STR - Can't Get Property Insurance!

[Logan M Walters]

Hello and thanks to everyone in advance for your help and time! I've been following BP for over a year and have been running numbers and watching for deals in the NE Arkansas real estate market while stocking cash reserves. This is my first post to reach out for help from the community. My wife and I recently turned our primary residence into a long term rental and we are now looking at an awesome STR deal at Lake Norfork, about 2.5 hours from where we live, as our 2nd rental property.

I've been working on my due diligence for the property and have run into an issue where State Farm will not insure STR properties. The property has a lake house and a mobile home on the same plot. The home was built while the owner was living in the mobile home, and after completion, they decided to keep the mobile home as well. I want to rent out both the mobile and the house. Based on my understanding so far, I'm needing to get two separate policies to cover each dwelling. Does anyone have experience in this situation? I'm needing a recommendation for an insurance company that will insure STRs or a work around to get the place insured. I have an LLC setup and can consider commercial lending and commercial insurance options. Any advice would be greatly appreciated! Thanks!