203k Homeowners Insurance?

[Eric La Pratt]

I'm weeks away from closing on a 203k in Chicago (proper) and need insurance. Getting a quote has been difficult. I'm being told I can't get a homeowners policy, that I need a very expensive builders risk and general liability policy or a vacant dwelling + rehab policy. However I need a quote to get pre-approved and need a policy to close. What gives? Any suggestions? Are there any Illinois insurance brokers who are used to this?

[Zach Shepard]

Hey @Eric La Pratt, will this deal be owner-occupied or is it a flip? Regardless I know of a couple good insurance agents. Give Patrick McCarthy a call at McCarthy & Co Insurance. Just relay your situation and I bet he can help you out. He's a sharp guy and knows lots of products for investors and rehabs.

Good luck! 

Thanks for the mention @Brie Schmidt! I should probably be on here more often! ;)

- Zach

So it looks like I can't post his number on here, but shoot me an email and I'll give you his info.