Re: Hazard/Liability Insurance in VA. - Posted by Max W.
Posted by Max W. on November 09, 1998 at 21:44:30:
I have found that many insurance companies won’t touch the properties that I invest in for a number of reasons: The first is that I don’t have my personal residence insurance with them. Secondly, the house may not have a certain amperage rating or the HVAC system may be older. The last reason is that many companies won’t touch a vacant house with a ten foot pole due to the increased risk.
Virginia Property Insurance Association is one company that will write all of the above. They will even insure rehab properties. They aren’t cheap, but they are able to provide quick coverage without jumping through hoops. All of the agents I have spoken to locally can write a policy for them. They work exclusively through VA insurance agents.
You may deal with higher end properties and not have some of the problems I mentioned although the first issue and the vacancy problem is universal regardless of property value. I hope this helps.