Property Insurance During Renovation & After

[Nayeem Khan]

Hello BP,

I'm a new investor who purchased a SFR in Illinois. I'd like to get the property insured. I'm a bit confused and quite frankly frustrated, as to what policy will best fit this situation. Since the property is vacant I haven't been able to find a homeowners insurance company willing to insure it. My goal is to renovate it and sell it. I would like coverage starting from the time I take possession, during renovation and up until the time it sells. I am concerned about theft during and after renovation so a policy that can cover that would be of utmost importance.

Any ideas on which policy might be the best fit? Is there a local company in Illinois? I’m sure I’m not the first one to deal with this type of situation, so any direction would be greatly appreciated!