Getting Homeowners Insurance for a rental property

3 Replies

Hello All,

So I am planning on buying my first investment property in Philadelphia that I plan on renting out ASAP.  When speaking my State Farm insurance they indicated to me that the investment property needs to be occupied by someone within 30 days with a copy of the the lease agreement and that there is no way around that(if not the policy will be cancelled).    I cant imagine being able to occupy the property within 30 days.  Has anyone else encountered this?  Any suggestions?  



I use Allstate and have never had an issue. Landlord insurance covers the shell of the building only vs. home owner's that covers the belongings inside. Working on a rental right now and am getting landlord insurance without question as the house is empty and they only need to insure the "shell."

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