NREIG is an independent insurance agency, licensed in all 50 states. Our Insurance Program meets the unique insurance needs of the residential real estate investment industry with unique features like monthly reporting and billing, and custom designed insurance packages. For properties that do not fit within our program, we have access to coverage solutions for any type of commercial property.
For properties in our Program (one- to twenty-unit dwellings) NREIG offers monthly billing with no minimum earned premiums or long-term commitments. Coverage is provided in all 50 states and for all phases of occupancy: tenant occupied, vacant, locations under renovation, or ground-up construction. You can include all of your properties on one monthly schedule, called a”monthly reporting” form, even if they are owned by different entities (IRAs, Trusts, LLCs). The program allows you to add and delete properties as your portfolio changes, and change your occupancy status or coverage options on a monthly basis without having to cancel and re-write a policy. We make it as easy as possible. Learn more about the Program here.
A monthly reporting form is an insurance methodology which allows “inventory” flexibility in regards to insurance coverage. This allows locations in our Program to change coverages month-to-month. Such changes could relate to occupancy (a location goes from vacant to occupied), values (a renovation is completed increasing the insured calue), as well as adding and deleting locations as they are bought and sold. Clients receive a monthly invoice which reflects the current month’s inventory and related coverages from their Client Service Representative. This is a much simpler process than the traditional “endorsement per change” that is utilized by most insurance providers. Learn more here.
NREIG is proud of the relationships we’ve built with our carefully curated carriers who understand the unique risks that come along with the REI marketplace. All Insurers we utilize are rated by A.M. Best as “A” or better, the recognized indicator of the financial history and strength of an insurer. You can learn more about A.M. Best here.
Yes! We have a full-service commercial department, which can assist you with insurance needs related to apartment complexes, mixed-use commercial buildings, strip malls, self-storage facilities, professional coverages, umbrellas and more.
In order to make changes simple for our clients, NREIG has developed our Client Portal. Simply submit your requested changes and we’ll take care of the rest.
Invoices are sent via email on the 11th of each month. Review your statement and Report Changes to us.
The 3rd of each month is the last available date to make changes to the prior month’s inventory. If changes are made after payment has been posted for that month, the balance will be carried over to the next month.
If payment is not made by the due date, a 10-day cancellation notice is sent to you, and any applicable lenders, on the 10th of each month. If payment isn’t received by the 20th, your coverage will be cancelled.
Learn more about the claims process here.