Rental Property Insurance

[Tristam Griffith]

Hello all. One of my clients just got a really simple claim turned down by his Berkshire Hathaway owner's policy. 

Someone broke in, and cut all the electric out of the basement. Berkshire said theft isn't covered, but vandalism is. So, if these bozo's would have cut all the wire, and left it on the ground it would be covered, but since they took it, it's not. This seems insane to me. 

I have Nationwide Commercial on my own stuff, but that only makes sense if you have 10 or more properties. We did a full round of interviews with several carriers about 36 months ago, and chose Berkshire based on that research-which obviously didn't pan out!

What is the best, least expensive, policy for a landlord with 2 or 3 houses?? Does anyone know of a checklist of coverages that we should confirm prior to choosing a policy? 

I'm starting to research it now, but any input would be greatly appreciated! We operate a PM business in Columbus, Oh.

[Jason Bott]

Originally posted by @Tristam Griffith:

@Jason Bott.

Thank you for the answer. The long term tenant had moved out 2 days prior. So, it was vacant, but only for 2 days. It would have been re-rented within 21 days. It just needed touch up paint and carpet cleaning. 

@Ryan Ingram

Please message me more info on Wayne Insurance Group. I'm open to any suggestions. I'm going to check Allstate as a previous poster suggested too. 

 Tristam, thanks for the details.  Sounds like your client had gone with Basic form coverage.  No matter which insurance carrier your client picked, if you have Basic form, this claim is typically excluded.

Make sure your client asks for Special form coverage from Berkshire or the next company and you will have solved the issue.

Good luck.