Rehabs - insurance coverage getting scarce ? - Posted by Tom B.
Posted by Tom B. on September 16, 2004 at 19:47:58:
It’s seems that my agent can’t get me coverage anymore for the period during the rehab. He says the rules have changed yet he got me coverage on one a year ago for a reasonable rate. He said three things were the issue: 1. fuse box - no breakers, 2. 60 amp service, 3. no deadbolts (huh?).
Man if it ain’t one thing it’s another. We’re going to fix all three anyhow most likely but need insurance now.
I got a call in to a Zurich agent who said he may be able to do something; I’ll find out tomorrow. Yet he mentioned that I’d have to pay for a year upfront w/ no refund even if I only have the house 3 months. I realize it’s just the cost of doing business but what do the rest of you do for coverage during the unoccupied rehab stage. By the way we re-sell them and don’t hold them, yet at least. Thanks to all!