Can anyone give me some information on where I can find homeowners insurance while we will be rehabbing a property (vacant)? My personal insurance quoted a non-refundable, non-renewable 6 month policy of $1500. I would appreciate any and all advice on this topic. Thank you.
Thank you very much. I will do that.
you need a builder’s policy
Homeowner’s won’t cover your vacant property in the process of renovation, even if you’re paying for it. read the policy for more details.
I get my builders risk through my homeowners agent, but they sub it out to another company. Scottsdale Casualty, I think. About $750 for 90 days, so you’re in the ballpark.
I did find a cheap policy through the state of PA. My local Allstate guy told me to call them. I did indicate on the form that the property was vacant and filled out an additional form about property renovation. I spoke to a person there who guided me thourough it. I’m just a little nervous since your saying I have to use a builders policy and that homeowners won’t cover it-check your policy. Can you tell me more? Thank you.