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Updated over 7 years ago on . Most recent reply
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OKC - Property Insurance Agent Recommendation?
Hi BP! I'm new to OKC and in the process of buying an investment property.
Does anyone have a recommended insurance property insurance agent I can contact for a quote?
The property is located in Mustang, OKC. Thank you in advance!
Most Popular Reply
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If you are buying to renovate or holding it vacant for any period of time you want a builder's risk policy that covers vacant property. If you have any other policy and the property has an issue while vacant the other policies will not cover. Once you get it rented you will need to switch asap to a landlord policy as the vacant for some reason will not cover an occupied property - talk to the agent about what you are doing and they can direct you to the correct coverage.
I would stick with a provider that knows how to cover not only rental properties but also vacant properties as they are set up to insure something vacant - the Farmers and State Farms of the world have an issue with vacant stuff.
There are three major companies that do this type of thing:
www.RealProtect.com which I have already mentioned from National REIA
www.APIAProtects.com which specialize in vacant stuff, but also insure rentals
www.REIGuard.com which someone else mentioned previously
I would call all three to see which would offer the best customer service as I think their pricing is all going to be similar on the vacant and compare quotes for both vacant and rental property.