REInsurePro’s Program is unique, and as such, we understand that it may be challenging for your investor clients to understand what our role is in insuring their properties. The outline below can be used to help you answer client questions about REInsurePro’s responsibilities.
What is REInsurePro?
REInsurePro is an Insurance Program Manager serving independent insurance agents, like myself, with residential real estate investor clients. REInsurePro partners with insurance carriers that have the appetite for risk in the REI space and ultimately take on said risks by underwriting coverage. Through their carrier partners, REInsurePro is granted the authority to bind coverage within the guidelines provided. Their Program provides me with access to customizable insurance packages and the technology to quote, bind, and service my clients.
How does REInsurePro’s Program benefit me as an investor?
Insurance companies in the property space consider investment property coverage extremely high risk. Tenants of rental properties tend to take less care of a home than the owner would, and properties undergoing renovation or sitting vacant come with their own risk exposures. As such, it can be difficult for insurance agents to find comprehensive coverage at competitive rates for their investor clients. Insurance agents and their investor clients often face additional challenges and fees due to frequent changes in occupancy status and property portfolios.
Because REInsurePro is a specialized insurance Program developed specifically for residential real estate investing, they fully understand the unique risks and needs of investors and their properties. The REInsurePro Program can accommodate tenant-occupied, vacant, renovation, and new construction locations. With the ability to house all your properties on one monthly schedule, you can seamlessly add, edit, and delete properties from your account as needed. Coverage with REInsurePro is month-to-month, so you only pay for coverage each month it is needed with no minimum-earned premiums or long-term contracts.
Please inform clients, that REInsurePro does not prorate to the day. Regardless of the number of days in a given month, the insureds had coverage, and the full premium amount for that month is due.
So, who is my point of contact? You or REInsurePro?
If you have questions or concerns about your coverage, billing, etc., please contact me, your agent. REInsurePro empowers appointed agents to provide personalized support and assistance to meet the unique needs of each investor, they do not handle client inquiries.
Additional Resources:
Helping Investor Clients Choose Between Basic & Special Form Coverage
