A renewal statement comes in the mail, I open it, there is no property addresss.. just a policy number. So I pull up my laptop and find my insurance spreadsheet to figure out which property it is for…
I need a quote on a potential property purchase, I call my broker, he says he’ll shop it and get back to me. Im waiting on the quote…
I sold a property.. and I need to cancel the policy. I send in an email for cancellation and then have to email once again to “confirm” it. 3 emails later and its finally cancelled.
I have insurances due on different times, with different amounts. Some are annual premiums, some monthly, etc etc.
I need a mobile home insured…. and its hard to get it insured etc etc
These are all issues that I had about 2 years ago, and many people still have. I liked the insurance broker that I used at the time, I would consider him a friend. But my gosh was insurance such a pain in the rear. I run a business and I need things to be easy.
I finally found National Real Estate Insurance Group (NREIG) . Its the easiest most convenient insurance company I have found, and I have asked around to others and the people I know that use them all agree.
When I need to add a property, I just login to my account, fill out a quick form, and boom, I get a letter of coverage that same day or the next day at the latest. If I need to cancel a property, its the same thing. Log in, choose the property, select cancel, and its done. Less than 2 minutes.
If I need a quote I can typically get that just as easy. If I need to cover rentals, rehabs, mobile homes, multi’s, etc etc.. the process is all the same and they cover it all.
If a property is covered less than 30 days and I request a cancellation before the billing cycle is due, they will drop it and I don’t even have to pay for that property.
My properties are paid monthly, and they are all in the same place, paid at the exact same time automatically, and I can see everything I need to see about them with one simple login.
When I have lenders, I just add the lender’s contact info and email, and they automatically get the coverage letter directly. I can choose bank lender or private lender.
Before the next monthly premium bill is about to be drafted, NREIG will send an email reminding me to update any properties that I need to update… (anything that needs to be cancelled) so that my billing is accurate.
And to top it all off, most of the time I don’t even do all of this myself. I have an assistant who adds and cancels properties for me by using my login.
Its the easiest most hassle free set up I have found. And their rates are very competitive. But frankly, even if I can save by having various insurance companies and agents, how much is convenience actually worth?
Its called NREIG and you should check them out yourself. I just figured Id share
Happy Investing
-Justin