Investor REO/Rental Insurance

Insurance for Investors

Property & Liability Insurance for Residential Rental Properties

Proctor Loan Protector’s Investor Rental Program provides property and liability coverage for portfolios of residential rental properties held by financial institutions, property investors, REITs, and real estate management companies responsible for insuring owner’s properties. The Investor Rental Program bundles property and liability insurance coverages into a reporting form program to reduce risk exposure, streamline administration, and eliminate individual property underwriting.

key features/benefits eligible classes excluded risks optional coverages requirements

All-Risk coverage written with DP-3 coverage form
Damage to other structures on the property
Debris removal
Ordinance or law coverage (up to 10% of property limit)
Condo improvements and alterations
Replacement cost loss settlement
A dwelling undergoing renovation not considered vacant – up to 90 days
Existing or newly created affiliated, subsidiary LLCs / entities are included as Named Insureds

key features/benefits

All-Risk coverage written with DP-3 coverage form
Damage to other structures on the property
Debris removal
Ordinance or law coverage (up to 10% of property limit)
Condo improvements and alterations
Replacement cost loss settlement
A dwelling undergoing renovation not considered vacant – up to 90 days
Existing or newly created affiliated, subsidiary LLCs / entities are included as Named Insureds

eligible classes

Single family dwellings
Multi-family dwellings (2-4 Family)
Condominium units
Townhouses
Planned Unit Developments (PUDs)

excluded risks

Mobile homes
Commercial property (including mixed use properties)
Apartment buildings / Complexes (5+ units building)
Condominium buildings / Complexes
Portfolios with more than 25% subsidized housing

optional coverages

Loss of rents
Residential contents – coverage for items such as furnishings, appliances, owned by the landlord and kept in the rental property
Premises liability
Water back up & sump discharge or overflow
Course of construction endorsement provides up to $10,000 for theft of unfixed building materials and supplies

requirements

Completed Investor Application
3 years of loss runs
Property listing spreadsheet with full addresses, occupancy status, insured value, square footage, year built, rental income per property, personal property limit per property
Resumes of key personnel
Business plan and/or future acquisition projections, including number of properties, average values, geographic location
Names and addresses of lenders / loss payees