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Real Estate Investor Insurance

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Real Estate Investor Insurance
Provided By Our Agency

Real estate investing is rewarding; however, like all other investments, it has some risks. The key to success in this endeavor is the proper insurance which will help protect your investment property from those risks while providing peace of mind.

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Physical Structure
Liabilities
Equipment breakdown
Fair rental value
Ordinance of law

Physical structure coverage

Risk Factors

If a storm damages an apartment building’s roof, the owner can file a claim against their physical structure coverage.

Solution

This type of coverage protects the building’s structure, like its foundation, roof and walls. It also covers detached structures on the property, like garages and maintenance buildings.

Liability coverage

Risk Factors

You may need to pay medical expenses and legal costs when a tenant, customer of a tenant, or guest at a residential property sustains an injury.

Solution

Typically, this type of coverage doesn’t cover the everyday misfortunes of tenants, such as a tenant slipping and falling in his kitchen. But if a leaky roof causes a guest to slip and fall in a common area such as a lobby, liability coverage can pay medical costs and legal bills.

Equipment breakdown coverage

Risk Factors

Landlords can face big repair and replacement costs if a power surge damages a building's electrical system, a grass cutting machine, or a heating boiler explodes.

Solution

Equipment breakdown coverage can help a landlord repair or replace damaged equipment.

Fair rental value coverage

Risk Factors

While tenants move out of the office building due to the tornado damage, the landlord needs to pay for its repairs.

Solution

This type of coverage can help pay for lost rental income if a building becomes uninhabitable due to a covered loss. For instance, if tenants must move out of an office building to repair tornado damage, fair rental value coverage can reimburse the landlord for a portion of the lost rental income.

Ordinance of law coverage

Risk Factors

Oftentimes, older rental properties don’t meet current building codes.

Solution

If a property sustains a covered structural loss, ordinance of law coverage can help cover the additional cost of reconstructing the building to meet the current codes.

What is Real Estate Investor Insurance?

Real Estate Investor Insurance is coverage designed to protect property managers, family offices and trusts, and individual and corporate real estate investors. Sometimes called "landlord insurance," investment property insurance can be applied to different types of owned rental properties. Real Estate Investor Insurance takes a simplified approach to ensuring investor property portfolios.

What are the coverages offered in Real Estate Investor Insurance?

Under-insuring an investment property, over-insuring an investment property or having the wrong types of insurance on the investment property can all produce disastrous results. Here are some coverages you should consider:
  • Property and General Liability
  • Workers Compensation Insurance
  • Flood
  • Wind/Hail
  • Earthquake
 

The Cost of Real Estate Investor Insurance

There’s not one general price range for all Real Estate Investor Insurance policies, since the price varies greatly depending on the type, condition, size, and location of the property, the owner, and previous claims filed against the property or owner.

Having the right insurance for your real estate can help protect you against large, unexpected losses while keeping your cash flow healthy by not paying for coverage you don’t need.

It’s important to understand your existing policies and have a trusted insurance agent as part of your real estate team to understand if your insurance coverage needs to be upgraded. If you’re under-insured when a disaster strikes, it’s usually too late to make a change.

Contact us today to know more!

Already have Real Estate Investor Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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The Insurance Doctor

The Insurance Doctor Provides Personal Insurance, Business Insurance to All of New Hampshire, Including Manchester, Concord, Bedford, Goffstown, Nashua, Merrimack, Rochester, and Portsmouth.
453 Second Street Manchester, New Hampshire 03102
Mon-Fri : 8:30am - 4:30pm
Sat-Sun : Closed
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(603) 647-5617
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