I'm purchasing a property in Odessa Texas. I'm looking for reasonable Insurance on a vacant for a period of 6 months. Who does everyone use? The home is 1,765 sq ft and purchased for $171K. Any advice would be great. What rate should I anticpate to pay?
I don't know the home condition but I had a company from Colorado looking for a corporate rental in the area I might be able to hook you up with if your ready to rent. Then Maybe you could skip the vacant property insurance.
@Michael Barrett not a lot of traction on your request. I have found the insurance for my flips through and independent insurance broker. They have access to various sources. You can find them via word of mouth. You might also reach out to local hard money lenders. They sometimes know of insurance for vacant properties because they lend on them and sometimes end up owning them.
The insurance on my most recent flip is about $2k per year. It's value is about 2x of yours but insurance rates vary significantly from state to state.
@Michael Barrett Look up Hallmark Insurance and find a local agent. I've used them several times and they were easy to deal with. Never had a claim, so no experience there.
Foremost. Used twice. Not cheap but branch of one if the bigger companies..farmers maybe.