What Is the Best Insurance for an Investment Property?
I get this question all the time but I’m not an insurance agent. This is insurance for a residential investment property, to remain vacant, that will be fixed up and sold. I have always recommended a basic hazard insurance policy. But because there’s no intent to rent the property, it wouldn’t be a ‘landlord/tenant’ policy. As I understand, it is more costly to purchase an insurance policy for an investment property that is vacant, versus a property that has a tenant occupying it.
What would you recommend to our clients who ask me what the best insurance is for a rehab, fix and flip investment property that will not be tenant occupied?
