But most of what it ends up being is bank or escrow or company policy.  

As investors, we're not arbiters of public policy and we don't get to decide whether the "spirit" of the rule was broken or not.

I think the important thing is to have a policy and stick to it consistently so tenants know what to expect.

Once the the insurance company I was working with realized I live out of state, and that they wouldn't be able to also carry my auto policy, the prices skyrocketed from ~$2,000/year to ~$9,000/year, which would put me upside down on the property I am looking to purchase.Does anyone know what is causing this, other ways to pursue out of state insurance, or insurance companies that would be interested in this type of risk without an auto loan?

Hello Everyone, I'm fairly new to the Biggerpockets community and real estate investment. I'm contemplating purchasing my first single family home / condo investment property in Northern California. I'm currently in t...

We already have a commercial insurance policy in place with 2/4MM liability but still would like to have the protection of the LLC, as well as build credit in the LLC to be able to buy future properties in the LLC name.

Some lenders may impose their own policies but it's not a requirement by law.You can cancel your contract at anytime if you feel the property is not up to the standard you wish within the limits of your contract.

Insurance companies make money on their policies, so that fundamentally says the bet you make (your premium) is more then the expectation value of a claim.

They then are reimbursed for the remaining fuel after final inspection of the house .I have a service policy on the furnace , the tenants must purchase fuel from the company holding the policy .

It's obvious it has happened to them before with a previous client.All I say is let common sense prevail in these situations.I am sorry to hear you are having this experience.Many insurance companies won't write insurance policies on these really older homes unless documentation has been shown that all major electrical,plumbing,rood,etc. has been replaced.The insurance company knows just like you are experiencing that if they are not replaced repair after repair will drain them dry in payouts.