Posted by Perry IL on May 02, 2000 at 22:34:30:
I live in a town with a population of 15,000. Maybe a dozen insurance companies exist. Couldn’t get any one of them to insure my rehabs. This was about to become a MAJOR stumbling block to financing. Glad someone asked the question.
The fact that there is a company actively engaged in the business of insuring properties in this situation is encouraging.
I had been quoted a price of $1,400, plus some change, for an annual term, and then the company refused to insure the property upon learning of the amount of time that the home had been vacant. (Since Dec., 1992.)
Thanks Jim, I’ll track down Lloyd’s and post the results as they occur. Perry, IL.
Nice to commensurate with you in St. Louis, albeit in an all too brief encounter however. Airborne !