Getting Homeowners Insurance for a rental property

[Maneesh Joshi]

Hello All,

So I am planning on buying my first investment property in Philadelphia that I plan on renting out ASAP. When speaking my State Farm insurance they indicated to me that the investment property needs to be occupied by someone within 30 days with a copy of the the lease agreement and that there is no way around that(if not the policy will be cancelled). I cant imagine being able to occupy the property within 30 days. Has anyone else encountered this? Any suggestions?

Thanks,

Maneesh