Insurance for rental property portfolio in NE Ohio

[Tony Guardado]

Looking for the best insurance solution for a 100 property rental portfolio in NE Ohio (Canton).

Have a mix now between State Farm and NREIG

[James Wise]

Originally posted by @Tony Guardado:

Looking for the best insurance solution for a 100 property rental portfolio in NE Ohio (Canton).

Have a mix now between State Farm and NREIG

 Definitely cheaper options out there than those two companies. I work with both American Modern and Foremost on rentals and both should be much cheaper than either of those two.

[Remington Lyman]

Originally posted by @Tony Guardado:

Looking for the best insurance solution for a 100 property rental portfolio in NE Ohio (Canton).

Have a mix now between State Farm and NREIG

I can refer you to some insurance companies I work with. I own a portfolio of rentals in Columbus, Ohio

[Jason Bott]

@Tony Guardado there are are a ton of master policy options you can consider.  Your best option will depend on what your priorities are.

Does your lender have specific coverage requirements?

Looking for the most automated option?

Do you want robust coverage or lowest values possible?

Depending on your answers above will dictate which program will have the best solution for you.  I will DM you some of the options my clients use.

[Kyle Mccaw]

@Tony Guardado at that level be sure to look a getting a commercial policy. Economies of scale will be your friend. FYI I have had a bad experience with NREIG a few years ago. Hopefully they are better now. 

[Tony Guardado]

Originally posted by @Kyle Mccaw:

@Tony Guardado at that level be sure to look a getting a commercial policy. Economies of scale will be your friend. FYI I have had a bad experience with NREIG a few years ago. Hopefully they are better now. 

 Interesting - I started using them just because it was "easy" to do and set up.  I have NOT filed any claims with them to date.  Any suggestions for who to use for a commercial policy

[Kyle Mccaw]

I use an independent broker in Texas. I've heard good things about State Farm but they only have one project, the State Farm policy. A broker can shop the market for the best option. I used NREIG for the same reason. Seemed easy to sign up with. However the had difficulty processing any requests much less paying on claims.

[Adam Zdunek]

Just sent you a dm

[Justin Igoe]

NREIG is the worst. Absolutely horrible. I'll make a detailed post at some point but don't have the time right now.

[Tony Guardado]

@James Wise

I have started to use Foremost now.

What specific coverages do you have?

[Courtney Urbanek]

Quote from @Justin Igoe:

NREIG is the worst. Absolutely horrible. I'll make a detailed post at some point but don't have the time right now.

Justin, we apologize your experience with us hasn't been the greatest. We never want our clients to feel this way. I have sent you a connection request to see if there is something we can do to resolve any issues.

[Justin Igoe]

Courtney,

At least 3 separate times within the last year NREIG deposited my escrow checks in the thousands of dollars into inactive accounts that were hidden from me. Thousands of dollars of my money hidden from me that I didn't even know I had because it's not shown anywhere on monthly statements. 3 times in a row is no coincidence. 

I sensed that money was disappearing so I spent many hours reviewing my mortgage escrow accounts and HUD statements etc and saw that thousands of dollars were missing/disappearing! If I didn't do this deep dive into my mortgage escrows, HUDs etc I would've never known and they would've kept my money forever!!

I reiterate that not once did NREIG notify me that I had thousands of dollars hidden for over a year in inactive accounts. I had to catch them before they even acknowledged it. Once I caught them they just say ok we'll refund you, with no apology or accountability, like it's no big deal. Not only that but they continued to deposit my escrow checks into these same inactive accounts. If an account is inactive how is it even possible to deposit checks into it??!!!  

Nobody there at NREIG seems to care at all. Courtney's reply here is the most concern anyone at NREIG has shown regarding their disgraceful conduct.

[Courtney Urbanek]

[Courtney Urbanek]

Quote from @Justin Igoe:

Courtney,

At least 3 separate times within the last year NREIG deposited my escrow checks in the thousands of dollars into inactive accounts that were hidden from me. Thousands of dollars of my money hidden from me that I didn't even know I had because it's not shown anywhere on monthly statements. 3 times in a row is no coincidence. 

I sensed that money was disappearing so I spent many hours reviewing my mortgage escrow accounts and HUD statements etc and saw that thousands of dollars were missing/disappearing! If I didn't do this deep dive into my mortgage escrows, HUDs etc I would've never known and they would've kept my money forever!!

I reiterate that not once did NREIG notify me that I had thousands of dollars hidden for over a year in inactive accounts. I had to catch them before they even acknowledged it. Once I caught them they just say ok we'll refund you, with no apology or accountability, like it's no big deal. Not only that but they continued to deposit my escrow checks into these same inactive accounts. If an account is inactive how is it even possible to deposit checks into it??!!!  

Nobody there at NREIG seems to care at all. Courtney's reply here is the most concern anyone at NREIG has shown regarding their disgraceful conduct.

We take managing client funds seriously, and maintaining the trust of our clients is incredibly important. I want to again apologize for your experience and can assure you that I will be sharing this with the team so these types of errors can be avoided in the future.