Multi-State Blanket Hazard and Umbrella Insurance

[Darsh Makim]

Hey BP! I was curious if anyone had a good contact for Insurance. I have properties in multiple states (VA, PA, MA, etc) and was looking for a blanket policy for homeowners insurance that would allow me to leverage my rentals in different states. Also, if anyone has any feedback on other insurances (rental income insurance), and tips while gathering bids would be welcome.

[Jason Bott]

@Darsh Makim there are so many options it would be hard to list them all.

1)  There are several insurance programs out there you can try if your portfolio consists of 1-4 unit buildings.  These are not insurance carriers, but programs that group several insurance carriers together to create a product fit for investor portfolios.  Benefit to these programs is they usually cover the entire US.

2)  Region insurance carriers (limited to 5-10 states usually) are a good option but may limit you if you decide to continue to expand into additional states.  The benefit is that you have 1 company handling underwriting, claims, billing, etc.

3)  Commercial Package Program.  This policy is very similar to #1, but will not have some of the additional bells and whistles that option #1 can provide.