Rehab Insurance
I am looking for a contact for an insurer that has reasonable rates for insuring a property while it is being rehabbed. The quotes I have been getting are more than double a normal rental policy.
Thanks.
I am looking for a contact for an insurer that has reasonable rates for insuring a property while it is being rehabbed. The quotes I have been getting are more than double a normal rental policy.
Thanks.
Hey,
I hate to tell you this, but that sounds about right to me. In truth only two times is a pretty good deal.
A vacant house is a bigger liability.
tuckermatt:
if you need insurance in Illinois for vacant property, contact me via email or PM and I can give you some phone numbers to insurance brokers who may be able to help you.
Tuckermatt,
I have a fourplex that was vacant at the time of the start of the rehab. I had to wind up paying as much as I pay in one year, for three months coverage. It cost me $767.00 for three months. I was made to think this was a deal, I did not have a large pool to pick from. So if you are able to get the price that you are stating here, then my friend you better jump on it.
Look on line for a company by the name of Zurich. They have a Builders Risk policy for Remodelers. If my memory serves me, the policy was under $400.00.
I also believe that a sample copy of the policy is on line so that you can check out the coverage.
This company is highly recommended by a woman that I know that does a great deal of rehab. Good luck.
T
We can help you in most cases with a Foremost or Scotsdale policy. They have Rehab Policies that are designed for just that. The premiums are not fully earned like many Builder's Risk contracts.
We can help you in most cases with a Foremost or Scottsdale policy. They have Rehab Policies that are designed for just that. The premiums are not fully earned like many Builder's Risk contracts (you'll get a refund on most, if not all of the coverage you don't need).[ Edited by norrist on Date 11/08/2003 ]