Investor Insurance Application

  • Obie Portfolio Services: Application for Insurance

  • Obie is pleased to offer Master policies/schedules to investors with portfolios of 10 or more individual policies. Please complete and submit all sections of this application and we will get started on your personalized quote.

     

    Eligible Property Types:

    1-4 unit residential rental properties needing up to $500k in total coverage, with the potential to increase up to $1 million in coverage with Underwriting approval.


    Eligible Rental Types:

    - Annual rentals 
    - Short-term rentals. These will need to supplement with a separate General Liability Policy.
    - Cosmetic renovation properties/nonstructural builders risk
    - Vacant properties 

    Important Coverage Notes:

    For guaranteed replacement cost coverage, underwriting requires Coverage A Dwelling to be at least $120/sqft for 1-4 units, Condos $80/sqft.

    If for any reason you don’t meet these requirements, Obie may still be a viable option for protecting your investments. Start a quote for individual policies on each of your properties. 

    Application Sections/ Required Information:

    • File Uploads: SOV and Loss Runs 
    • Investor Application 
    • Acknowledgement and Signature

    You may save your progress and come back at a later time.

  • Application Information

  • Format: (000) 000-0000.
  • Type of Organization*
    • File Uploads 

    • SOV

    • The Schedule of Values (SOV) sheet is your go-to tool for capturing crucial property details. For submitting, you have two options:

      • Use our provided template here.
      • Submit your existing SOV and we'll extract the necessary information.

      Why do we need this? The SOV helps us accurately assess the value of your properties, ensuring your coverage meets your specific needs.

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    • Loss Runs

    • We ask that you submit loss runs for all properties owned within the last five years. This data helps us understand each property's claims history. You can request a loss run from your property’s current insurance company.


      Why do we need this? Loss runs provide insights into your property's past insurance claims, aiding in risk assessment and accurate premium calculation.

    • Note: You may submit this form without uploading your loss runs. However we will need them in order to send your quote to underwriting. If you don’t submit them here, please email them to ryan.schroeder@obieinsurance.com at your earliest convenience.

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    • Coverage Requested  
    • Type of Coverage Requested:*
    • Desired Deductible*
    • Portfolio Statistics 
    • Do you fix and flip homes?*
    • How is your insured value determined?*
    • Do you arrange inspections prior to/after acquisition?*
    • Have any of your properties experienced a property or liability insurance losses the last 3 years?*
    • Have you ever had similar insurance declined, canceled, or non-renewed?*
    • Have you had a past conviction for arson, fraud or other insurance related offense?*
    • Have you filed for bankruptcy in the past 5 years?*
    • Vacant Property 
    • Do you have written procedures for the regular inspection of vacant properties?*
    • How often are vacant properties visited by the applicant, agent, or property management company?*
    • Is a log kept reporting the condition of the properties upon inspections?*
    • Are properties secured against entry?*
    • Is previous owner/tenant access blocked?*
    • Are all utilities disconnected as needed?*
    • Are properties protected against freeze?*
    • On average, how long is a property vacant between tenants?*
    • What is the maximum amount of time any dwelling has been vacant?*
    • Property Management 
    • Is a property management firm utilized?*
    • Do you have a signed contract with the property management company detailing expectations?*
    • Do you have risk management procedures/practice/formal maintenance program?*
    • Are there signed rental agreements with all tenants?*
    • Do you conduct a background check on all prospective tenants/occupants over the age of 18?*
    • Are tenants required to carry renter’s insurance policy?*
    • Do you abide by all state tenant/landlord laws?*
    • Do you have written eviction procedures that comply with all applicable laws?*
    • What is the typical response time when emergency repairs are needed?*
    • Additional Information 
    • Do you have any student tenants?*
    • Do you have subsidized renters?*
    • Are any of your properties used as a senior care, assisted living, hospice care, palliative care, sobriety and/or drug treatment or home day care, facilities?*
    • Are any of the properties rented on a seasonal or weekly basis?*
    • Are all doors (including sliding glass doors) equipped with proper locks and dead locks?*
    • Does each dwelling have smoke detectors and/or fire extinguishers?*
    • Is there a procedure in place to replace smoke detector batteries?*
    • Does each dwelling have a minimum of two means of egress?*
    • Renovation and Contracting Information  
    • Are any buildings undergoing renovations or reconstruction?*
    • Please select your typical renovation*
    • Do you use independent contractors?*
    • Do you obtain a certificate of insurance from your independent contractor?*
    • Prior to renovations, are all necessary local permits pulled?*
    • Additional Notes 
    • Submission Acknowledgment  

    • The undersigned acknowledges that he/she has read above application and reviewed any attachments. Further the undersigned is an authorized representative of the applicant and represents that thorough inquiry has been undertaken to obtain answers to questions on this application. He/She represents that the answers are true, correct, and complete to the best of his/her knowledge

      NOTICE TO APPLICANTS: Any person who knowingly and with the intent to defraud any Insurance Company or other person files an application for insurance or statement of claim containing any materially false information, or conceals for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent insurance act, which is a crime and subjects such person to criminal and civil penalties.
      Applicability of this statement may vary in some states.

    • Save and Submit 

    • Once we receive all required documentation, the underwriting process typically takes 5-7 business days. We aim for a quick turnaround and often complete it sooner.


      However, if you have questions at any point in this process, please reach out to Ryan Schroeder, our Portfolio Services Manager at Ryan.Schroeder@Obieinsurance.com

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