|Posted by [email protected] on April 13, 2012 at 8:20 AM|
A lot of people get concerned when they are asked by their rental property manager to add them as Additional Insured on to their insurance policy. They worry about having their insurance canceled or the price of the insurance plan to go up on their rental property. However, neither is true and don't allow your insurer to try and sell you into adjusting the policy higher. Here's some feedback I received from my rental property insurance company, USAA. (They are pretty good, check them out at www.usaa.com.)
"We received your message regarding adding a property manager to your fire policy as an additional insured.
It is not uncommon to add a realtor or managing company to a rental property. Adding them as additional insured does not affect your insurance premiums and you can remove them as additional insured at any time. In order for us to add them we will need the company name, address, phone number, and if there is a point of contact or specific agent...
...We value your business and the opportunity to serve all your financial needs."
So, if your currently doing everything yourself and are tired of it, hire a professional rental property manager. You can find a list of them at either www.allpropertymanagement.com or www.rentlist.com.
For more info, go to www.therookielandlord.com.
...Your Rental Property Manager serving Downingtown, Exton, Chester Springs, West Chester, Malvern, Pottstown and Phoenixville...