When real estate investors buy distressed properties or homes that are in need of a renovation a standard landlord dwelling policy will not cover any claims on a vacant home under renovations
When a property is vacant you need to buy a renovation builders risk policy or a vacant home insurance policy
Our new Renovation insurance property insurance program will provide the coverage Real Estate investors need for
- Vacant properties up for sale
- Short term renovation fix and flip properties
- Buy and hold properties in need of a few months of renovations before the tenant moves in
Vacant Properties Up For Sale
When a property is vacant and unoccupied on a regular insurance policy future claims could be denied
Water damage from busted pipes is common claim denial when a property is vacant
Theft or vandalism would be excluded as well
Make sure you purchase a Vacant policy to get coverage and you can buy our policy on a month to month billing so you only buy the coverage 30 days at a time
Short-Term Renovation Fix and Flip
If you are buying a property to renovate and put it back up on the market you need to purchase a renovation policy that also covers the property when the project is complete and up for sale
Buy and Hold Tenant Occupied Properties
Our program will allow you to endorse or change the policy from vacant to renovation to occupied on one insurance policy so you don’t have to purchase a few policies during a renovation project
Our New Rental Advantage Program Includes
Homes that may not be accepted into a standard insurance program such as
- Flat Roof
- Aluminum wiring pigtailed
- Fuses
- Vacant
- Window units
- Bars on windows
- Asbestos siding
- No prior insurance
One policy for all types of properties for Real Estate investors
About the Author: Steven Elkins
