Hold over insurance during Reno

[James P.]

Hey BP

Closed a property in upstate NY near Monticello. Very excited to get it going. BUT, wanted to get some feedback from the BP group. Should we get some type of property insurance for the house while renovations are being completed and the property is not yet ready for tenants? Would be short term maybe 4-5 months. 

Please let me know your thoughts and any recommendations that you might have. 

Thanks again everyone for your guidance. 

[Patrick Drury]

@James P.
Definitely let your insurance agent know so you can get your policy adjusted. Do not be like most people that don't say anything while renovating because if there is a fire or something happens to the property and you need to file a claim and they find out it's been sitting vacant and not occupied, you will be very disappointed. Definitely consult your insurance agent and see what they have to say.