www.REIClub.com – Rental Property Insurance Is Essential For Your Real Estate Rentals. Here’s What You Need To Know About Insuring Rental Properties… Hi, this isFrank Chen with REIClub.com, the only site you need as a real estate investor. Today I’ve got quick video on rental property insurance. Intro to Rental Property Insurance The type of insurance coverage landlords need falls under the umbrella term “property and casualty insurance”. We also encourage Landlords to look into Liability insurance, which i’ll cover a bit later in the video. Homeowners insurance mainly focuses on the coverage for the contents of the house, as a Landlord, you don’t really need that. You need rental property insurance. Rental property insurance policies are written for structures that are four units or less. Anything above that, becomes a commercial risk, which requires a commercial policy.. The policy is written as a package policy, meaning that it covers a number of what insurance companies refer to as “perils.” These are things like… – Fire, Hail theft, tornado, hurricane, wind, and water. – Also covers detached structures on the property like a garage or a storage shed. Important to have the appropriate rental insurance Insurance companies assume… (some items require liability insurance in order to be covered) – the risk for damages to your property – Covers you against any injuries or accidents that may occur (Note The Landlord is liable if he is negligible. So anything, that you …
Video Rating: 5 / 5
good info. on video
Frank’s entire series is the best anywhere! Thank goodness Frank speaks the world’s fastest English. :->> He delivers ONLY the facts. Everywhere else, it’s anecdotes, testimonials and “success stories,” 50 mins video, 5 minutes info. Frank is 5 mins video, 60 mins info! To me, the ultimate compliment is the one that’s worthy here: if I were going to tell other people how to invest in real estate, Frank’s way is exactly the way I’d do it. THANK YOU, SO MUCH!
looking for a rental insurance that would cover the theft and lost stuff suck like laptop, TV..etc. I live in apartment.
Great video. I am an insurance agent and have a few videos dedicated to some of the topics covered here. This is what people need to know. The water shut off valve location for tenants is key! Landlords should also ask about vacancy exclusions in their policy. If your home is empty for 30 days or 60 days it can change the covered perils.
How do you feel abou umbrella insurance? Is it worth it?
I’ve been really looking into rental property and had no idea what to expect when it came to insurance. This video was really very helpful
Thanks for a great informational video! We have tenants in a home we could not sell when we had to move from TN to TX. We do have rental insurance, but not sure if the tenants have their own renters’ insurance. Something to double check!
very informative thanks frank
I have watched this video and others from your channel and this makes me want to get back into the real estate investing market. You have me motivated!
Thanks for all the helpful information here 🙂
This really helps clear things up for me–I learned a lot about rental property insurance here.
You are very clear on these explanations of property insurance-nicely done
Hi Frank, great video! Very informative! Here’s a newbie question, how do you analyze properties to see if they are actually deals?
If the property value has gone down will the insurance rates drop coorespondingly?
Great advice to follow up on concerning R.E. investing.