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All Forum Posts by: Jared Townsend

Jared Townsend has started 2 posts and replied 189 times.

Post: Build to Rent in North Texas

Jared TownsendPosted
  • Insurance Agent
  • Orlando, FL
  • Posts 202
  • Votes 84
Quote from @Brannon Potts:
Quote from @Jared Townsend:

Do you insure each unit individually or have you put them all on one commercial reporting form policy?


 Currently I use mostly Steadily Insurance with specializes in rental properties.  Each with $1MM in liability insurance. 


 Thats a great option! We've had success insuring through Steadily as well as Obie and a few others that allow portfolio type coverage. 

Post: Insurance Structuring Advice

Jared TownsendPosted
  • Insurance Agent
  • Orlando, FL
  • Posts 202
  • Votes 84

Most carriers want to write the policy in the deeded name, your LLC in this situation. However some carriers will allow you to write in your personal name with the LLC as an additional insured - may be helpful for your scenario.

Post: How much has the government shutdown affected you? Loans, Insurance, etc.

Jared TownsendPosted
  • Insurance Agent
  • Orlando, FL
  • Posts 202
  • Votes 84

If the insurance is provided through federal means (think NFIP flood) then yes, it is at a complete standstill. Most private carriers (flood insurance included) are continuing on with their normal operations so you shouldn't expect any changes. Government shutdown is wildly impactful in some areas and a non-factor in others. 

Post: Looking for Home insurance quotes advice

Jared TownsendPosted
  • Insurance Agent
  • Orlando, FL
  • Posts 202
  • Votes 84

Its tough to know from this information as the endorsements offered are equally important to the coverage limits. With that said, I would review each coverage limit and make sure that it is adequate, but not over-insured. 

For example, if you don't have a fence, shed, or other 'other structure' I would reduce that coverage to the minimum. If you have a detached garage though you may even consider a higher limit than either of these quotes provide. 

Ultimately I'd suggest working with a competent agent that can review these options with you to help you make an informed decision. 

Post: Good insurance company? - Chapel Hill - NC - House hacking a duplex

Jared TownsendPosted
  • Insurance Agent
  • Orlando, FL
  • Posts 202
  • Votes 84

Thats unfortunate but not necessarily uncommon to hear when working with insurance agencies that are unfamiliar or unexperienced working with rental properties. 

Post: Good insurance company? - Chapel Hill - NC - House hacking a duplex

Jared TownsendPosted
  • Insurance Agent
  • Orlando, FL
  • Posts 202
  • Votes 84

Many insurance carriers will insure the building with two policies - one for rental side, one for primary side. Not always the easiest, but it can be done!

There are a select few that would insure under a single policy, but it is out there. 

Post: Landlord insurance recommendations - SoFLO

Jared TownsendPosted
  • Insurance Agent
  • Orlando, FL
  • Posts 202
  • Votes 84

Coverage for a South Florida STR home is challenging to say the least! We are however seeing rate stabilization and even some rate decreases announced for Q4'2025. Some of our markets that have historically been closed to the tri-county area are opening up capacity which is encouraging to see.

With that said, most people would not consider insurance costs to be 'reasonable' compared to the rest of the US - your rates are still going to be more than someone with a comparable home in Iowa. But hopefully your rental rate is also not comparable in all the right ways!

If you don't have a recent wind mitigation report, it is always worth getting one to include with your quote request. The inspection is $75-150 but could save you thousands based on the results. As far as upgrades go, it all depends on the cost and potential savings. IMO, no amount of insurance savings will generate a reasonable ROI on replacement windows. If you absolutely have to replace the windows anyways, then maybe its worth it to pay extra for the impact windows.

Retrofitting hurricane straps is a common upgrade we see homeowners complete that can potentially pay for itself within 2-3 years. Worth looking into!

Post: Insuring two properties at one address

Jared TownsendPosted
  • Insurance Agent
  • Orlando, FL
  • Posts 202
  • Votes 84

You can insure multiple structures at a single location on a commercial property form. 

Post: STR Insurance Vs Landlords Insurance???

Jared TownsendPosted
  • Insurance Agent
  • Orlando, FL
  • Posts 202
  • Votes 84

For most STR its really just a matter of eligibility. Like @Andrew Steffens said, most STRs are written on a DP3 policy form that allows for STR usage and increased contents coverage. You just have to be careful with your minimum night stay as many insurers have a minimum of 2 or 3 nights (otherwise they consider it a hotel). 

Also be extra careful if you're offering additional amenities that increase your liability risk off property like golf carts, canoes, bikes, etc. as many DP3 policies limit liability to the premise only. You may need a commercial liability policy or a product like Proper to extend liability coverage off-premise. 

Post: Short-term Rental Insurance In Deltona FL

Jared TownsendPosted
  • Insurance Agent
  • Orlando, FL
  • Posts 202
  • Votes 84

Many of the national carriers don't play in our corner of the world, but there are a handful of FL specific carriers that provide home insurance for short term rentals. 

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