus lines non-admitted carrier.  They are not guided by the Texas Dept of Insurance.   Insurance is up for renewal on all properties and I would greatly appreciate any feedback. Currently the homes are all insured with Travelers.

    Thank you


    not sure exactly what that is but we have a proctor policy  which is like the old Zurich Policy where you can add and subtract properties monthly and  your only billed for the months you have the policy in force.. to me its not the best insurance as deductible is high.. they are not very good at paying claims and I just see it basically like catastrophic insurance but they never look at the properties and nothing is ever denied.. but its more expensive. However works good for us in our high turn over business IE flipping. 
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    JLH Capital Partners51 Review
    WebsiteView Page
    2Reply
  • Lisa Bryant
    OP
    Investor · Fort Worth, TX · Member since 2012 · 11 posts · 0 votes
    3y

    Thank you Jay Hinrich's for answering. 

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  • Jeff S.
    Specialist · Portland, OR · Member since 2010 · 3k+ posts · 1k+ votes
    3y

    @Lisa Bryant call Geico they can use many different companies. Independent agents these days not always working in your best interest. If you need commercial policies that is another story. Sad about Travelers as I have them without problems so far.

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  • Kyle MccawBusiness Member
    Property Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
    3y

    @Lisa Bryant I use a commercial policy to cover all my long term rentals. It comes out more cost efficient. I adjusted my coverage to have a high deductible. I'm the kinda guy that doesn't make a claim every time it rains. 

    @Cameron Moore is my go to insurance broker

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