Insurance Tip
I thought I would share an insurance tip.
I was looking for insurance on a rehab house. Vacant of course and in bad shape. I was getting quotes of $1,000 annually for 60k coverage with $1,000 deductible. Ouch
I was talking with my personal agent, whose company wouldn't write this house, and he suggested the "insurance pool". See here in Ohio if you can't get insurance then you can be written with the Ohio Fair Plan. All companies doing business in Ohio are then required to take a certain percentage of risk from this pool. To my astonishment they even have a "rehab rider" for rehabs!!! You MUST ask for this rider. Same coverage as above is only $250 every 6 months. The only catch is that you only have a year to rehab the property and when the rehab is done, you must get other insurance within a month or two. But when is the rehab really done? 
If you don't live in Ohio then check if your state has a similiar pool.
No liability coverage with non-owner occupied property with the Ohio Fair Plan, however. If you have a business Umbrella, though, depending on the carrier, this may not be an issue...[ Edited by norrist on Date 07/17/2004 ]
Right. I should have mentioned its just dwelling coverage not business coverage
Your comparison of the rehab policy to the OFP is "apples and oranges", assuming liability was included in the package. The OFP is the "last choice" in obtaining coverage, in my opinion. It serves it's purpose, but be wary of using it due to coverage deficiencies, causes-of-loss, etc...
Best regards,
Tim