• kinggeorgewashington

    Hi Jeremy, I have a property in Lava zone 2 in Hawaii. I was going to sell it , but due to the Lava flow about 20 miles away, I want to rent it. Unfortunately a lot of good people lost homes.
    I was wondering if I can just get liability insurance. Just in case somebody gets hurt on the property. I think fire insurance is out of the question right now although I do have full coverage on the house until October. Fortunately the Lava is not coming my way LOL.

    I did subscribe and if you don't know or don't answer don't worry about it. Aloha.

    I enjoyed the video.
    Thank you,

  • Curt Smith

    This fellow is nice enough but without a doubt as he said he is an agent and DID NOT tell us about how to tune our coverage and policy premium costs via;

    – ACV actual coverage value; IE you buy a rental for $100k, the agents replacement cost calculator is extremely rigged for insane costs comes up with replacement cost at $200k. Real example. This is crazy, yoiur $100k included $20k for land, the insurance calc for replacement cost BSs us owners with a number that we think may be reasonable, but the $200k is just for the structure. No way a 1400sqft simple house takes $200k to rebuild. I go with ACV at 80% of zestimate.

    – Deductable he DID give good advice about going as high as possible $5k at least. But if you have a bank loan they want less then 3% deductable which for $100k house means $2500 deductable.

    – Liability get the highest they offer.

    – This is big; there are insurance co's that do not inspect. Its true, some who cater to landlords exclusively do not inspect!!! If your ins co inspects and mails you a Drop Letter, dump those guys and find a carrier that does not inspect. The national brands are tuned for Occupants not landlords. In the end I predict you'll move all your rentals to a "blanket" style insurer who is tuned for big time landlords. No inspection, monthly ACH auto billing etc all the conviences that running a real business needs. American Family offers $2M liability but the others are mainly a PIA.

    – If you have a bunch of rentals in cash, no loan and escrow paying the insurance, you do not want a bunch of $1k insurance payments all coming out at the same month. Monthly auto debit is the way to go for a bunch of cash owned houses!!

    I'm hearing from new landlords buying rentals in my REIA that the national carriers are upping their new policy underwriting to much MUCH higher premiums. Your only recourse is to move from RCV replacement cost to ACV actual cost and YOU pick the insured amount. Drop loss of income (rent) and up deductable, but always max out their liability offered. Dump a carrier that does not offer $1M liability.

    Insurance is not a take it or leave it number. Theres alot you can tune if you are only helped by the agent…. Today there's up to a 2x variance between carriers. Hard to believe one quoted: $1995, another $920…. Just crazy.

  • Charlie Buckets

    Hi Jeremy …. I rent a house in upstate ny and have lived here for 5 years… During this time the landlord has been promising to fix the bad drainage situation in our driveway …. .Two days ago i was bringing the garbage cans in and all the sudden the ground underneath me disintegrated and i fell 6-8 feet into a sinkhole ,,,, Emergency services needed to rescue me from the hole and took me to the er .. i strained my back knee wrist ect .. The ambulance and er bill are prolly going to be $2500 … who is responsible for this bill … wouldn't it be the owner because they did nothing to fix the water problems that they were well aware of ….. they told me they were going to install french drain when we brought it to their attention 5 years ago…… Any help would be appreciated…. THANK YOU

  • Qinghong Cheng

    Hi Jeremy:
    I like your video, thank you!
    Have question, my tenant water flooded from laundry washer machine to bathroom and a bedroom, of course within laundry room. This should be tenant’s responsibility or I should be claim to my insurance, this happened 2 weeks ago, I didn’t see any damage so far but tenant keep ask me to dry out and clean the mildew smell ( she said has smell , I did not smell anything) and I bought a wet/dry machine to dry out the each area has been flooded, I should be talk to me insurance company for my responsibility? Thank you!

  • Marisol Villarreal

    Thank you for your video. My landlord has maintenance work to be completed in my unit do to a leak from a tenant above my unit. My landlord has advised that I will have to vacate my unit for a few days while the work is to be performed. Is he responsible to pay for the out of pocket expenses (lodging & food) while my unit is uninhabitable? He is telling me I need to file a claim with my Renters Insurance. Thank you in advance.

  • KC Hardway

    Hey I just say a new charge on top of my rent it says liability to landlord insurance! Can they just start charging me for this? After going back and forth with them to try to get the black mold growing around all of our vents some one did come out and “test” it but we’ve heard nothing back from them… now this. Idk.

  • Robert M.

    super informative video. thanks for sharing I know now how to insure my first property and what to look for!!

  • M P

    Jeremy, please help answer my question. I discover mold after I close on the house. The sellers did not provide a disclosure by stating they have never lived in the property. So far, the repair cost is over $25,000. I filed a claim two weeks after closing, and the insurance company denied it as pre-existing condition. Is that a good reason for denial?

  • Ronald Fuller

    Is the landlords responsible for paying water bill and garbage pick. In apartment renter never pay these bills.

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