Insurance companies used it Cleveland Area

Cleveland, Ohio
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Insurance companies used it Cleveland Area

Jacob Graves
Investor · Cleveland, OH · Member since 2019 · 64 posts · 29 votes

Over the past few years I have used Utica and recently American Modern. Both had some pretty ridiculous comments after they did inspections on the homes. I take CARE of my properties so it seemed like they needed to prove their worth with minor "infractions". IE mildew on aluminum siding (cleaned within the last 3 years). I am thinking about giving it a shot with Berkshire Hathaway. Any recommendations? For perspective the policy is for 5 SFH.

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James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
3y
Quote from @Jacob Graves:

Over the past few years I have used Utica and recently American Modern. Both had some pretty ridiculous comments after they did inspections on the homes. I take CARE of my properties so it seemed like they needed to prove their worth with minor "infractions". IE mildew on aluminum siding (cleaned within the last 3 years). I am thinking about giving it a shot with Berkshire Hathaway. Any recommendations? For perspective the policy is for 5 SFH.


My agency sets a lot of Cleveland investors up on landlord insurance policies with carriers. Utica and American Modern are two of the most lenient carriers out there. If you can't get your policy to stick with them you should do the repairs. It doesn't really get easier from them. One long shot could be Foremost but I see no scenario where you find what your looking for with anyone other than those 3 carriers.

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  • Patrick DruryBusiness Member
    Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
    3y

    @Jacob Graves
    I can send over the go-to insurance agents that I use in Cleveland. 

    [email protected]614-412-4565
    Reafco-556 Reviews
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  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    3y
    Quote from @Jacob Graves:

    Over the past few years I have used Utica and recently American Modern. Both had some pretty ridiculous comments after they did inspections on the homes. I take CARE of my properties so it seemed like they needed to prove their worth with minor "infractions". IE mildew on aluminum siding (cleaned within the last 3 years). I am thinking about giving it a shot with Berkshire Hathaway. Any recommendations? For perspective the policy is for 5 SFH.


    My agency sets a lot of Cleveland investors up on landlord insurance policies with carriers. Utica and American Modern are two of the most lenient carriers out there. If you can't get your policy to stick with them you should do the repairs. It doesn't really get easier from them. One long shot could be Foremost but I see no scenario where you find what your looking for with anyone other than those 3 carriers.

    1Reply
  • Jacob Graves
    OP
    Investor · Cleveland, OH · Member since 2019 · 64 posts · 29 votes
    3y
    Quote from @James Wise:
    Quote from @Jacob Graves:

    Over the past few years I have used Utica and recently American Modern. Both had some pretty ridiculous comments after they did inspections on the homes. I take CARE of my properties so it seemed like they needed to prove their worth with minor "infractions". IE mildew on aluminum siding (cleaned within the last 3 years). I am thinking about giving it a shot with Berkshire Hathaway. Any recommendations? For perspective the policy is for 5 SFH.


    My agency sets a lot of Cleveland investors up on landlord insurance policies with carriers. Utica and American Modern are two of the most lenient carriers out there. If you can't get your policy to stick with them you should do the repairs. It doesn't really get easier from them. One long shot could be Foremost but I see no scenario where you find what your looking for with anyone other than those 3 carriers.


     I will look into that. Appreciate the insight.

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  • Michael Norris
    Specialist · Strongsville, OH · Member since 2016 · 303 posts · 217 votes
    3y

    One other carrier not mentioned is Aegis. Property & Casualty carriers are on a big tsunami of being unprofitable right now so they are ratcheting up underwriting requirements like I have ever seen it in the last 15 years. Some carriers have stopped accepting new business all together others have started to limit the types or age of properties they insure.

    The other thing they are doing is blocking any new business if you have a claim in the last 3 or 5 years. Example - you have 30 properties with a company and have a claim, even a small one.

    Then you go but another property they will not accept the new property from you until the claim drops off the 3 year mark.

    Ridiculous? Yes - but that is starting to be very common.

    Don't make small claims! 

    And make sure you don't lapse a policy for missing a payment the carriers are starting to be very unforgiving on re-instating policies that cancel for non-pay and some may even decline to issue a replacement or new policy if you have a cancel for non-pay.

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