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Author Topic: Insurance policies  (Read 2116 times)

Offline JayDee

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Insurance policies
« on: October 15, 2005, 12:48:35 pm »
Good afternoon,
Question: You have to find an insurance policy before you come to closing, right?
When contacting the insurance companies, are they going to ask you if the insurance is on investment prop or a primary res? If so, are there cost differences between the two policies?
Thanks! 8)
JayDee

Offline phuy9450

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Re:Insurance policies
« Reply #1 on: October 15, 2005, 12:52:21 pm »
I have a rental home in CA with ins coverage about $250k. The premium difference between rental home and primary resident is $40.00 per year, not a big amount.

Offline kdhastedt

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Re:Insurance policies
« Reply #2 on: October 15, 2005, 06:47:25 pm »

My rental property insurance is a lot cheaper than my investment property policies...but the rental properties are a lot cheaper than my residence!  I pay about $250 a year for rental property insurance.  With a rental, you are insuring the property and not the contents...the tenants must insure their own contents.

The only time that you HAVE to have insurance at closing is if you are taking a mortgage on the property.

Keith
I have CDO...it's like OCD but in alphabetical order - the way it should be!

 




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