Can anyone provide insight with regards to obtaining umbrella insurance that will cover over 10 investment properties (mix of SFR, MF, STR and LTR). We also own some undeveloped land.
GEICO will only cover us for 4 properties and USAA wont issue us a policy because we dont maintain car insurance with them.
All of out properties are in North Carolina - Fayetteville area. While it would be great to work with someone local, I am open to working with a company that can provide good coverage at a reasonable rate.
Any recommendations, insight or advice?
@Justin Tahilramani with the # of units going up and the different investment types, you will have a hard time finding solutions with the personal lines companies like the ones you have.
Think of it this way, your building a business with Personal policies instead of commercial policies.
There are 1-2 Umbrella carriers who may be able help with your current situation. I’ll send them to you.
If you continue to grow, at some point you won’t have an option but to restructure your insurance program.
@Jason Bott - thank you!
@Justin Tahilramani did you end up finding a good commercial insurance company? I'm also in need of one that can handle multiple states.