When to purchase coverage?

[Travis Stokes]

I am currently in the process of completing my first deal. I have had an offer accepted on a quadplex and just had the inspection completed today. I am also currently completing my mortgage application. I would like to know at what point should I purchase my landlord insurance coverage? I would imagine I would not need it until I closed but I am just curious as to the timing. I appreciate any advice.

[Jon Holdman]

Get the coverage arranged as soon as you can. But have the payment come out of closing and the coverage start at closing. You could just pay the agent directly and have the coverage start whenever you want. But if closing gets delayed, you can end up paying for coverage on a property you don't yet own.