Insurance for rehab projects

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Insurance for rehab projects

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Real Estate Investor · London · Member since 2008 · 3k+ posts · 74 votes

What companies (not local agencies) do people find have competitive insurance for rehab projects.

By this I mean a property that is not inhabitable so likely to require a policy that is valid when vacant and under construction.

Foremost would be one.

John Corey

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  • Tom C
    Real Estate Investor · OH · Member since 2008 · 1k+ posts · 86 votes
    19y

    Here is one company that will insure rehabs. State Farm or Allstate will not touch. This company is pretty pricey though

    www.OHIOFAIRPLAN.com

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    OP
    Real Estate Investor · London · Member since 2008 · 3k+ posts · 74 votes
    19y

    Thanks TC. I will check them out.

    John Corey

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  • Josh Clemence
    Real Estate Investor · Covington, IN · Member since 2008 · 15 posts · 1 vote
    18y

    I get mine from Roush. My agent set it up.

    It is a little pricey.

    They will refer to it as Empty Dwelling policy or Construction policy.

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  • Richard Warren
    Real Estate Investor · Las Vegas, NV · Member since 2008 · 1k+ posts · 447 votes
    18y

    Check out Foremost. They will insure vacant properties in most states.

    8)

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  • Timothy W.
    Attorney · Raleigh, NC · Member since 2008 · 4k+ posts · 1k+ votes
    18y

    John,
    I have to second Foremost. The biggest issue with builders risk addendums is vacancy issues. Once you get an occupancy permit and utilities on and have the property "occupied" for less than 29 days at a time, a typical policy will cover you. PM me for further questions.

    Tim

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