Liability Insurance for Investment Properties.

Real Estate Agent with Frank Rubi Real Estate

I received a certified letter from my insurance agent last week informing me that I didn't have any liability insurance on my rental property.  How could this be?  I have had this policy for two years.  I know I had it the first year but not now?  I admit I didn't read the policy very well upon renewal.  I am sure the mortgage company wouldn't be pleased.

After telling my story to fellow active rainer Frank Rubi he told me to check with my homeowners policy.  How nice.  For next to nothing I now have liability insurance once again.  If you or your clients own investment property, you may want to check with your homeowners policy for additional coverage, etc.  I don't believe this would apply to commercial properties, only residential.

Thanks Frank.

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Toula Rosebrock
Diane Turton, Realtors, Forked River, NJ - Lacey Township, NJ
Broker/Sales Associate, Realtor, Lacey Township,

ToulaRosebrock.comHi John:

That's a great tip!

Why pay for an extra policy...

Mar 08, 2009 12:14 AM #1
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

John, thanks for the information.  Are you having as many insurance issues in LA as we are in FL.  A result of the hurricanes from way back in 2004.

Mar 08, 2009 12:34 AM #2
Home Loan Search.Online
Home Loan Search Online - Newnan, GA

Thanks for the tip. I've dealt with many investors facing this policy issue.

Mar 09, 2009 02:00 AM #3
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

Hi John, this is a real cost saving option...I believe you are right....does not work for commercial.  Nice post John.

Mar 09, 2009 02:20 AM #4
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA

john, thanks for the memtion. Now if I can get all my moving complete and doing this closing schedule for friday the 13th I will be fine.

Mar 09, 2009 03:44 PM #5
Todd Clark
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

I also have an umbrella policy that covers all my properties just in case something major happens.


Mar 15, 2009 08:24 PM #6
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John Walters

Licensed in Louisiana
Whats my home worth?

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