Insuring a home with foundation issues

2 Replies

Hi BP community, I'm looking for some advice on insuring a SFR property I have under contract in Norman, Oklahoma. I'm using hard money to purchase and renovate the property and that process has been going smoothly. The only issue is that the property has foundation issues that need to be addressed. I have good quotes from repair companies that are ready to do the work upon closing.

The only thing is that I'm running into problems finding an insurance company that will insure a home that is vacant and has these issues. This is the first time that I've bought a house with foundation issues so I'm wondering if anyone on here can give me some advice/recommendations for insurance companies that might insure this type of property.

Hi Kellen,

I own 4 SF rental houses in Norman, as well as a SF house of my own here.  I've never had an insurance company ask me about foundation issues when giving me a quote, or had them require a foundation inspection before writing a policy.  They do always seem to need to do a roof inspection though.  Is there something unusual about this property?  Has it been vacant a long time or currently deemed uninhabitable?