Comments On Foremost For Landlord's Policy?
Anyone used Foremost or their landlords policy? Did you like them? Was the premium reasonable?
Anyone used Foremost or their landlords policy? Did you like them? Was the premium reasonable?
I called Foremost for a quote and it was about 2-3 times higher than what I already had. Seems that they are a company that will write risks that other insurance companys won't. Such as mobile homes or vacant rehab propertys. Unless you have a hard to place property I would look elsewhere.
It's true that Formost specializes in high risk properties. Also check with State Farm or Allstate. Their landlords properties are fairly reasonable but may require some form of support (ie--having your auto or home with them as well). I would recommend adding an endorsement to include coverage for vandelism. It is usually fairly inexpensive to add on and most landlords exclude this type of claim.
Foremost has a good contract for vacant and/or rehab properties. If you have rentals, look into a business, or commercial policy to "blanket" them. Such package polices provide most, if not all, of the coverages you should/would need. (i.e. rental loss, etc...). Avoid tying your personal residence into your rentals, as this pulls your personal liability coverage into a claim that occurs at a rental. This article may help, too:
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&sid=438
As it is, we have had much success with Foremost, in the "non-standard" coverage dilemma especially.