Having a landlord policy is a must have when it comes to owning real estate properties. It is important to be covered in case something happens that could cost thousands of dollars.
When I first obtained ownership of my rental property, that was the first thing I purchased.
I remember the day I met with the insurance agent. She was an investor herself and she understood that it was an investment property for me. I believe I reached out to her when I was looking for a property manager, not knowing at the time that she sold insurance.
I’ve been with this company for about 3 years now. I never filed a claim and I made my payments on time because I set autopay with them.
So I was very shocked when I received this letter, not once, but twice. Yes, they sent me two copies of the same letter to the same address.
As shocking as this was, I understand that these things happen and lucky for me, I am resourceful enough to find another company.
I requested quotes from 3 companies and only 1 of them actually gave me a quote. So, of course, I went with that not only do I love and trust, but a company that I already have a relationship with.
I wrote this post because I know even everyday homeowners are getting dropped by their primary homeowners insurance companies. Hopefully this will bring more awareness to this situation and let my readers know that you are not alone and there are options for you. You will need to do your research to find the right company for you, but it is doable.