VACANT PROPERTY DAMAGE BY VANDALS
REI Resolution: Upon notification of the damage, will see to the claim being properly adjusted in a timely fashion so that the owner can receive the payout necessary to repair the home and make it rent-ready.
TENANT SLIPS AND FALLS ON FAULTY STEP
REI Resolution: Will pay initial medical damages incurred by the tenant. If bodily injury is significant and suit is threatened, coverage will offer defense and protection from potential damaging settlement that could threaten the entirety of the investor’s business.
Real Estate Investor (REI) insurance is ideal for investors with five or more properties in their portfolio who are looking to protect their properties with a single policy.
REI allows for the addition and deletion of homes from the portfolio during the year on the inforce contract with premium (both additional and return) calculated to the day of the change.
|Target classes||1-4 unit dwellings
|Ineligible classes||Condo associations
|Special perils coverage form||Commercial General Liability coverage|
|Replacement cost coverage – no coinsurance||Written as a Per Property or Per Policy aggregate|
|Includes coverage for loss of rents and business personal property when requested||Additional coverage for losses due to pools, pets and other generally excluded perils available|
|Property Limits up to $2 Million, per property
(actual coverage is for stated limit of each property)
|Basic limits include $1 million per occurrence, $2 million general aggregate, and $5,000 med pay|
|Deductibles ranging from $2,500 to $25,000
(With separate deductibles for losses due to wind and hail)
|Flat rated per property annual|
|Sub-limits available for mold and sewer backup||Will allow limited subsidized tenants|
|Vacant properties eligible|