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Updated almost 9 years ago on . Most recent reply

User Stats

6
Posts
1
Votes
Ben Larson
  • Cottage Grove, WI
1
Votes |
6
Posts

Gap Insurance Question

Ben Larson
  • Cottage Grove, WI
Posted

I bought a duplex that is currently occupied on both sides.  Both tennants have a month-to-month lease which contains a provision of 45-day notice.  We close on June 15th at which point I will give notice to both sides because we are going to owner-occupy and raise the rent and change lease terms for the other side.  We will take occupancy on one side on July 30th.    I was able to get a good rate on homeowners insurance for the long term, but I am looking at having to purchase a policy for the 45-day period before we take occupancy.  This might cost me as much as $600 because my agent cannot find a policy that will only last 6 weeks... instead we would have to buy a year-long policy then pay a hefty cancellation fee and start our normal homeowners policy.    Does anyone know if a "gap" policy exists for maybe just $200-$300 to cover 6 weeks?  If so, where is a good place to look for something like that?  

Thanks!

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