Protecting your investments with the right insurance coverage is crucial. At NREIG, we offer a variety of insurance options tailored to meet the unique needs of each investment property you own. Below is a brief overview of the property types we insure and the coverage provided by each standard policy. Insurance for these property types can be customized with additional ancillary products.  

Tenant-Occupied Rental Properties  

When renting out your investment property, it’s important that your insurance is specifically designed to cover tenant-occupied homes. Our standard Rental Property Insurance includes:  

  • Dwelling Coverage- to protect the physical structure.  
  • Premises Liability Coverage- for injuries or damages that may occur on your property.  

Vacant Properties

Properties listed for sale or in-between tenants are vulnerable to a variety of risks, vandalism, theft, and fire among the most common. Our Vacant Property Insurance protects unoccupied properties from costly potential losses. Plus, with our monthly reporting form, you can seamlessly update or cancel your coverage when a tenant moves in or the home is sold, all without minimum-earned premiums. Our standard Vacant Property Insurance includes: 

  • Dwelling Coverage- to protect the physical structure.  
  • Premises Liability Coverage- for injuries or damages that may occur on your property. 

Properties Undergoing Renovations 

Major, or even minor, renovations can expose your property to increased risks. Our Renovation Property Insurance is a must-have to limit your exposure during rehabs. Our standard Renovation Property Insurance includes:  

  • Dwelling Coverage- Builder’s Risk Form policy to protect the physical structure.  
  • Premises Liability Coverage- for injuries or damages that may occur on your property. 

New Builds or Major Layout Changes

When constructing a new property or making significant changes to a home’s layout, it’s very important for you, the investor, to have proper coverage, regardless of the coverage your general contractor carries (which they should!). Our standard New Construction Insurance includes:  

  • Builder’s Risk- to protect your property and your investment during the construction process. 
  • New Construction Liability Coverage- for injuries or damages that may occur on your property during the construction process. Please note liability coverage does not extend to general contractors or anyone hired to be on site. Contact your Client Service Advisor to learn more about GC Liability or P&CO policies.  

Vacant Land

Owning vacant land exposes you to certain liability risks, such as accidents that may occur on the property from uninvited or even invited visitors. Should you decide to build on the land, our monthly reporting form allows for seamless transition to New Construction Insurance with no coverage interruption. Our standard Vacant Land Insurance includes:  

  • Vacant Land Liability- for injuries or damages that may occur on the premises.  

Vacation Rentals

When renting out your property on a short-term basis, it’s essential to have Vacation Rental Insurance to limit your exposure to losses that can occur during a guest’s stay and in-between occupants. Our standard Vacation Rental Insurance includes:  

  • Dwelling Coverage- to protect the physical structure.  
  • Premises Liability Coverage- for injuries or damages that may occur on your property. 

Mobile/Manufactured Homes 

In our Program, mobile homes are defined as homes that once had wheels but do not currently and are on permanent foundation. Manufactured homes are factory built or prefabricated and prepared on site with no permanent foundation or basement. NREIG insures mobile and manufactured homes similarly with:  

  • Dwelling Coverage- to protect the physical structure.  
  • Premises Liability Coverage- for injuries or damages that may occur on your property. 

Condominium Units

Whether you rent out your unit or are renovating it, Walls-In Condo Coverage protects you and your unit against losses you may be responsible for under your Condo Association’s requirements. Standard Condo Insurance includes:  

  • Dwelling Coverage- to protect the physical structure. 
  • Liability Coverage- for injuries or damages that may occur on your property.  

Log Cabins

Due to their construction materials and typical remote location, log homes come with unique risks that tend to affect coverage availability and cost. NREIG developed CabinArmor as a solution to these challenges, offering comprehensive protection for log cabins where traditional insurance often falls short. Whether your log home is actively rented out, vacant, or undergoing cosmetic renovations, CabinArmor protects you and your property.

  • Dwelling Coverage- to protect the physical structure.
  • Liability Coverage- for injuries or damages that may occur on your property.

 

While these are the most common types of investment properties we work with, NREIG is also capable of providing coverage for more creative investment strategies such as Subject To deals, Tax Sales, Land Contracts, etc. Contact your Client Service Advisor for more information.