Michigan folks become property managers for a variety of reasons. Our agency deals with real estate property investors who reached a careful decision to invest in rental houses and also men and women who just kind of fell into it unintentionally. The economic crisis that started several years back triggered declining home prices and endless opportunities for real estate investing. As a byproduct the quantity of landlords has considerably increased.
In addition to owning an insurance agency our founders are real estate investors as well. We observed years ago that there's a strong demand for Michigan Investment Property insurance, but hardly any insurance firms that will help. Real estate investors experience unique challenges on a daily basis and it's important that you partner with a professional insurance agency that understands this niche.
Managing a Michigan Investment Property can lead to riches or to financial ruin. As an investor it is your job to minimize your risks and maximize and your chance for financial gain. The easiest way to decrease your risks and prepare for the unexpected is to buy Investment Property insurance Michigan.
Michigan Investment Property Insurance - What's Covered?
Michigan Investment Property Insurance plans can be tailored in order to meet your specific needs. This list is not comprehensive and we always recommend speaking with a licensed agent before choosing a policy.
Property Damage: This will provide coverage for your dwelling and any detached structures like a detached garage or a shed
Loss of Income: In the event that you have damage to your Michigan Investment Property causing it to be unlivable, your policy will help compensate you for the Michigan Investment Property income you are losing during the repairs
Liability Protection: We find that many landlords overlook this essential coverage. Liability protection covers you and your assets in cases where you are sued. (Ex. Someone trips and falls on your property and is injured)
Who Needs A Michigan Investment Property Insurance Policy?
The simple answer to that is anybody who rents out a house. If you lease your home a standard home owners insurance policy will not provide sufficient coverage. Homeowners insurance is designed to provide coverage for people living in a home that they own. If you are renting your home out, most insurers will consider your home insurance policy null and void. That is the reason why each and every landlord must buy an Michigan Investment Property insurance policy.
Where Can You Purchase Michigan Investment Property Insurance?
I’m so glad you asked! If you are ready to partner with an insurance agency that truly understands the needs of landlords, then we’ve got your back. In addition to being highly knowledgeable, we will also most likely help you save money. With all the carriers that we represent we are bound to help you find some savings without sacrificing coverage.
Call now to speak live or begin your online quote now!
Investment Property Insurance Michigan