 Rent loss insur (by NEWBIE LANDLORD [WA]) May 22, 2022 1:05 AM
 Rent loss insur (by Robert J [CA]) May 22, 2022 2:15 AM
Rent loss insur (by RB [MI]) May 22, 2022 6:48 AM
Rent loss insur (by Vee [OH]) May 22, 2022 6:48 AM
Rent loss insur (by DJ [VA]) May 22, 2022 7:48 AM
Rent loss insur (by WMH [NC]) May 22, 2022 8:09 AM
Rent loss insur (by NEWBIE LANDLORD [WA]) May 22, 2022 1:03 PM
Rent loss insur (by Ken [NY]) May 22, 2022 1:20 PM
Rent loss insur (by WMH [NC]) May 22, 2022 1:26 PM
Rent loss insur (by Allym [NJ]) May 22, 2022 2:51 PM
Rent loss insur (by Robert J [CA]) May 22, 2022 4:20 PM
Rent loss insur (by Ray-N-Pa [PA]) May 23, 2022 6:35 AM
Rent loss insur (by Pmh [TX]) May 23, 2022 3:56 PM
Rent loss insur (by NEWBIE LANDLORD [WA]) Posted on: May 22, 2022 1:05 AM
Message:
I was recently informed about rent loss insurance. . Basically its insurance when a tenant does not pay rent.
Has anyone ever use this service and how good is it? --174.21.xx.xxx |
Rent loss insur (by Robert J [CA]) Posted on: May 22, 2022 2:15 AM
Message:
I tried to get it, but after reading the restrictions, I found I wasn't worth it. At least the provides I explored.
For example the tenant has to have a great credit history.
Then it only pays out after the rent is late, exceeding 30 days. Then they only pay out for a limited time, like from 4 to 6 months. And they charge too much. I was better being self insured and doing an extensive background check costing just under $30. --47.156.xx.xx |
Rent loss insur (by RB [MI]) Posted on: May 22, 2022 6:48 AM
Message:
Part of one Big racket. --24.183.xxx.xxx |
Rent loss insur (by Vee [OH]) Posted on: May 22, 2022 6:48 AM
Message:
You must also insure a large quantity with the carrier - if you have 3-500 units it can be cost effective. --76.190.xxx.xxx |
Rent loss insur (by DJ [VA]) Posted on: May 22, 2022 7:48 AM
Message:
I've only heard of it for when a rental is destroyed by fire, etc and is uninhabitable.
The insurance will pay lost rental income during that time. --68.229.xxx.xxx |
Rent loss insur (by WMH [NC]) Posted on: May 22, 2022 8:09 AM
Message:
I have rent riders on my dwelling policies. It's only a few dollars a year and pays out if the dwelling is damaged by fire, storms, etc. We live in a hurricane area so I figured the few dollars were worth it. Never used it, but since rent is our only income, like any insurance, I figure the few dollars are worth it if I need it. --50.82.xxx.xxx |
Rent loss insur (by NEWBIE LANDLORD [WA]) Posted on: May 22, 2022 1:03 PM
Message:
The insurance I'm talking about is the insurance when the tenant does not pay rent. Natuaral disasters or fire is different insurance.
I was thinking about the getting the non paying rent insurance, but I want to see if it is worth it or not. --174.21.xx.xxx |
Rent loss insur (by Ken [NY]) Posted on: May 22, 2022 1:20 PM
Message:
Robert answered your question,he understood the insurance you were asking about and answered it well --74.77.xx.xx |
Rent loss insur (by WMH [NC]) Posted on: May 22, 2022 1:26 PM
Message:
That truly sounds like a scam, sounds like if you had that many non-paying residents that you needed insurance to cover it, they'd drop you anyway.
Might have been worth it during Covid in California, but not in a normal world. --50.82.xxx.xxx |
Rent loss insur (by Allym [NJ]) Posted on: May 22, 2022 2:51 PM
Message:
I have some folded into my policy but only for use if building is uninhabitable. I like insurance I have come to realization late in life. It's a capitalistic form of socialism. You pay in and help the other guy who pays in to help you. It's run by legitimate business people not government crazies. I am going to get some pet insurance for my dogs. --108.24.xx.xx |
Rent loss insur (by Robert J [CA]) Posted on: May 22, 2022 4:20 PM
Message:
Asking the question a different way would have gotten a different answer. When a landlord has a "landlord protector policy" or "commercial insurance", the Policy has something called "Loss of Use"/"Loss of Income" section.
So lets say your property is worth $500,000 and you have a "Fire/Liability" Policy, it would include "Loss of Income" to cover 1 years worth of lost rent. This is included in those policy's.
Insurance that a tenant won't or can't pay their rent, is of a different horse, as I described in my earlier response. --47.156.xx.xx |
Rent loss insur (by Ray-N-Pa [PA]) Posted on: May 23, 2022 6:35 AM
Message:
The provider I found required all units be insured but covered residents with 685 or higher credit score. The credit pulling had to be done through the insurance company. So after learning the pulls were $25 each time......this turns out to be some rather expensive risk abatement on folks that are prone to making as many mistakes --24.101.xxx.xxx |
Rent loss insur (by Pmh [TX]) Posted on: May 23, 2022 3:56 PM
Message:
“capitalist form of socialism” interesting perspective. it is actually pure capitalism. you are paying for a service someone else is willing to take for the price you pay. I don’t think you know Ally what socialism is (?) --97.94.xxx.xxx |
Reply:
|
|