All Forum Posts by: Adam Zdunek

@Kathy Villagomez most companies do start at $100,000 liability limits and will go up to $500,000 liability limits. There typically isn’t a huge dollar amount difference between $100k liability and $500k liability policies. For that reason I would recommend the higher the better for you as a landlord. The other thing I would recommend is either doing a spot check periodically throughout the year just to confirm the policy is still active. The other thing you can do is require the tenant to name your company (if the rental is in a business name) or name you as an additional interest on the policy (not an additional insured) that way you will be notified regarding the renters insurance policy.

I’ve seen it way to many times where the tenant buys the insurance just to show they have it at the time of move in and have not intentions of keeping the insurance active once they move in because the landlord typically just confirms the insurance at the time of move in.

I’ll DM you my contact info if you have any questions as I’m a licensed independent insurance agent for Ohio.

@Forrest T Schue I’ll DM you my contact info if you like to discuss your options. We have a couple options just depends on how you want to insure the property.

Best Regards

Adam Zdunek

The Navage Insurance Group

Kim,

What Jason said was correct.  I'm an independent insurance agent licensed in Ohio and the ones that are offering a single policy for multiple locations are greatly different than the ones offering insurance for one location.  I work with a lot of real estate investors from out of state and I'm always available to jump on a phone call if you would like to discuss your options.  Each risk is unique and each investor is different, so it's best to see what the real estate investor is trying to accomplish in the future.

I'll DM you my cell feel free to call when you have time.

Just sent you a dm

@Kyle Debiase there's a lot of good advice on this thread.  You will definitely need other SRT insurance.  There are a handful of carriers out there right now with more carriers adding endorsements to coverage SRT since they are becoming more popular.  As @John Underwood stated Proper, Foremost and CBIZ are some of the most popular.  There are others that have added endorsements onto their policies (I would check with a local independent agent in your state), but Travelers started offering coverage for SRT now too.  Just a heads up SRT insurance is going to cost more than standard homeowners insurance or a standard landlord policy.  Proper will be the most expensive carrier out there for SRT.  Your best bet is to call a local independent insurance carrier in your state to see the options.

@Allen McGlashing there’s a lot of variables that determine the price. Your best bet is to get quotes for an independent insurance agent. If you are interested I could work up some quotes for you as I’m licensed in Ohio. I’ll send you my contact info to contact me if interested.

John,

Just looking at your numbers.  The insurance looks low for a 4plex.  Are you going off of what the previous owner has or what you have been quoted.  Call me if you want to chat on the different ways to insure a property.  I'll DM you my number. 

@Brian Childres that’s pretty common. Throughout the years carriers change their appetite and risk tolerance. My suggestion is to talk to a local independent insurance agent that has multiple carriers to quite you out with.

Best of luck!

Brad,

If you are still looking for quotes I'm an independent agent that's licensed in Ohio.  Also, I work with a lot of real estate investors.  I just sent you my contact info to your DM.

Zee,

I can help you out with quotes.  I'll DM you my info and we can talk.