Many real estate investors own multiple homes in varying locations. Most real estate investor homes change on a regular basis due to ongoing updates or renovations. All of these factors influence the coverage of a real estate investment under the master property insurance policy. Therefore, in order to maximize coverage under the real estate investor’s property insurance policy, the property schedule must be accurate and continually updated.
Sophisticated real estate investors focus on growing and improving their portfolio of homes. This requires investment in updating and renovating existing homes and looking for opportunities to purchase additional real estate investments. First, home renovations affect the value of a home. For example, if a real estate investor renovates an outdated kitchen, the value of the home typically increases. Therefore, following the completion of the renovation, the investor needs to update the value of the home on the property insurance schedule. Second, real estate investors often act quickly when they find a new investment property. If investors are not careful, then it is possible to purchase a new real estate investment and not immediately add the property to the master insurance schedule. If the real estate investor does not update the property schedule after a renovation or when a new home is added, then he or she is a risk of underinsurance or un-insurance in the event of a claim.
Therefore, accurate maintenance of a real estate investor’s property schedule is important to maximizing coverage under the policy. Our team of real estate investment insurance specialists look forward to helping you review your property insurance schedule against your investment portfolio to make sure your coverage is comprehensive.
REI Choice is the bi-product of a seasoned real estate investor and successful insurance executive. The ideation behind the company began in 2017 from a chance introduction and a combination of two unique visions. We are located in Dallas, TX. We are a licensed insurance agency in the State of Texas. We are able to offer these products nationwide via Arcana Insurance Services, LP.
REI Choice Insurance, LLC
519 East Interstate 30
Rockwall, TX 75087