Insurance for real estate owners and landlords
When property costs rise and carriers pull back, owners are left with fewer choices at higher prices. A broker who can place pieces of the package in different markets keeps the cost in line.
What to watch for
Property rate increases. Many carriers have raised property rates or stopped writing it, which pushes business toward the wholesale market.
Gaps in the portfolio
Some owners drop coverage on a property because of the cost. That leaves the whole portfolio exposed.
Lease terms
What the tenant carries and what you carry should be spelled out.
Higher limits
Owners with several properties often need an umbrella over the whole portfolio.
Coverage for this business
Every business is placed a little differently. These are the policies we talk through most often, and a conversation with Kristi will tell you which ones your business actually needs.
Property
The buildings themselves, written where the market will take them.
General liability
Tenant and visitor injuries.
Loss of rents
Income while a covered loss is repaired.
Umbrella
Higher limits above property and liability.
Professional liability
For agents and property managers.
The landlord with two uninsured rentals
Two business owners recently came to us with multiple commercial and rental properties. In one case, two residential rentals had no property coverage because the cost had gone through the roof. We placed the general liability in one market and the property in another, where the two rarely affect each other. The owner brought those rentals back into the portfolio, protected.
Questions we hear
The short versions of conversations Kristi has with business owners every week.
Why split general liability and property?
When you buy both from one carrier, the property price drives the package. Splitting them lets you shop each piece where it fits best.
What is the wholesale market?
A group of insurers, usually non-admitted, that write risks the standard market will not or cannot. A broker with access places the business there.
Is it safe to go without property coverage on one rental?
It leaves you responsible for the full loss. Talk to us about the options first.
Ready to have someone in your corner?
Book a free consultation. We’ll walk through your business, identify the gaps, and build a strategy that actually fits.