Where did you find your insurance?

Question

How did you go about finding insurance for your rental? We have a rental property property that used to be our primary residence, but need a new insurance company as the existing one does not do rentals!

Chris Davidson · Answer

@Katie Lyon I use an insurance broker, just like a mortgage broker they work with several companies so they can get the best rate and the policy I need. Plus you get to build a relationship with one person who does the hard work of finding the best policy for you.

Just ask some other investors in your area, or google insurance broker in your area. Best of luck!

Account Closed · Answer

Your options are basically

1) Find a broker that has access to many carriers and get you quotes

2) Get a quote from the big carriers that have captive agents that only work for them (Farmers for example)

3) Explore carriers that work direct-to-consumer

You can search on Google for "landlord insurance" or similar terms. Also I"m sure there are some agents within the BP community that can assist.

Eliott Elias · Answer

Get with a insurance broker that you can keep on speed dial

Aaron Porter · Answer

The best option is to work with a qualified knowledgeable agent.  Not to knock the "do it yourself and go direct to an insurance carriers website" but almost always the coverages are never what a client needs and it causes issues.  I have worked with multiple clients that set up their insurance themselves and then had a claim get denied or only partially paid because the client didn't set up their policies correctly or with an understanding of what the policy actually covered.

Best options are to work with independent agents that have access to lots of carriers.  but don't count out agents/companies like State Farm and American National.  Both are great companies and have good products.

Katie Lyon · Answer

Thanks everyone!

Where did you find your insurance?

Most Popular Reply