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

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