All Forum Posts by: Courtney Urbanek

I’m sorry to hear about your experience. We’ve worked diligently with our carrier partners to keep rates stable for many years. Unfortunately, factors like a hardening property market, inflation, labor shortages, increased building costs, and an increase in claims frequency and severity have caused our carriers to require increases to both rates and coverage amount minimums to keep up with these market conditions. Per the Participation Agreement all insureds sign, we are a monthly reporting program and are required to provide a 30-day notice outlining any coverage or cost changes, which was sent via email.

Our intent is to always update clients as quickly as possible of any changes and provide excellent service. We apologize that you had difficulties reaching us. In talking with the team, I understand that a CSA is working with you on coverage options to best fit your needs and budget. We value you as a client and hope to continue to earn your business. Thank you!

I’m sorry to hear about your experience. We’ve worked diligently with our carrier partners to keep rates stable for many years. Unfortunately, factors like a hardening property market, inflation, labor shortages, increased building costs, and an increase in claims frequency and severity have caused our carriers to require increases to both rates and coverage amount minimums to keep up with these market conditions. Per the Participation Agreement all insureds sign, we are a monthly reporting program and are required to provide a 30-day notice outlining any coverage or cost changes, which was sent via email.

Our intent is to always update clients as quickly as possible of any changes and provide excellent service. We apologize that you had difficulties reaching us. In talking with the team, I understand that a CSA is working with you on coverage options to best fit your needs and budget. We value you as a client and hope to continue to earn your business. Thank you!

I’m sorry to hear about your experience. We’ve worked diligently with our carrier partners to keep rates stable for many years. Unfortunately, factors like a hardening property market, inflation, labor shortages, increased building costs, and an increase in claims frequency and severity have caused our carriers to require increases to both rates and coverage amount minimums to keep up with these market conditions. Per the Participation Agreement all insureds sign, we are a monthly reporting program and are required to provide a 30-day notice outlining any coverage or cost changes, which was sent via email.

Our intent is to always update clients as quickly as possible of any changes and provide excellent service. We apologize that you had difficulties reaching us. In talking with the team, I understand that a CSA is working with you on coverage options to best fit your needs and budget. We value you as a client and hope to continue to earn your business. Thank you!

I’m sorry to hear about your experience. We’ve worked diligently with our carrier partners to keep rates stable for many years. Unfortunately, factors like a hardening property market, inflation, labor shortages, increased building costs, and an increase in claims frequency and severity have caused our carriers to require increases to both rates and coverage amount minimums to keep up with these market conditions. Per the Participation Agreement all insureds sign, we are a monthly reporting program and are required to provide a 30-day notice outlining any coverage or cost changes, which was sent via email.

Our intent is to always update clients as quickly as possible of any changes and provide excellent service. We apologize that you had difficulties reaching us. In talking with the team, I understand that a CSA is working with you on coverage options to best fit your needs and budget. We value you as a client and hope to continue to earn your business. Thank you!

Hi Vanessa! 

A lot of landlords and property managers require proof of insurance prior to giving the keys to the renters. So after their application is accepted, the next step is for them to get renters insurance. You can have them add you as an additional interest/interested party on the policy. It shouldn't cost them any extra. As an additional interest, you are notified if they cancel or make changes to the policy. 

NREIG does offer coverage called the Tenant Protector Plan, which may be what you are looking for if you want to pay for coverage and pass the cost along.

Typically, if the building is damaged, that falls under the landlord's policy and you'd make the claim. But, if the fire was caused by the renter's negligence you could make a claim against the renter.

If the tenant destroys the home, most people keep the renters' security deposit and asses the damage to see if it's worth filing a claim. Too many insurance claims for minor items will most likely result in an increase in your insurance premium. You could always take the tenant to small claims court, but again, it's up to you if that's worth the headache. Your best bet to protect yourself from tenant damage (other than wear and tear) is to do a thorough background check. 

Hope this helps!

Hi Lincoln - You should check out the book Innovative Insurance by Shawn Woedl. It's written for real estate investors and does a great job of explaining insurance coverages.

Hi Lisa – Thank you for bringing this matter to our attention. I’m very sorry we failed to meet your expectations. We would appreciate another chance to earn your business. I’ve sent you a connection invitation for you to share any additional feedback with me and how we can provide better service for you in the future.

Hi Lisa – Thank you for bringing this matter to our attention. I’m very sorry we failed to meet your expectations. We would appreciate another chance to earn your business. I’ve sent you a connection invitation for you to share any additional feedback with me and how we can provide better service for you in the future.

Great advice @Cameron Moore! To add, if investors are comfortable taking on a little bit of additional risk, they may want to consider changing their policy form from Special to Basic and/or switching to actual cash value coverage instead of replacement cost coverage.

Hi Michael! You can put "NA" in the field for Company/Entity Name if you don't have an LLC. We have that as required because if investors do have a company we need to know. But, it's not a requirement to be insured by us. Thank you!