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Updated over 9 years ago on . Most recent reply

Account Closed
  • Rotonda West, FL
8
Votes |
59
Posts

Insurance during the rehab phase

Account Closed
  • Rotonda West, FL
Posted

I'd like to ask a question on what type of insurance is best for a house during the rehab phase, before I would rent it out to tenants?  This is the phase after closing but before the tenants actually move in.  Anything can happen, so obviously I would pay for the insurance, but I'm interested in what kind I should get, because first I won't know exactly how long it would take me to rehab the place, so I don't want to go in a situation where I sign up for some insurance which forces me to pay for the full year and I'm done with the rehab in 6 months.  The other point is I'm guessing my insurance would have to change from the rehab phase to the rent-out phase, since it's a different type of risk and the insurance company would obviously have to know exactly which phase the house is in.  Any comments would be greatly appreciated, thanks.

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