Updated about 12 years ago on . Most recent reply
insurance question on rentals, recent cancelled policy.
Don't know if I can mention the company. But on my most recent acquisition which I closed on 2 weeks ago. I got of course insurance on the property. The insurance has been paid, late last week, I get a cancellation notice, indicating the property was vacant(which was told upfront it wouldn't be occupied for 30 days) and that there was some stains on the roofs and they would no longer insure the property. Which I find ridiculous, their inspection was 2 days after closing of course the house was vacant , and on the roof, the roof passed inspection and is about 7-8 years old and I haven't seen any roofs(besides new) that don't have some stains or minor discoloration.
Obviously this is a loser company.
But my question to you is. I do not have enough properties yet to have an umbrella policy. What is a good company to look for insurance on rental properties, both on the structure and potential liability?
Thank you!
Most Popular Reply
If you have any military ties, I use USAA for everything I own. They are amazing. But have to be military-affiliated for them.