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Investor REO/Rental Insurance

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.

 

  • 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

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Talk to our insurance experts for more information about Proctor Loan Protector’s insurance products.

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