I work with a number of clients who own rental property; some are just starting out with their first property while others have been at it for years and own multiple units. Most people who are starting with their first rental property tend to insure them with the same company that insures their primary home and cars. Those that own multiples may continue to insure theirs in the same way, but is this the best way?
I have the honor of providing coverage for a couple who recently moved to Dallas from Fort Worth. Their decision was driven so they would be closer to the wife’s clients and his office. Instead of selling their home though, they decided to lease it to another family. Before doing that, he called me to discuss what they needed to do insurance wise on their Fort Worth home and their Dallas home, one of the loft apartments near down town.
?One of my clients who lives in the mid cities area of D/FW called me last fall. Her parents were moving from El Paso to live near her. The El Paso home the parents had lived in had been rented out to a family. Everything had gone smoothly until the drive-by inspection by their insurance company.
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