Investment Properties
Tailor-Made Solutions for a Full Range of Properties & Ownership Structures,
Buyer Profiles, Occupancy & Usage Plans
Comprehensive solutions for any lifestyle or level of complexity.
Allow JMP Insurance Brokers to construct a Personal Insurance solution that properly protects your home under the broadest of circumstances – ensuring you’ll have the security & peace-of-mind to enjoy your sanctuary for many years to come.
At JMP Insurance Brokers, we’re proud to represent the finest global, national and regional/specialty insurance carriers – allowing us to deliver our full-suite of Homeowners & Renters solutions across all 50 states.
We’re proud to be designated as a ‘Cornerstone Agent’ by Chubb Personal Risk Services (CPRS) – the carrier’s most elite Agency designation bestowed to their top 200 Agency/Brokerage Partners nationwide.
In addition to Chubb, we can deliver a Homeowners/Renters solutions from standard/admitted carriers, such as Travelers, Hanover Personal Insurance, National General Premier (Nat Gen Premier), Nationwide, Harford, Encompass, Safeco, Adirondack, NJ Skylands, among others. For harder-to-place/higher risk homes, we represent Orchid Specialty, RPS, Narragansett Bay, Quaker Specialty Risk, Beazley, Lexington, & Lloyds of London, among others.
As our result, our clients benefit by leveraging our industry and carrier expertise nationwide – while also simplifying/centralizing their accounts nationwide through JMP Insurance Brokers.
Investment Property Coverage
Working with our carrier partners, JMP Insurance Brokers has a long-standing history of successfully structuring personalized solutions for eligible investment properties across a wide spectrum of property types, ownership structures, buyer profiles and usage & occupancy plans.
Primarily delivered through the ‘higher-risk’ or ‘harder-to-place’ Excess & Surplus (E&S) market, non-admitted solutions for eligible properties, may:
- Offer the ability to modify coverage at a line-item level for eligible circumstances.
- Be written in name of a US-based LLC, Trust or Estate.
- May provide coverage when standard "admitted" options are exhausted or not available.
- Accommodate various eligible Buyer profiles including:
- Overseas Buyers - Whose primary residence is outside the USA, across a range of eligible property types. Will be required to maintain an inforce contract with a local Property Manager, listing them as the primary 'day-to-day' contact.
- Non-Owner-Occupied Multi-Family Dwellings of up to 4 families (Personal) and 4+ families (Commercial). Personal Owners in this category must:
- Retain a US Primary Residence and don't need to reside in the property being insured.
- Have an in-force contract with a local Property Manager, listing them as the property's primary 'day-to-day' contact.
- Pied-a-terres: Various eligible property types which are partially owner-occupied, vacant and to be rented-to-others (RTO) at various times.
- Owners don't need to reside in the USA to secure coverage. Required to maintain an inforce contract with a local Property Manager, serving as primary contact.
- Owners with adverse claim and payment histories , requiring they seek coverage in the higher-risk market regardless of property type.
Whether its a condo, brownstone, free-standing house or a cooperative apartment, you can be assured that JMP Insurance Brokers has the demonstrated expertise and know-how to deliver focused Investment Property solutions with the broadest coverage available, including:
- All Risk Coverage - Broadest Available in the USA . May apply to the applicable Main & Other Structures, Personal Contents & Loss of Use.
- Loss of Use/Loss of Rental Income - Important Additional Living Expense (ALE) protection for a covered claim if you can't live in or rent it out. When rented, includes revenue replacement for the loss of rental income during the claim up to listed limits.
- 100% & Extended Structural Replacement Cost - Options of 125% & 150% - For rebuilding all permanent structures up to limits listed after a total loss. Eligible options from 100 - 150% of the Dwelling (Coverage A) Limit in-force at the time of loss and may include coverage for inflating rebuilding costs and for eligible circumstances - subject to full compliance with all Policy Terms & U/W requirements.
- Personal Contents insured with eligible Full Replacement Cost (RC) coverage at the time of the covered loss without depreciation. Applicable for Eligible Furnished Properties Rented-to-Others (RTO).
- Ancillary Coverage & Services - Incorporating available coverage for eligible properties for:
- Back-up of Internal Sewers & Drains.
- Mold Remediation - Up to state statutory limits.
- Equipment Breakdown Coverage - sudden and accidental breakdown of permanent mechanical or electrical equipment. Exclusions apply.
- Coverage provided by an A-Rated Carrier or better for financial strength and claims-paying abilities by A.M. Best & Co - primary ratings agency in the USA for the insurance industry.
- Often, A-Rated E&S Coverages & Policies are provided by the 'Non-Admitted" division of a large, well-known, admitted multi-national insurance company.
- Non-Admitted Carrier refers to an insurance carrier who is "not admitted" to conduct business in a given US state. Practically speaking, however, the company can operate, but ineligible for State insolvency funds . However, as A-Rated companies, the risk is low in light of access & policy-level flexibility to modify coverage and policy terms .
In addition to the many options available in the E&S marketplace, there are also important non-negotiable requirements and restrictions when buying Excess & Surplus (E&S) policies:
- The overall process tends to take longer and requires more advanced planning. Solutions may carry more non-negotiable restrictions/exclusions, and carry fees and taxes.
- E&S policies require completion, signature and return of all applications and requested documents before coverage can be bound.
- Typically cannot be billed directly to the insured. JMP Insurance Brokers pays on behalf of the Client, who then reimburses us for the full 'Agency-Billed" amount.
- Are non auto-renewable, require a formal renewal application each year prior to expiration. And full compliance with the process outlined
- Often carry significant coverage limitations or exclusions,.
Request Quotes Today for Your Eligible Investment Properties. Put JMP Insurance Brokers Expertise & Proven Track Record to work for you.
