Spray-in-place Foam Insulation, Worth The $$$?
I am considering foam insulation for a SF rehab. I plan on living their for the long haul.
Has anyone experienced any negatives with foam insulation outside of the price? The biggest negative I can think of is the inabilty to fish wire through the house after your insulated and drywalled.
any input?
looking for additional advice.
Max,
I think you may want to consult with an Attorney that "specializes" in asset protection planning. I am certain this is an arena that one really needs some collective professional advice (insurance agent, attorney, et. al.).
Best regards,
Tim
Norrist:
This is after consulting with many different insurance agents and my own RE attorney. I am referring back to the community for some additional thoughts.
Thanks
I assumed you had consulted with the RE Attorney, I was suggesting yopu contact an asset protection strategist/specialist additionally. Your RE Attorney may be such.
Tim
what are the rates for the two policies?
Are you using a land trust, LLC, or titling them in your personal name?
the umbrella policy will probably require underlying liaiblity limits to be raised on all your hazard and automobile policies. Mine requires 500k underlying liability on my rental dwellings. Why not purchase both policies? You are going to need a rental dwelling policy anyway, adn the first on you describe sounds like a rental dwelling with a high liability coverage. Which is just what you need for the umbrella.
It will be tough to find "all-risk" insurance in the vacant/rehab marketplace. Many of the contracts in this arena are written on a "named-peril" basis...
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My personal umbrella does not cover any of my properties because I have more than 4 properties. My commercial umbrella does not cover vacant properties. With vacants (rehabs) I put them in my LLC name and get 500k liability.
Brenda
Many times a commercial umbrella will cover exposures that are not covered by underlying policies. In such a case, however, coverage is subject to a self-insured retention of many times $10,000 or more. A "self-insured retention" is a fancy name for a deductible.
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Best regards,
Tim[ Edited by norrist on Date 10/05/2005 ]
I definitely struggle on insuring rehabs because they are vacant and I dont have an entity set-up quite yet. I have found the vacant property insurance for a rehab to be expensive and have the same general questions listed in this forum.
Hi Jim,
AMIG (American Modern), Diamond States, and Foremost offer rehab insurance contracts.
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