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Elena Jirnova
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How to start with offering housing to Insurance companies

Elena Jirnova
Posted Sep 16 2023, 12:17

Good afternoon. ! 
Im new here and recently  saw a threat about housing for insurance companies . Basically insurance companies looking to relocate people who had to insurance  claims on their property and need a temporal housing.

I’m curiouse to learn more on how to tap into this market and rent my properties to insurance companies .


thank  you !

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Sean K.
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  • Insurance Agent
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Sean K.
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  • Insurance Agent
  • 07930
Replied Sep 16 2023, 14:38

Insurance companies don't relocate the clients.  They find housing on own that can be covered by insurance if home uninhabitable and it is due to covered loss.  Then coverage extends.

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Adam Martin
  • Rental Property Investor
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Adam Martin
  • Rental Property Investor
Replied Sep 16 2023, 17:12

I've done it before and had a company reach out to me asking if it was something I would be interested in.  Keep in mind not a lot of people are willing to do the shorter term rental so everything is negotiable and they will pay a premium.  I had an empty LTR that was unfurnished and they paid an extra 650/month and also paid to furnish it for a 6 month rental.  Everything went well and I thought this could be a good niche but at the end of the day they don't always need a house and you really can't plan vacancies in advance.  If it were the off season and I was having trouble renting I may consider it again but overall I don't think it is worth the extra vacancy but if you are doing MTR it is definitely worth making the right connections.  We used ALE relocation services and they were great, you can register on their site when you have a vacancy and they will let you know if they need you but it is somewhat based on luck if they need you.  

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Jose Maldonado
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Jose Maldonado
  • Wholesaler
Replied May 13 2024, 17:27
Quote from @Sean K.:

Insurance companies don't relocate the clients.  They find housing on own that can be covered by insurance if home uninhabitable and it is due to covered loss.  Then coverage extends.


 They actually do. There are companies that the insurance companies use to find housing for the loss claim clients. Their budgets are HUGE [I've seen up to $10K/monthly a furnished home]. The "housing locators" companies are major businesses. Establishing a relationship with a few of them locally or nationally [if you have a network] would be extremely beneficial. I leverage my AirBNBs to pickup a few contracts yearly.