Landlord Insurance with Online Portal for Management

3 Replies

Hi Everyone,

Insurance has been a frustration for me as I'm constantly adding property to my portfolio and always need to go through my agent (often with a couple reminder emails).  Adding further to the frustration is that I'm often asked if the property is rented out currently and if not, we have to do an entirely different insurance product while the home is being fixed up.  Lastly, anytime I want to verify all the properties I have insurance on, it seems to be a large undertaking too.

Has anyone else shared in this frustration?  Has anyone solved this issues?  I'm imagining some website where I log in, type the address of the property I wish to add and click submit (okay, maybe not quite that easy but at least in that direction).

Thanks,

Todd

Hey Todd,

I understand your frustration but it can be as easy as you think. There are now a few carriers who have package property products that you can 'somewhat' manage through an online database. As an agent, I still prefer to have my clients email me the requests so that I make sure the properties get properly covered. But they can also view the property list and print declarations any time. I have two relationships. One is through All Risks and the other is Seattle Specialty. I believe both have to be accessed through an Agent but I could be wrong. Also, they won't create an account for anyone with less than ten to fifteen investment properties. Another great aspect is that you can insure occupied and vacant on the same package. 

- Casey

@Todd Heuver

I second @Casey J Burkhead comments.  The programs I have come across that offer an online portal have a minimum property limit of 10+.

It also sounds like your agent does not have the best process in place.  It should be as easy as emailing the new property address to your agent and say "I'm closing Tuesday", with 2-3 follow up questions from the agent.  But all in all it should be a 1-2 minute email exchange once your policy is set up.

Thanks for the information guys!  I'm happy to hear that there are "easier" options out there.  I'm always looking for way to streamline and systemize my operation so I appreciate your insight!