I am paying cash for my first deal. I am signing papers Monday, and I need homeowners insurance. I plan on rehabbing and flipping by mid to late summer. I called Allstate (who does my residence) and they do not do short term insurance. One other place I called gave me a quote of 750 every three months. Any cheaper insurance out there?
This has been covered before…look for posts by “TedJr” and builders’ policies…
It should be a butt-ton cheaper unless you are insuring a mansion…
Keith
Why don’t you just go through your current carrier and then cancel the policy once you sell? Any unused portion of the premium would be returned to you.
Not neccesarily. With my insurance company once I start my coverage they are "assured"4 months of the premium. After that if I cancel then I get refunded. I went through Foremost Insurance and it cost me 460.00
Nate-WI
Gordo,
Yup, you are correct. I should have told 'em to check with their carrier for any riders and such. Good call.