Insurance for investors
Landlord policies and flood/wind layers.
Binder timing before closing.
Landlord policies differ from homeowners — cover loss of rent, premises liability, and often ordinance or law upgrades. Flood is separate and often mandatory in lender files on coastal assets.
Wind and flood layers
High-rise and coastal properties may carry separate wind policies with percentage deductibles. Quote wind, flood, and hazard together during due diligence — premium shocks at renewal have broken pro formas on Palm Beach condos.
Binder timing
Lenders require binders before funding. New construction needs builder's risk during build and landlord coverage at CO — coordinate with Palazzo Insurance so binders align with draw and closing milestones.
Loss of rent coverage
Confirm loss-of-rent limits and waiting periods on landlord policies — hurricane outages can exceed 30 days. Underinsured loss-of-rent breaks pro forma during the exact months seasonal assets need coverage most.
Master policy pass-through
Condo investors carry HO-6 walls-in coverage plus share of master policy increases via assessments. Request three years of master policy premium history before you model year-two NOI.