What Rental Investors should be asking when it comes to insurance
What Rental Investors should be asking when it comes to insurance:
–Named Insured – is your property in your Personal Name, LLC, Corporation or Trust – make sure your entities interest matches the named insured on your policy!
–Loss of Rents or Business Income – How much is your monthly rent? This can add up when you have a loss and are not able to collect. LOR does not reimburse you when your tenants do not pay the rents it reimburses you for your rental loss and extra express due to covered loss. For example, your property sustains fire damage and the property cannot be rented for 4 mo. The loss of rents coverage will reimburse you for the rental income you do not receive. Make sure your Insurance LOR is current with your monthly rents.
Landlords & Property Investors – Your Best Insurance is a Good Agent! Why not pick an Agent who Specializes in Rental/Investments Property Insurance? At Gillette Agency, our agents have 40+ years’ experience insuring Rentals/Vacant/Flips for investors.
Don’t be insurance Poor – Be insurance Smart and understand your rental property insurance – We can help you!