Rehabbers Insurance

Comments(7)

• 
  Sunre23rd March, 2004

  I don't know about your area, but in Florida I use Builders Risk Plan with Florida Insurance Planners. The number is 407-896-3323
  
  Hope this helps.

• 
  wstone123rd March, 2004

  Provide insurance is a pretty broad request. What type of insurance? For the house, for your workers, for liability? What are you trying to insure against? Call your local agent for your personal insurance.
  [addsig]

• 
  CleveOHHomeBuyer23rd March, 2004

  Tim,
  Your insurance agent probably doesn't write "vacant house" policies (assumes rehab in progress) but should be able to refer you to someone who does.
  
  FYI, they are expensive. Figure a normal full yr premium for 3 months of coverage. Typically they also don't prorate, if you cancel during the 3 months you don't get any type of refund.
  
  but this is a risky situation for the insurance company + if you get a normal policy and the house burns for instance, it will be apparent that the house was vacant, a rehab was in progress and there's no way your claim will be paid.
  
  good luck

• 
  STEVEMOTT23rd March, 2004

  Quote:
  On 2004-03-23 16:36, tjbab wrote:
  Does anybody know of a ins company that will provide ins while i rehab a property.
  Thanks
  tim
  
  In your area check around and find a agent that can write for zurich, check with farmers they are affiliated with zurich.tell them you want a remodelers (builders risk policy)I typically pay about 650 per house.some others policy exclude vacant homes be careful.this shouls be your best policy same as builders use and required by most banks.

• 
  InActive_Account23rd March, 2004

  Tim
  
  Have you asked your local agent yet?
  
  They may want to set you up with a commercial policy unless you intend to live there after the rehab.
  
  The last place cost me $1700 a year with $1000 deductable, If I lived there it would have cost $450
  
  Best of Luck
  JohnNH

• 
  norrist24th March, 2004

  Foremost Insurance has a couple of plans designed for the rehabber. Check with an Agent that writes for them. Tim

• 
  jam20025th March, 2004

  Yeah, Foremost is who I use. For a 100k of Builders Risk insurance, I think it's like $800.00 for a year, here.