All Forum Posts by: Rod Hanks

Hello, I can help. Been helping investors with insurance since 1999. 

I'm in DFW but licensed in multiple states. Been doing investor insurance since 1999. Hit me up if need coverage for your properties. I'm in Longview at least every month btw visiting my elderly inlaws. 

Hard pass for golf cart rental. Have them sign a waiver if you insist on allowing access to your cart. It would not be worth the cost for a liability policy for just one golf cart. If you had a fleet it would make sense. 

Insuring the property under your LLC while the loan is still in your personal name can cause issues with your lender. Most mortgages require the insurance to match the name on the loan, so if your policy is only under the LLC, the lender may consider it a violation of the loan terms. A common workaround is to list both yourself and the LLC as named insureds on the policy. This way, you’re protecting your lender’s interest while keeping your LLC structure intact.

We’re independent agents and can help.

We can help!

Does your tenant have renters insurance? If so, that's a liability claim under their property damage. If not, chalk up as a lesson to always require upon move in. Your rental dwelling policy will cover if you have water damage coverage. Talk to your insurance agent and he will advise what coverage if any you have for that claim. Make sure that you tell your agent you are not filing a claim you just have a question about coverage. Then decide if it is worth filing a claim after you have the information. Water can be tricky if not dried out quickly which can cause a lot of other problems. 

We can help!

Try your state fair plan. It's limited coverage but might be your only option. 

 Their requirements are a window and a closet and at least 70sf. 

I think that would move your offer to the bottom of the pile. Get an idea of what the insurance and taxes would cost before you submit an offer.