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.
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