All Forum Posts by: Owen Rosen

There's no way to answer this for certain based on this information. Think about it this way - did the HOA successfully file insurance claims or did they have to go after the builder? Or both? If there was not a covered insurance loss there isn't likely to be a covered loss for you either.

Rather than worry about what State Farm might do, don't you you have a trusted advisor agent that you can talk to at the agency for advice?

0 Votes

Seattle, Washington

Is the HOA imposing the assessment due to an insurance claim or is this a maintenance situation? "Water issues" is vague.

If it's related to maintenance your loss assessment coverage won't apply.

0 Votes

Seattle, Washington

Quote from @Josh Otero:

Quote from @Logan Beckner:

Quote from @Chris Seveney:

Quote from @Logan Beckner:

Looking for some advice for a current situation for one of our rentals that we self manage. On 2/20/25 our tenant said that the HVAC heating was not working. I went out that night, reset the breaker and the furnace - heat came on and worked no problem. The house was 72 degrees at the time. 24 hours later the tenants said that the heat was again not working. The thermostat was set to 72 but the inside of the home was 68 and the furnace was not coming on. That was on Friday at 7pm. So we contacted our HVAC person and they agreed to come out on Monday 2/24/25 at 8am. In the meantime, we offered space heaters so that they would be more comfortable. On Monday morning the HVAC tech came to the home and determined that the control board failed on the unit and would take about 5 days to get the part for install. Now, the next day on 2/25/25 the tenant is requesting that we give them a 25% reduction in the rent for the month, sighting that 30% of the month they have been left without heat. They claim that they cannot use the space heaters at night due to it not being safe. I have never come across a situation like this so I’m reaching out to get some advice. Let me know if there’s anything you need clarified to help! Thanks everyone.

This is what renters insurance is for.

Chris, thanks for the reply. Could you elaborate by what you mean by this?

yes, I'm also curious to hear about the renter's insurance and how it plays a factor in this scenario

It doesn't. @Chris Seveney, renters insurance would not apply in this situation because there is no covered peril in play. Loss of use applies when a covered loss/claim causes the dwelling to be uninhabitable. Maintenance on a furnace is not a covered peril.

0 Votes

Columbia, Maryland

Quote from @Donald Paul:

We recently had a fire at our rental unit. The tenants are ok and had renter's insurance.

During the renovation quotes, asbestos was found and tested. Abatement is needed. We have Dryden Insurance with a VIP Plus Dwelling Package, Coverage/Form DFL-153P added to the policy. We are told this policy does not covered asbestos abatement.

Please note that we do have Ordinance or Law on this policy that will cover up to 2.5% of the Coverage a-Residence. But this does not cover the total cost of the abatement.

Here is what is shown in our policy? Would this cover the abatement. Thank you for any assistance.

Liability is for lawsuit/legal protection. Not your own rehab at your own property.

1 Vote

Buffalo, New York

Quote from @Lauren Lockett:

I'm currently looking for an STR policy as well. I'd get a quote from Steadily as mentioned, but Thimble is another one I read about in an AirDNA article. Hope it helps!

Thimble does not insure short term rentals. Or any habitational insurance for that matter. That article was probably written by "AI."

0 Votes

Quote from @Ken M.:

Quote from @Owen Rosen:

Quote from @Ken M.:

Quote from @Chris Wagner:

Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.

Once you even talk to your insurance agent about filing a claim, it gets entered into their claim adjustor's database for the whole insurance world to see, even if you decide not to file the claim. You rates go up even if you don't make the claim. I would not discuss a claim unless you intend on filing it.

This isn't necessarily the case

You can have that discussion with my agent. ;-)

Well I'm an agent so that won't be necessary.

1 Vote

Quote from @Ken M.:

Quote from @Chris Wagner:

Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.

This isn't necessarily the case

0 Votes

Quote from @Clint McMillian:

I know for a fact that a good number of my tenants have been faking/cancelling renter's insurance soon after getting approved for the lease. What are some ways I can verify that tenants are protected throughout the entire lease?

You should be added as an Additional Interest so that you receive notification of cancellation.

0 Votes

Quote from @Mary Jay:

Quote from @Owen Rosen:

Quote from @Mary Jay:

Hi guys,

1) So I have an insurance broker and it seems like the properties I have with him keeps getting inspected by the insurance companies.

Our house that we live in is with a different insurance broker, 10 min away from the other ones, and our house NEVER gets inspected by the insurances.

Roofs are the same age. Buildings are the same age.

Is it possible that the insurance brokers advises the insurance companies to do those inspections?

2) Also, any time there is some change he wants pictures of the roof and the building to be sent to him before he changes anything. For example, before he switches a policy from short term rental to long term rental he wants pictures.

Is it normal?

State Florida

3) Also, his policies keeps changing insurance companies probably once a year.

First it was with Citizens insuarnec, now with Menatee insurance, before Citizens it was SLide insurance...

He said Citizens changed my policy to Menatee.

How come Citizens does not change policy on the house we live in? We have had Citizens for the last few years...

Something is fishy...

1. Very likely no (how do you think this would benefit him?)

2. The insurance companies might require this. Is it a problem?

3. Did Citizens send a letter to this effect? I'm not an expert on Florida insurance but I know Citizens which is state-backed and grew too large is depopulating policies. They wouldn't just "change" policies without written notification.

You mention a key point at the end. You can't compare owner occupied to tenant occupied. Totally different policies and procedures.

Sounds like you don't trust your agent though. Why do you use him if that's the case? Have you asked him these questions? Have you asked your other agent?

As an aside, insurance companies are inspecting most properties one way or another in the current market. They may have even inspected your primary home without you knowing.

1) I have no idea. All I know is he keeps asking for pictures on the rental, while another insurance agent is not asking any pictures on other rentals that are near.

2) Why do the same insurance companies do not require for other rentals that are in the same shape/age that are with other insurance brokers?

3) I only live in one house, the other ones are rentals. So I am comparing rentals to rentals

1. Have you asked him?

2. I don't know what you mean by this

3. OK

I write insurance in many states and almost all new policies are being inspected in some way. Could be self inspection (photos) but it's not uncommon and most are done by third party inspection companies.

0 Votes

All Forum Posts by: Owen Rosen

Owen Rosen has started 0 posts and replied 486 times.

Post: How to deal with Insurance companies when HOA has imposed Special Assessments.

Post: How to deal with Insurance companies when HOA has imposed Special Assessments.

Post: How to deal with Insurance companies when HOA has imposed Special Assessments.

Post: Tenant Temporarily Without Heat Question

Post: Asbestos Abatement coverage on insurance policy.

Post: Aircover vs. Proper

Post: To claim for not to claim??

Post: To claim for not to claim??

Post: How do you verify that tenants have insurance?

Post: Insurance question-something fishy

Owen Rosen has started 0 posts and replied 486 times.

Rounded Star Post: How to deal with Insurance companies when HOA has imposed Special Assessments.

Rounded Star Post: How to deal with Insurance companies when HOA has imposed Special Assessments.

Rounded Star Post: How to deal with Insurance companies when HOA has imposed Special Assessments.

Rounded Star Post: Tenant Temporarily Without Heat Question

Rounded Star Post: Asbestos Abatement coverage on insurance policy.

Rounded Star Post: Aircover vs. Proper

Rounded Star Post: To claim for not to claim??

Rounded Star Post: To claim for not to claim??

Rounded Star Post: How do you verify that tenants have insurance?

Rounded Star Post: Insurance question-something fishy

Post: How to deal with Insurance companies when HOA has imposed Special Assessments.

Post: How to deal with Insurance companies when HOA has imposed Special Assessments.

Post: How to deal with Insurance companies when HOA has imposed Special Assessments.

Post: Tenant Temporarily Without Heat Question

Post: Asbestos Abatement coverage on insurance policy.

Post: Aircover vs. Proper

Post: To claim for not to claim??

Post: To claim for not to claim??

Post: How do you verify that tenants have insurance?

Post: Insurance question-something fishy