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Michigan Landlord Insurance

Posted on: January 21st, 2013 by admin

2 Steps to Cheaper Michigan Landlord Insurance

Michigan Landlord InsuranceAre you a real estate investor who owns rental properties? Regardless of the size of investor you are the one thing we all have in common is the need for Michigan landlord insurance to keep our investment safe. Having the proper coverage will keep your investment safe in addition to protecting things like your monthly rental income in the event your tenant has to find alternative housing due to a claim. Obtaining the best coverage is priority one but you want to pay a competitive price also. This article is geared towards helping you pay an appropriate price on your Michigan landlord insurance.

Pay Less for Michigan Landlord Insurance 

Most people we speak with who are landlords tend to keep all their insurance with the same company. This is a natural thing to do because the thought is that you receive a multi-policy discount and have one agent to work with. However we see a lot of landlords who automatically go with the company that insures their home and auto without searching with other companies first. Which leads us to tip number one.

1. Shop Around. Michigan landlord insurance varies greatly in price from company to company. One insurance company may have a high concentration of claims in a zip code which forces them to raise prices while another company may not. If you decided to insure your rental property with your existing company without shopping around you may be overpaying without even realizing it.

A headache that some real estate investors face is that they want to keep all their properties insured with the same agent rather than insuring them with multiple agents to get the best deal. The simplicity of insuring everything with one agent is good because you only have to deal with one person. However if you agent only represents one company then you are forced to live with his/her company prices.

2. Work with an independent agent. Working with an independent agent will allow you to keep all your Michigan landlord insurance policies with one agent but potentially with multiple companies. Independent agencies work with numerous top rated insurance companies and will shop with them all to find their clients the best rates. The benefit to you is working with one agent while finding the best rates.

Being a landlord if a fun and exciting task that has its challenges. Make sure you are not adding challenges onto your plate by overpaying on your Michigan landlord insurance. Remember if you haven’t shopped around when you purchased your first Michigan landlord insurance policy call an independent agent.

Interested in a FREE Michigan Landlord Insurance Quote – (888) 557-0121

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