Homeowners Insurance Denied... Completely baffled.

[Dan C.]

Reaching out on behalf of my dad, who owns many buy/hold rental properties in the greater Indianapolis area. He's owned many of these for 20+ years.

He's just bought another property and it closes on Friday. He reached out to the insurance company he uses to insure all of his other properties and he was just outright denied. 

The insurance company has told him that since there have been 5 claims within the past 7 years on 5 separate properties they are unwilling to insure this home. While these claims are true, each one is a legitimate claims -- 2 of which were for minor issues resulting in ~$300-500 claims, one involving theft and vandalism for roughly $4,000 (someone stole the central air unit and cabinets), and the other two are on his primary residence -- hail damage, etc. All of the claims have gone directly to repairs, he has pocketed none of the money. 

To add to the frustration - he bought a house around Butler's Campus around March of last year, and he had no issues getting insurance then... He hasn't filed a claim between then and now either! Further fueling the fire -- the insurance agent mentioned the previous owner had filed a claim on the property within the past year or two, for theft. Why would this have any weight into his chance of insuring the property? 

Regardless - I am curious if others out there have been in a similar situation, and if so - do you have any recommendations? He's going to shop around, he's just baffled that this has even happened - first time in his 30+ years of being a landlord.

Thanks in advance.

Best,
Dan