I'm used to the Brokerage having the E&O policy, but the agents have to pay the premium. 

The insurer says that the CC on file keeps getting denied.The borrower is failing to respond to calls/texts/emails/letters regarding the situation.The mortgage that was signed/recorded permits the lender to recover any charges associated with the need to apply this type of insurance policy, but doesn't specify how those charges are to be recoveredIn this example, the annual premium for the FPI that I (Lender) paid is roughly $1000.

I do not see a premium of a few thousand dollars or even $20k worth it to me.

They offer all the usual property management features, with some notable partnerships like accepting cash for rent at ATMs with something called Chime, and some sort of "premium maintenance" offering where you can sign up to get a handyman service.

Or is the rate on your mortgages higher than 5% + a lack of liquidity premium? 

@Cory J Thornton Do you use the Premium Turbo tenant? 

My Brightway agent was able to get me a policy under $1,000 whereas Lennar Insurance was closer to $1,250 for the premium. 

Take advantage of the seasonal tourist market premium.  

When you get your 11th property, get a policy then and up your premium to cover $1 million in liability.

Probably good to have one or two of these started early rather than later since the the premium will increase as you age due to health/age.