Prospect General Insurance Agency is very excited to offer a new insurance product to investors in Real Estate. Our Real Estate Investor Program focuses on portfolios of residential real estate owned in order to generate income from the collection of rents. The program is built for residential properties that are 1-4 units in size but we can quote small apartments and some light commercial. We support individual owners, LLCs, REITs, and more.
The keys to the Prospect General Real Estate Investor Program are its flexibility and the fact that it has been built to accommodate loan insurance requirements. In regards to flexibility the program offers both property and liability coverage on a single policy and it will cover all properties in a portfolio. The policy will also allow for the addition and deletion of properties from the policy during the period. When looking at the lender requirements the last thing an investor wants is the insurance to hold up an already trying process. Our coverage has been created to react appropriately to the differing demands of the lenders supporting investors. Be it removing certain exclusions or adding limit Prospect General can make sure the insurance piece of the loan closure puzzle is not an issue.
The REI program covers each home to the value stated and will offer $2,000,000 in total liability coverage per property (general aggregate) for each policy period. There are multiple deductible options along with differing payment options to make the process fit the needs of each investor. Please consult our webpage to learn more about the coverage details.
Prospect General will handle the heavy lifting from an accounting and portfolio management perspective. Our goal is to make this difficult class of business easy so that you can focus on growing your book. Please note that we can quote your business before you are appointed but we will need to finish that process in order to proceed. Sign up with us now so we can get started!