STAY AWAY FROM NREIG (National Real Estate Insurance Group)

[Josh Miller]

I'm too young to have a heart attack but that's what I just went through dealing with NREIG.  Long story short I'm getting a portfolio loan through LimaOneCapital and they have some pretty specific request when it comes to insurance policies.  One of the requests was that I get an official invoice for any outstanding balance for each property. Well, 14 days later and 14 requests later I still don't have it and still can't close on my refinance deal.   Actually, it's been 14 written request and probably the same number of phone calls trying to get it.  I was on the phone with one representative and it took her 30 seconds to generate the report for a single property but when I asked for the same report for the other properties, she said I could only get it from my representative.  

Besides this one case, the only other negative experience I had was in trying to file a claim.  It didn't work out so well but I understand certain aspects are out of their control.  Regardless, I would highly recommend paying the extra few bucks other insurance companies charge and go with an Insurance provider that gets you what you need when you need it.  

[Casey J Burkhead]

Not that it helps you with your current situation but that's just one of the benefits of having an independent agent handle your policies.  When you work directly with the insurance company, you as the client are the one having to do the leg work in regards to the servicing.  With an independent agent who works for you and not the insurance company, those types of situations are handled a lot more smoothly behind the scenes while you worry about other investment property concerns.  And NREIG is by no means always the lowest priced.  There are plenty of property package carriers that are just as competitive and can be purchased through an IA.