Insurance for Portfolio of Homes (Texas - Single Families)

[Lake Lutes]

I am under contract to purchase a 10 unit package of homes in Texas (all-seller financed), we are doing 1 escrow. Does anyone have experience doing 1 insurance premium for a package of homes, or will they all need their own individual policies?

Thank you to all!

[Ghassan Jabali]

Hello Lake,

I hope you're doing well. Generally, you are able to have an Umbrella Policy and Package bundling when it comes to having Insurance on the properties. We would recommend making sure to discuss with the Seller what the minimum standard they require and/or if they will require themselves to also be on the policy as an additional insured if there are any mortgages on the properties that you are purchasing subject to. Additionally, we do recommend if these homes are going to be used for investment that you title them inside of a Trust and/or LLC and have those named on the insurance policy for both insurance protection and business protection.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.