Landlord Policy


I have owned 14 single family rental units for the last 10 years. I never changed insurance companies over the years but my carrier(now SafeCo) has gone thru several mergers during that time. All of my policies(1 policy per unit) were recently reviewed, and essentially re-written with a 20% increase. Along with that all of my units were inspected from the outside by a 3rd party company hired by SafeCo. I was in the process of rehabbing one of my units when the inspection took place. 3 weeks later I got a cancellation notice from SafeCo stating that coverage was terminated on this property(due to “Substantial change in Risk”. I have since finished the rehab and rented it out. My lender has imposed forced coverage until I can find something better. I have already talked to my agent, he has made several attempts to speak with underwriting, I have even supplied photos of completed rehab along with the signed lease agreement proving that the property is occupied - but still no luck.
All of my rentals, personal residence, and Autos are written thru SafeCo. I am having problems finding similar coverage thru a company that doesn’t require me to move all of my properties - I don’t want to do that. I just submitted the info to NREInsurance to see what they come up with. Does anyone have any suggestions? I am located in NW Ohio.

Thanks in Advance,



My motto is to change carriers every few years. Rate creep will kill you if you don’t.

The last time I shopped my portfolio, it saved me $4,000/year.


I think you should wait for your new insurance agency to reply to the application. They would be the best one to answer and solve your query.


Thanks for the info, they were able to write me a landlord policy that met all my requirements. Made me a little nervous at first when I saw the name of the company(Ironshore Europe Ltd), but I did the research and they have an A-Rating.



You are most welcome and I’m glad you found the solution.


Thanks for the information that you had shared here.


The landlord building insurance is not a legal requirement, but not purchasing the insurance is not a wise decision. It is essential to be prepared for any unwanted circumstance that can occur. The policies are cheaper and safe if you buy from a reputed insurance company. This will ensure that the landlord will feel protected with best possible insurance cover. The insurance for landlords will help to minimise the risk factor associated with the property. The insurance products consists number of benefits in one complete package and at affordable price.


I agree with changing every 4-5 years. Rate creep is a real problem with insurers. Always be shopping around.

Also keep in mind that super cheap usually means bad service when it comes to claims. Don’t get me wrong, I think the bad service is worth the discount, just be prepared to deal with the bad service that comes with cheap, second-rate insurers.