Based in Los Angeles, California, Peter Kohly Insurance Agency has been serving the community since 1980. Known for trusted expertise and exceptional client service, the agency has demonstrated a long-standing commitment to protecting investors and their properties. We spoke with owner Peter Kohly to learn more about the agency’s approach, values, and what’s driving their continued success.
What are the biggest challenges you are seeing in the market for your investor clients and how is your team advising them through those challenges?
A few years ago, insurance was fairly standard. For the most part, investors were able to obtain coverage easily and often selected policies based on price. Today’s insurance landscape is much more challenging, with investors’ main focus on finding an agent with market access to actually get coverage placed.
How has your approach to working with investors evolved over time?
In the past, we relied heavily on wholesalers for tougher risks. Today, we’ve taken a more hands on approach. Keeping track of rates and underwriting rules so we can advise investors on likely pricing and terms before we even quote.
What sets your agency apart in the real estate investment insurance space?
We believe insurance should support the investment – not the other way around.
How does REInsurePro help your team in working with investors?
Speed and efficiency. I have never waited more than 48 hours to get a quote from REInsurePro. I’ve had multiple instances where a competing agent’s quote was a lower cost, but the investor chose to work with me because I got them a quote the same day vs their other agent taking 3-4 weeks.
What steps does your team take to educate clients about their policies and options?
We help clients understand key concepts like how insured value differs from market value so they’re not under- or over-insuring their assets. We also emphasize that insurance is meant for major losses and advise against using it for minor repairs that could drive up premiums or impact coverage.
What advice would you give other REIP agents?
Most investors are with agents who don’t specialize in investment properties. This hard market is your chance to set yourself apart.
Thank you for your partnership, and congratulations on REInsurePro October Agency of the Month!
