London, UK · Member since 2016 · 76 posts · 45 votes
I'm currently in the process of closing on a property that will need about 1-2 weeks of renovation before searching for a tenant. It's a 3 bedroom 1 full bathroom 986 sq ft (detached car garage) built in 1950 with all newer big ticket items (roofing, hvac, plumbing/electrical) located in the 44135 zip-code . I'm on the search for insurance companies that can do temporary vacant home owners insurance and then switch to occupied once a tenant has been placed in. The two quotes that i have gathered have come back higher then myself, my agent, and lender expected ( 60/month)...one a smaller insurance company for about 82/month and the other farmers fora bout 76/month vacant...Any recommendations for more competitive insurance companies to consider would be great!
Give my guy @Ryan Ingram a call. He’s handling my insurance on my portfolio and he’s an investor as well. We can’t post numbers here but he works for Thomas & Grushon.
I'm currently in the process of closing on a property that will need about 1-2 weeks of renovation before searching for a tenant. It's a 3 bedroom 1 full bathroom 986 sq ft (detached car garage) built in 1950 with all newer big ticket items (roofing, hvac, plumbing/electrical) located in the 44135 zip-code . I'm on the search for insurance companies that can do temporary vacant home owners insurance and then switch to occupied once a tenant has been placed in. The two quotes that i have gathered have come back higher then myself, my agent, and lender expected ( 60/month)...one a smaller insurance company for about 82/month and the other farmers fora bout 76/month vacant...Any recommendations for more competitive insurance companies to consider would be great!
Best,
Char
Congrats on the deal!
Connect with Andrew Betts at the Ryan Cole agency in Brook Park. He's helped many out of state, and even more out of country investors with their insurance needs. The numbers you're getting are about right for a 1950's Cleveland house, the most common I've seen is $68/mo. when vacant, less once occupied.