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Kind of a two-part question:
a) Many insurance companies require your premary residence policy to be with them in order to insure your rental property. Which company do you have your policy with and do they have this requirement?
b) I've had 3 water damage claims to my property in the past 2 years. Now my insurance company is not renewing my insurance. Anyone know of lienient insurance companies that I may be able to get a policy from considering this claims history? My CLUE report shows all the properties I own and none of the other properties have had any claims, just this one stuburn property which the last claim (third one) was put in because the person at fault refused to pay the damages eventhough it wasn't my fault (company is still going after the claimant through legal channels).
Mine was with State Farm, but I just saved about $200 by changing to Safeco. Saved around $1,100 total by changing my policies for home, landlord and 2 automobiles from State Farm to Safeco.
Our home is with State Farm. Our rental in CA is through an insurance broker, and I think the actual insurance is with Mercury now. Our rentals in AZ are through an insurance company called Country Financial.
If your rental is in CA, I'd recommend going to the Apartment Owners Association website and looking at insurance brokers who advertise with them (you can also look up AOA's past magazines, which will have insurance broker ads). Much easier than trying to call a bunch of insurance companies yourself, just call a couple of brokers, they have access to lots of insurance companies.
If your rental is in AZ (you mentioned CLUE report), you can do a similar thing as for CA, as AZ has their own version of AOA, but I forgot the name. Just google search for AZ apartment owners association or something, and look up brokers and companies out there.
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