Cheap Home Owners Insurance Where?
I have just purchased a 4 unit building and I am planning on rehabing as part of my mortgage. My problem is finding home owners insurance. Many companies I have contacted will not insure the proberty due to it having a few leaks and chipped paint. allstate quoted me at 2200 dollars and that was due to it being 2500 sf. I bought the home for only 178000 but my mortgage will be 248000 with the rehab. I do not want to tell the company that total. I figure all they need to know is the purchase price for the home. Can somone please let me know where I can find some cheaper insurance????Oh yea its will be owner ocupied as well.
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someone please help.
"CheaP" is not "correct". Please read this article and find an Agent that understands REI. Local group, referral, etc...
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=438
Best regards,
Tim
I suggest find a Foremost agent they seem to have the best rates from what I have found
Foremost is a good company, but may not be the best policy in every situation. Find an Agent that understands (and preferably invests) the REI "business".
Tim