The problem is that most brokers are unwilling to go the extra steps to ensure that they have lease option documentation that satisfies state requirements for their agents...thus mitigating the risks and making sure that these deals will still be covered by their insurance carriers.

For my next purchase I'm looking at going with another carrier that lets me choose the amount I'm comfortable insuring it for.

Have you gotten a quote from you homeowners insurance carrier?

What I picked up on here is that the OP changed the carrier (direct mail term for "envelope") from one type (#10) to (A2) as well as left it unsealed.

The problem is you are paying premiums for $190,000 of coverage when the carrier is not going to pay that out when you have a claim.Hopefully this reply is useful for you.

Second, let the carrier know that you're going to dispute the settlement.

Our kids are adults so several years ago we went as separate corp's & it has worked here in NY SO FAR with $6500 (individual) deductibles ...but (& without getting political) we have been advised by our carrier that the full force of ACA is yet to hit our respective plan(s).

I have been in the insurance industry for many years for one of the largest carriers (on the claims side) and I have seen what a loss can do to you.If you have an LLC you probably can (and should) afford the policy(s) needed to accurately protect your interests.

If you want junkers you send postcards into a specific carrier route in a specific zip code of lower end properties.If you want Subject to deals get a list of expired listings from a realtor in your reia group.

I like independant brokers because the truth is carriers put huge pressure on their brokers to sell their stuff whether it's best for the client or not.