I switched to Obie a few years back and I was very happy- good service, easy platform, competitive price. That's over now. I recently did a BRRR and it was a nightmare. First the guy quotes me a $9k premium on a $500k house with with $50k cosmetic renovation. I said no way. He comes back with a $5k Policy. Fine. Then when rented I needed a new policy- no problem he says we can just endorse your builders risk over- AGAIN, I had to be like- ah- NO, different carriers have different appetites, please shop it. Finds another carrier, price a little high at about $3,600 but OK. THEN, my lender happened to have a different Obie contact, she slips in an unknown $5k premium Policy I almost got saddled with until I noticed it and said no...then proceeds to tell me I need a "commercial package" and it is more expensive than a "landlord" package- I ask for clarification as it is a 3-fam not 5+ - she could not provide an answer and instead just corrected it back to the $3,600...actually they lowered my coverage to the loan amount (lower than I asked for) and it was like $3,100- after all this nonsense I just went to a local agent and got better coverage at a better price. ALSO, I have another 5-Unit Policy with them which somehow disappeared from my account on the Obie web page...no problem things happen, they have a box specifically for this on their website so I guess it is a frequent error with which they like to confuse their customers. Literally says on the Portal "Don't see your policy? Let us grab it for you! Click the chat icon..." Chat was unable to help...2 weeks later I get an email form Obie with a bologna excuse as to why they can't populate my policy in my account on my Obie dashboard of policies. As I said, run, they have fallen apart. Investors need to be able to access carriers direct via tech and realize savings bc we often know more than the agents, and the agents have a conflict of interest in as much as they want to sell you the highest premium to earn the highest commission. I feel like Obie WAS trying to do Insurance via tech, but somehow it got messed up by agents...Someone else needs to step up, or step-in to this space...Good Luck my fellow RE Investors!
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Obie is an insurance technology company, hyper-focused on driving value for the modern real estate investor and the partners they work with every day. Whether you are an owner, lender, agent, or property manager, Obie’s mission is to build technology and insurance products that drive efficiency and fundamentally change the way insurance is bought and sold.
