Vacant Home Insurance

Real Estate Owned Insurance ( OREO / REO / ORE )

Force Placed (Lender Placed) Insurance

Multiple Properties

Rental Property Insurance

Non-Residential (Commercial) Real Estate Insurance

Seasonal / Vacation Property Insurance

Vacant Home Insurance

Description

Vacant home insurance is crucial to protect your investment. Vacant property exposes the investment property owner to some very high risks such as theft, burglary, vandalism, and fire to name a few. If a fire occurs on an investment property that is vacant it is reasonable to expect that the loss will be complete and devastating to your investment objectives. A complete loss does not just affect the property, but also your cash flow, cash on cash returns, resale opportunities and time frame, and investment growth. APIA Inc. takes a proactive approach to helping you protect your investment with appropriate coverage.

Standard deductible options are $2,500 for residential properties and $5,000 for commercial properties. Other options are available upon request. Liability limits are $1,000,000 per location and $2,000,000 annual aggregate.

Included Coverage

Premises Liability Coverage

Vacant property exposes an investor to additional liability concerns. The lack of direct oversight on a vacant property allows for increased exposure to unwelcomed visitors and property damage. Liability coverage comes with a standard $0 deductible and covers you in the event that you are held liable for a claim on or against you or your property. This is one of the most cost effective forms of coverage and helps eliminate the hassles related to dealing with liability claims from tenants, visitors, or other stated individuals.

Property Coverage

This policy covers any kind of loss (fire, lightning, wind, hail, explosion, vandalism, theft, burglary, malicious mischief) unless specifically excluded in the policy documents.

Coinsurance Penalty

There is not a coinsurance penalty with this policy. You decide the level to which the property is insured. If the property is underinsured on a covered loss, the policyholder will receive actual cash value of the loss.

Options

Loss of Rent Coverage

This part of the policy covers your loss in rents due to a covered loss. For example, if a fire occurs in your rental property and the tenant is forced to move, this policy will cover that loss rental income.

Contents Coverage

This coverage can be added to cover the contents of the property that you own and are inside the property. This does not cover the tenant’s property. It would only cover losses to the contents that you own.

Earthquake Coverage

Earthquakes are covered in most states and you can have added peace of mind with this coverage. Only excluded in California and Alaska.

Terrorism Coverage

Terrorism can be included with any policy allowing you to protect yourself even further in the event a terrorist act is committed on your property.

Flood Coverage

Flood coverage can be included in some states. Flood can be insured with a deductible as low as $1,000. Standard flood coverage is only eliminated in zones A & V and has coverage up to $2,500,000.

Vacancy Coverage

Vacancy must be revealed at the time it occurs but does not force you to take any other actions. There are no time restrictions to the vacancy. Once the tenant moves out, you may choose to allow the property to be vacant for any amount of time and no additional adjustments must be made to the policy. Security and Physical Inspections are only required on a monthly basis during its vacancy. The inspections can be performed by the owner, property manager, or trusted third party.

Payment Options

We offer flexible payments that fit your budget and cash flow needs. You do not pay in advance for your insurance. You are billed for the previous month and charged for only the days that the property is owned. For example, if you own the property from March 1 to March 17, you are only charged for those exact days.

Payment can be made via check or ACH:

Monthly

Quarterly

Semi-Annually

Annually

Real Estate Owned Insurance ( OREO / REO / ORE )

Description

Why do you need REO or real estate investor insurance? In today’s economy we are seeing foreclosure rates increase. Foreclosures happen for a myriad of reasons some of which include job loss, a short-sale that could not be completed, and even “strategic foreclosures.” The financial loss that a foreclosure causes to a bank can be compounded by damage to property while it is being held. APIA, Inc specializes in helping financial institutions and their agents navigate the different options available. Our Certified Insurance Counselors® work directly with agents and financial institutions to properly explain the coverage that meets your objectives.

Standard deductible options are $2,500 for residential properties and $5,000 for commercial properties. Other options are available upon request. Liability limits are $1,000,000 per location and $2,000,000 annual aggregate.

Included Coverage

Premises Liability Coverage

In a culture where exposure to lawsuits has greatly increased for financial institutions, a liability claim on a bank owned property could quickly turn into a financial disaster for that company. Not only can it lead to negative press but also the financial ramifications can greatly increase undue financial losses. Liability coverage comes with a standard $0 deductible and covers you in the event that you are held liable for a claim on or against you or your property. This is one of the most cost effective forms of coverage and helps eliminate the hassles related to dealing with liability claims from tenants, visitors, or other stated individuals.

Property Coverage

This policy covers any kind of loss (fire, lightning, wind, hail, explosion, vandalism, theft, burglary, malicious mischief) unless specifically excluded in the policy documents.

Coinsurance Penalty

There is not a coinsurance penalty with this policy. You decide the level to which the property is insured. If the property is underinsured on a covered loss, the policyholder will receive actual cash value of the loss.

Options

Contents Coverage

This coverage can be added to cover the contents of the property that you own and are inside the property. This does not cover the tenant’s property. It would only cover losses to the contents that you own.

Earthquake Coverage

Earthquakes are covered in most states and you can have added peace of mind with this coverage. Only excluded in California and Alaska.

Terrorism Coverage

Terrorism can be included with any policy allowing you to protect yourself even further in the event a terrorist act is committed on your property.

Flood Coverage

Flood coverage can be included in some states. Flood can be insured with a deductible as low as $1,000. Standard flood coverage is only excluded in zones A & V and has coverage up to $2,500,000.

Vacancy Coverage

Vacancy must be revealed at the time it occurs but does not force you to take any other actions. There are no time restrictions to the vacancy. Once the tenant moves out, you may choose to allow the property to be vacant for any amount of time and no additional adjustments must be made to the policy. Security and Physical Inspections are only required on a monthly basis during its vacancy.

Payment Options

We offer flexible payments that fit your budget and cash flow needs. You do not pay in advance for your insurance. You are billed for the previous month and charged for only the days that the property is owned. For example, if you own the property from March 1 to March 17, you are only charged for those exact days.

Payment can be made via check or ACH:

Monthly

Quarterly

Semi-Annually

Annually

Force Placed (Lender Placed) Insurance

Description

Finding a reputable force placed insurance company is absolutely vital to your investment. Most mortgage agreements include verbiage that states that the mortgagor must provide evidence of insurance. In the situation whereby the mortgagor does not adhere to this standard, this policy allows you to “force” the insurance onto the appropriate party. This type of force placed insurance helps protect your property and allow you the peace of mind that your property is covered in the event of a covered loss. Whether you are acquiring insurance for a financial institution or you are an individual investor that owns mortgages we help you navigate the insurance issues that will help you become properly protected. We also work with escrow to ease the billing situations.

Standard deductible options are $2,500 for residential properties and $5,000 for commercial properties. Other options are available upon request.

Included Coverage

Property Coverage

This policy covers any kind of loss (fire, lightning, wind, hail, explosion, vandalism, theft, burglary, malicious mischief) unless specifically excluded in the policy documents.

Coinsurance Penalty

There is not a coinsurance penalty with this policy. You decide the level to which the property is insured. If the property is underinsured on a covered loss, the policyholder will receive actual cash value of the loss.

Options

Earthquake Coverage

Earthquakes are covered in most states and you can have added peace of mind with this coverage. Only excluded in California and Alaska.

Flood Coverage

Flood coverage can be covered under this forced place insurance policy. Multiple deductible options are available and is an added policy option for Financial Institutions.

Terrorism Coverage

Terrorism can be included with any policy allowing you to protect yourself even further in the event a terrorist act is committed on your property.

Vacancy Coverage

Vacancy must be revealed at the time it occurs but does not force you to take any other actions. There are no time restrictions to the vacancy. You may choose to allow the property to be vacant for any amount of time and no additional adjustments must be made to the policy. Security and Physical Inspections are only required on a monthly basis during its vacancy. The inspections can be performed by the owner, property manager, or a trusted third party.

Payment Options

You do not pay in advance for your insurance. You are billed for the previous month and charged for only the days that the property is owned. For example, if you own the property from March 1 to March 17, you are only charged for those exact days.

Payment can be made via check or ACH:

Monthly

Quarterly

Semi-Annually

Annually

Multiple Properties

Description

One of the most daunting insurance tasks is covering multiple properties with various occupancy situations. We find that a lot of investors have multiple properties in numerous states with various levels of occupancy. This can be a real hassle when it comes to insuring the unoccupied property and APIA Inc. strives to make this part of your life as painless as possible. This policy covers all your property in any state and in any occupancy condition. Your policy allows you make changes to the property’s occupancy on a monthly basis without having to undergo any additional underwriting processes. When the property is vacant you are only required to inspect the property on a monthly basis. This inspection is not required to be performed by the owner and can be accomplished by the property manager, trusted advisor, or a hired company.

Whether you have 2 or 2,000 properties, all are covered under one policy with one payment and one renewal date regardless of state or occupancy.

Standard deductible options are $2,500 for residential properties and $5,000 for commercial properties. Other options are available upon request. Liability limits are $1,000,000 per location and $2,000,000 annual aggregate.

Included Coverage

Premises Liability Coverage

Liability coverage comes with a standard $0 deductible and covers you in the event that you are held liable for a claim on or against you or your property. This is one of the most cost effective forms of coverage and helps eliminate the hassles related to dealing with liability claims from tenants, visitors, or other stated individuals.

Property Coverage

This policy covers any kind of loss (fire, lightning, wind, hail, explosion, vandalism, theft, burglary, malicious mischief) unless specifically excluded in the policy documents.

Coinsurance Penalty

There is not a coinsurance penalty with this policy. You decide the level to which the property is insured. If the property is underinsured on a covered loss, the policyholder will receive actual cash value of the loss.

Options

Loss of Rent Coverage

This part of the policy covers your loss in rents due to a covered peril. For example, if a fire occurs in your rental property and the tenant is forced to move, this policy will cover that loss rental income.

Contents Coverage

This coverage can be added to cover the contents of the property that you own and are inside the property. This does not cover the tenant’s property. It would only cover losses to the contents that you own.

Earthquake Coverage

Earthquakes are covered in most states and you can have added peace of mind with this coverage. Only excluded in California and Alaska.

Terrorism Coverage

Terrorism can be included with any policy allowing you to protect yourself even further in the event a terrorist act is committed on your property.

Flood Coverage

Flood coverage can be included in some states. Flood can be insured with a deductible as low as $1000. Standard flood coverage is only eliminated in zones A & V and has coverage up to $2,500,000.

Vacancy Coverage

Vacancy must be revealed at the time it occurs but does not force you to take any other actions. There are no time restrictions to the vacancy. Once the tenant moves out, you may choose to allow the property to be vacant for any amount of time and no additional adjustments must be made to the policy. Security and Physical Inspections are only required on a monthly basis during its vacancy.

Payment Options

We offer flexible payments that fit your budget and cash flow needs. You do not pay in advance for your insurance. You are billed for the previous month and charged for only the days that the property is owned. For example, if you own the property from March 1 to March 17, you are only charged for those exact days.

Payment can be made via check or ACH:

Monthly

Quarterly

Semi-Annually

Annually

Rental Property Insurance

Description

Most property owners understand the value of protecting their rental investment with rental property insurance. Rented property also comes with the risk of having that property become vacant at some point. Whether it is due to a non-renewed lease or an eviction, the increased risk of a vacant property must be addressed. Your policy with APIA, Inc. covers you in both instances and does not require that you rewrite your policy each time it becomes vacant or rented. Your monthly reporting to us allows you to simply change your property occupancy from vacant to rented without any other hassles. This policy provides you protection for not only the physical structure but also provides liability coverage and loss of rent. All of your rental properties are covered under one policy regardless of which state the property is located and there are no age or construction restrictions on the property. One to four family residences are covered under this policy.

Standard deductible options are $2,500 for residential properties and $5,000 for commercial properties. Other options are available upon request. Liability limits are $1,000,000 per location and $2,000,000 annual aggregate.

Included Coverage

Premises Liability Coverage

Liability coverage comes with a standard $0 deductible and covers you in the event that you are held liable for a claim on or against you or your property. This is one of the most cost effective forms of coverage and helps eliminate the hassles related to dealing with liability claims from tenants, visitors, or other stated individuals.

Property Coverage

This policy covers any kind of loss (fire, lightning, wind, hail, explosion, vandalism, theft, burglary, malicious mischief) unless specifically excluded in the policy documents.

Coinsurance Penalty

There is not a coinsurance penalty with this policy. You decide the level to which the property is insured. If the property is underinsured on a covered loss, the policyholder will receive actual cash value of the loss.

Options

Loss of Rent Coverage

This part of the policy covers your loss in rents due to a covered peril. For example, if a fire occurs in your rental property and the tenant is forced to move, this policy will cover that loss rental income.

Contents Coverage

This coverage can be added to cover the contents of the property that you own and are inside the property. This does not cover the tenant’s property. It would only cover losses to the contents that you own.

Earthquake Coverage

Earthquakes are covered in most states and you can have added peace of mind with this coverage. Only excluded in California and Alaska.

Terrorism Coverage

Terrorism can be included with any policy allowing you to protect yourself even further in the event a terrorist act is committed on your property.

Flood Coverage

Flood coverage can be included in some states. Flood can be insured with a deductible as low as $1000. Standard flood coverage is only eliminated in zones A & V and has coverage up to $2,500,000.

Vacancy Coverage

Vacancy must be revealed at the time it occurs but does not force you to take any other actions. There are no time restrictions to the vacancy. Once the tenant moves out, you may choose to allow the property to be vacant for any amount of time and no additional adjustments must be made to the policy. Security and Physical Inspections are only required on a monthly basis during its vacancy.

Payment Options

We offer flexible payments that fit your budget and cash flow needs. You do not pay in advance for your insurance. You are billed for the previous month and charged for only the days that the property is owned. For example, if you own the property from March 1 to March 17, you are only charged for those exact days.

Payment can be made via check or ACH:

Monthly

Quarterly

Semi-Annually

Annually

Non-Residential (Commercial) Real Estate

Description

Commercial real estate is a flourishing aspect of the real estate market. Many investors find themselves diversifying across various lines of the real estate market to help solidify the variation of their cash flow and cash on cash returns. APIA Inc. allows you to cover both residential and/or commercial property on the same policy regardless of state or occupancy status. Vacant property only requires a monthly security and physical inspection of the property. This will help you simplify the insurance of multiple property and allow you to have only one payment and one renewal date regardless of the type of property covered under the policy.

Standard deductible options are $2,500 for residential properties and $5,000 for commercial properties. Other options are available upon request. Liability limits are $1,000,000 per location and $2,000,000 annual aggregate.

Included Coverage

Premises Liability Coverage

Liability coverage comes with a standard $0 deductible and covers you in the event that you are held liable for a claim on or against you or your property. This is one of the most cost effective forms of coverage and helps eliminate the hassles related to dealing with liability claims from tenants, visitors, or other stated individuals.

Property Coverage

This policy covers any kind of loss (fire, lightning, wind, hail, explosion, vandalism, theft, burglary, malicious mischief) unless specifically excluded in the policy documents.

Coinsurance Penalty

There is not a coinsurance penalty with this policy. You decide the level to which the property is insured. If the property is underinsured on a covered loss, the policyholder will receive actual cash value of the loss.

Options

Loss of Rent Coverage

This part of the policy covers your loss in rents due to a covered loss. For example, if a fire occurs in your rental property and the tenant is forced to move, this policy will cover that loss rental income.

Contents Coverage

This coverage can be added to cover the contents of the property that you own and are inside the property. This does not cover the tenant’s property. It would only cover losses to the contents that you own.

Earthquake Coverage

Earthquakes are covered in most states and you can have added peace of mind with this coverage. Only excluded in California and Alaska.

Terrorism Coverage

Terrorism can be included with any policy allowing you to protect yourself even further in the event a terrorist act is committed on your property.

Flood Coverage

Flood coverage can be included in some states. Flood can be insured with a deductible as low as $1,000. Standard flood coverage is only eliminated in zones A & V and has coverage up to $2,500,000.

Vacancy Coverage

Vacancy must be revealed at the time it occurs but does not force you to take any other actions. There are no time restrictions to the vacancy. Once the tenant moves out, you may choose to allow the property to be vacant for any amount of time and no additional adjustments must be made to the policy. Security and Physical Inspections are only required on a monthly basis during its vacancy.

Payment Options

We offer flexible payments that fit your budget and cash flow needs. You do not pay in advance for your insurance. You are billed for the previous month and charged for only the days that the property is owned. For example, if you own the property from March 1 to March 17, you are only charged for those exact days.

Payment can be made via check or ACH:

Monthly

Quarterly

Semi-Annually

Annually

Seasonal / Vacation Property Insurance

Description

Properly covering your prized vacation property with vacation home insurance is very important to your overall risk management objectives. APIA Inc. specializes in helping you determine the appropriate coverage for your property that is vacant and unoccupied at various times throughout the year. There are no construction, age, or occupancy requirements with our Seasonal/Vacation policy. If the property becomes unoccupied it is only required to be inspected for security and physical damage monthly. The owner, property manager, or other trusted party can accomplish this inspection.

Standard deductible options are $2,500 for residential properties and $5,000 for commercial properties. Other options are available upon request. Liability limits are $1,000,000 per location and $2,000,000 annual aggregate.

Included Coverage

Premises Liability Coverage

Liability coverage comes with a standard $0 deductible and covers you in the event that you are held liable for a claim on or against you or your property. This is one of the most cost effective forms of coverage and helps eliminate the hassles related to dealing with liability claims from tenants, visitors, or other stated individuals.

Property Coverage

This policy covers any kind of loss (fire, lightning, wind, hail, explosion, vandalism, theft, burglary, malicious mischief) unless specifically excluded in the policy documents.

Coinsurance Penalty

There is a 90% coinsurance clause with this policy. This means the insurance on this property must be maintained at 90% of replacement value or higher. If the policy is insured for less than 90% there is an adjustment made to the amount paid out on the claim.

Options

Loss of Rent Coverage

This part of the policy covers your loss in rents due to a covered loss. For example, if a fire occurs in your rental property and the tenant is forced to move, this policy will cover that loss rental income.

Contents Coverage

This coverage can be added to cover the contents of the property that you own and are inside the property. This does not cover the tenant’s property. It would only cover losses to the contents that you own.

Earthquake Coverage

Earthquakes are covered in most states and you can have added peace of mind with this coverage. Only excluded in California and Alaska.

Terrorism Coverage

Terrorism can be included with any policy allowing you to protect yourself even further in the event a terrorist act is committed on your property.

Flood Coverage

Flood coverage can be included in some states. Flood can be insured with a deductible as low as $1,000. Standard flood coverage is only eliminated in zones A & V and has coverage up to $2,500,000.

Vacancy Coverage

Vacancy must be revealed at the time it occurs but does not force you to take any other actions. There are no time restrictions to the vacancy. Once the tenant moves out, you may choose to allow the property to be vacant for any amount of time and no additional adjustments must be made to the policy. Security and Physical Inspections are only required to be performed once a month. The inspections can be performed by the owner, property manager, or other trusted party.

Payment Options

We offer flexible payments that fit your budget and cash flow needs. You do not pay in advance for your insurance. You are billed for the previous month and charged for only the days that the property is owned. For example, if you own the property from March 1 to March 17, you are only charged for those exact days.

Payment can be made via check or ACH:

Monthly

Quarterly

Semi-Annually

Annually