Can't Find Insurance for Condo as a Rental Held in LLC

[Brandon Johnson]

I'm not sure if has as much to do with the fact that I purchased in my LLC, but the insurance policy I had on the property gave me a cancellation notice because they did an inspection and determined the firewall did not extend through the roof of the building. Now I am having a good bit of trouble finding a policy for this unit. The one I did find was ridiculously priced.

This unit is parceled as a townhouse, but it acts more like a condo. The HOA insurance covers the exterior of the structure excluding the roof. My agent is now trying to find a commercial policy to fit the situation. It is currently vacant while I am renovating it and I am still trying to decide if I will attempt to resell it first or hold it as a rental. This insurance may be the deciding factor. Does anyone know why condos as rentals are so hard to insure and do you know any companies I should contact that you know write this type of policy?

Thanks, 

Brandon

Take action and I'll see you at the top!

[Jean Bolger]

This makes no sense, since walls don't extend through roofs. I think you may just have been talking with someone with a poor grasp of prepositions.

Here's a quick bit on townhouse firewalls: http://www.inman.com/2013/01/29/is-your-townhomes-firewall-code/

I'm no expert, but I don't think this would be an expensive or complicated thing to address.