Episode 538: The Right Way to Insure Rental Properties, Creative Deals, and Vacancies with Seth Markum

In this episode of the Smart Real Estate Coach Podcast, I'm finally pulling back the curtain on how we insure our own portfolio. For about 12 years, my family and I have insured all of our non-owner-occupied, investment properties through National Real Estate Insurance Group (NREIG), whether it's buy-and-hold rentals, multifamily, or creative subject-to deals.   I'm joined by Seth Markum, Executive VP of Sales at NREIG, with 20+ years in property and casualty insurance and a background in building one of the first national online commercial P&C agencies. We break down landlord insurance vs. homeowners insurance, why rental properties are treated as commercial exposure, and how NREIG structures real estate investor insurance across single-family, multifamily, short-term rentals, mobile homes, land, and creative strategies even if you're using multiple LLCs in multiple states.   Seth also walks you through their monthly reporting program, how one flexible policy can follow a property from occupied to vacant to renovation without gaps in coverage, and how they handle subject-to insurance the right way.   If you've ever wondered how to properly insure your rental properties and real estate investments, this episode will show you exactly what to ask for and how to get a proposal from NREIG.   Key Talking Points of the Episode: 00:00 Introduction 01:11 Who is Seth Markum? 03:19 Landlord vs. homeowner policies (and why homeowners "never works") 04:18 One company vs. multiple niches: why customization matters 05:08 No one-size-fits-all: mix forms, deductibles & locations 06:21 What makes NREIG different from other insurance companies 08:19 Why you don't want "agent Bob on the corner" for creative deals 09:01 Making insurance simple for real estate investors 10:02 Dealing with vacancies and fix and flips with NREIG 11:21 How to get a proposal from NREIG 13:10 The importance of understanding the kind of insurance you have   Quotables   "If you're not getting a customized policy… that may not be the scenario that you want to entertain."    "All phases of occupancy are contemplated on our single policy form."   "If you just want something that's going to be all encompassing, no matter what your strategy is, this is going to be the best solution for you."   Links   NREIG https://nreig.com/ sales@nreig.com   QLS 4.0 - Use coupon code for 50% off https://smartrealestatecoach.com/qls Coupon code: pod   Apprentice Program https://3paydaysapprentice.com Coupon code: Podcast   Masterclass https://smartrealestatecoach.com/masterspodcast   3 Paydays Books https://3paydaysbooks.com/podcast   Strategy Session https://smartrealestatecoach.com/actionpodcast   Partners https://smartrealestatecoach.com/podcastresources