If the agent isn't making you feel warm and fuzzy, I'd call the provider / carrier directly and ask about it. 

I'm learning more and more about this and have reached out to my insurance agent to see if he can speak with my carrier on Monday and ask them on my behalf to deny the claim.

As to HUD, being barred is a carrier changer, in reality you won't be doing much or getting any license or errors or omission's coverage, liability coverage for a professional RE position.

If the carrier includes this language, they are not in a position to use any type of comparison of limit versus the ultimate true RC value.

Originally posted by BryanA:of course, an attorney told me that you don't really get the money if the building burns to the ground anyways...they just pay off your note and you're left with the dirt...Hmmm, that doesn't sound right, but I will double-check with my carrier.

Then continue as to what constitutes default and actions required or taken.Okay, maybe my fees are a little too stiff, LOL  "delivered" means by hand by the tenant or their agent, by carrier pigeon, by electronic transfer, automatic withdrawls, U.S.

@Kyle Davis Each insurance carrier has a % of occupancy that dictates when it will be considered vacant.  

Hi Thomas,First, regardless of whether you own in your personal name or LLC, you really should have all of your properties on a commercial property form master policy type policy, with an agency that is licensed in all 50 states for many reasons, not the least of which are convenience, incrementally lower premiums, receiving some coverage you cannot obtain on a "personal" lines policy and really because anything used to derive income is considered by the IRS to be a "business" exposure, just to name a few.Pricing and structure of course vary by carrier and there are less than a hand full out there that can structure things the way I've suggested.Hope that helps.Ivan

Since moving out of state and having to change my auto coverage to a different carrier, my rates on the policies for my rentals went up astronomically; nearly threefold.  

At the time of inspection and final walk thru everything was in good working order and even though the furnace is a Carrier, it is well passed its life expectancy for a heat pump.Although i have the money to completely replace the system, I also looked into home warranties.