Obtaining Insurance For Rental Property
I am two weeks into the due dilligence period and am working insurance at this time. I've talked with two major providers (Allstate, Farmers) and neither is a great option due to price and various other details. I am looking for advice in this area and leads to companies that write policies w/o needing to cover your primary residence. Rates here in ND are genearlly higher than the rest of the country so perhaps I am being unrealistic. But any advice will be much appreciated. Thanks!
Not sure what you mean about w/o covering primary residence
but the way mine is set up is that I have the libility coverage for rentals as a rider on my homeowner policy,
then have a hazard policy on its own with each house with the same company
Good Luck
Lynlinz
Lynlinz, it seems, at least here in ND, that most insurers will not insure rental property unless they also insure your primary residence - the rental property insurance (both liability and hazard) appears to be treated as a rider on your homeowners insurance. Of course, insurance varies widely from state to state.
hueyrescue