I am currently purchasing a turnkey rental from JWB in Jacksonville and just found out that when the agent went to bind the policy, the carrier declined coverage. In speaking with the insurance agent (Ricci Insurance), they explained that the reason for the policy denial was that I have an open claim on another rental property that I own in Miami-Dade County. I own several properties and as if 2020 wasn't bad enough with everything going on, I had to file an insurance claim for a roof leak/ water damage caused by a tropical storm. From what I am being told so far, if you have any open claims insurance companies will not write a new policy. The open claim has not been resolved yet and I do not know when it will be resolved as the claim is still being processed and I have a public adjuster working it for me. 

This is extremely frustrating because now I do not know if I am going to be able to close since it doesn't look like I will be able to insure the property. I am also very concerned with the $5,000 deposit that is non-refundable per the purchase and sales agreement that JWB uses. I must say that I have never experienced anything like this and it has definitely caught me off guard. I am kind of in limbo now until I can somehow obtain a policy. Has anyone else experienced this type of problem? If so, how were you able to solve it? Any insight or advice would be greatly appreciated!