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Updated over 2 years ago on . Most recent reply
![Adam Gonzalez's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2308404/1652993389-avatar-adamg387.jpg?twic=v1/output=image/crop=1960x1960@699x0/cover=128x128&v=2)
2nd Home Insurance - Stuck
Hey everyone:
So I put an offer down on a home which was accepted. This will be funded via a 2nd home loan. I do not currently own my primary residence. The lender is requiring a quote for home owner's insurance for the "2nd home" which must have a replacement cost insurance policy. When speaking to my primary insurance carrier, they indicated they cannot cover me because I do not own my primary residence. I am unsure what to do in this situation. When speaking with the lender, they indicated you can get a 2nd home loan without owning a primary residence. If that is the case, then how do people get insured in this situation? Any help would be useful. Thank you!
- Adam G.
Most Popular Reply
![Ryan Kempkens's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/187618/1676646626-avatar-kemp524.jpg?twic=v1/output=image/crop=612x612@0x0/cover=128x128&v=2)
Find an independent agent in your area and discuss your plans for the property and have them quote you multiple carriers. There is a market for what your looking for, it will be insured as Home-rented to others. You current insurer may not write that kind of business but there are other companies that will and the process to get a quote for the lender is very simple and can be done quickly by a good agent. It's a good ideal to form a relationship with an good agent early they will be a valuable resource to you.