All Forum Posts by: Tim Norris

@derek lacy

We do utilize this:  http://www.rentfaxpro.com/.  Though, as to which you alluded, the Special form availability, though limited, comes at a higher cost.  

Best regards,

Tim

Actually, we offer Special form coverage in many/most parts of Michigan.  Of course, Detroit, as most know, presents unique challenges for insurance for those who invest there.  We are actually one of the few remaining to offer coverage at all in Detroit, albeit on the aforementioned Basic form.  I believe some insurers are considering going back, but not sure when/if this will happen.  Frankly, these decisions are controlled by the insurance company(ies) more so than the Agency/Program.  Their directives are driven by profit.  If they can't make a profit, they won't offer coverage there.  When the Fire Commissioner promulgated his "let it burn" philosophy on vacant structures in Detroit back in 2012, it caused even greater pause for the insurance industry, as well.  Granted, I'm just explaining here, not justifying.  Hope this helps.

FYI, our licensing info is of public record here:  

http://www.dleg.state.mi.us/fis/ind_srch/ins_agcy/insurance_agency_detail.asp?id=0105174

Hey Jeff, Depends on coverage options and deductibles, but $1000 is likely on the high side, assuming an occupied rental. So when builder your pro-forma, you'd be more than safe to use that figure. Tim

Mike Wire --- Most insurance companies that insure non-owner occupied locations do in fact offer liability coverage when they are owned by an LLC. It may be that you have heard this from "personal lines" insurers (think carriers like State Farm, Allstate, et.al.). Typically, such companies have limited offerings for RE investors like us. Keep looking, they're out there... ; ) My two cents, at least. TN

Hi all,

Sorry for delayed reply.  As has already been mentioned or alluded, Houston is a tough market for insurance.  Though Ike didn't do nearly as much damage as many think, it still has ramifications on costs there.  As an investor, I am not adverse to risk, so higher deductibles are fine by me and statistically are better for insureds as well.  Hope this brief info helps.

Waylon---NEVER heard of that 50 point "ding"...wow!

Thanks!

Tim

Your insurance Agent or Company can provide this on request, usually in a matter of minutes via email or fax. Shouldn't be difficult at all to obtain. If it is "your" coverage, do you not know the insurer or Agent? I would assume you've paid for it?

No, since the info is "private", no way to really find it in the public domain. Your insurance Agent or Company can provide this on request, usually in a matter of minutes via email or fax. Shouldn't be difficult at all to obtain.

Your insurance Agent or Company can provide this on request, usually in a matter of minutes via email or fax. Shouldn't be difficult at all to obtain.

Thanks, Curtis...  As for canceling the other policy, obviously up to you, but may be worth keeping for the few weeks, "just in case"...

Sounds good.  Yes, we handle all 50 states, too.  Have a great night!