Updated almost 11 years ago on . Most recent reply
Insurance during the rehab phase
I'd like to ask a question on what type of insurance is best for a house during the rehab phase, before I would rent it out to tenants? This is the phase after closing but before the tenants actually move in. Anything can happen, so obviously I would pay for the insurance, but I'm interested in what kind I should get, because first I won't know exactly how long it would take me to rehab the place, so I don't want to go in a situation where I sign up for some insurance which forces me to pay for the full year and I'm done with the rehab in 6 months. The other point is I'm guessing my insurance would have to change from the rehab phase to the rent-out phase, since it's a different type of risk and the insurance company would obviously have to know exactly which phase the house is in. Any comments would be greatly appreciated, thanks.