What's NOT working in landlord insurance

[Account Closed]

Hi everyone, I work for a new carrier focused on rental apartments (single and multi-family properties).

We're on a mission to create a better insurance product for landlords/real estate investors. 

What do you think needs to be improved besides the obvious premium price?

[Jeff Costa]

I would appreciate the ability to obtain a quote for an investment property in a fast, automated fashion. Today this involves sending an email to a vendor and waiting for a return email with details and a quote. I would appreciate a website where I could put in the address, let you pull the details of the property and create an estimated quote based on the characteristics of the property - returned in minutes and without talking to anyone.

Context: I am putting together a pro-forma spreadsheet to evaluate a deal. Offers have a timing element, where delivering the offer to the seller faster is better. To get to that offer, I need to quickly build my pro-forma, which includes a quote for insurance costs. The faster I can get an accurate insurance quote into my estimate, the more time I have to review the pro-forma, and determine if I want to make an offer. This enables me to be more competitive in the market, and helps me trust my numbers. The alternative is using my own "guesstimate" based on previous deals I have done.