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Updated over 10 years ago on . Most recent reply

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Will Gaston
  • Rental Property Investor
  • Columbia, SC
2,215
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How can I get insurance on a property I will only own a few weeks?

Will Gaston
  • Rental Property Investor
  • Columbia, SC
Posted

Hello All,

I'm closing on two properties this week for $5,000 each. I am trying to find somebody to wholesale them to but may not be able to before I have close on them on Friday. (I do not want to push the closing back because of the relationship I have with the seller).

How can I get insurance on them? I will probably only own these properties for a week or two max.  Not worried about the property, but rather about my liability.

My insurance agent does not want to insure them on a landlord's policy for one week and he doesn't think that I could add them to my homeowner's.  I also have an umbrella policy with another company that has an additional liability on all of my other rentals. But I believe if I added those to the umbrella policy they would require a regular landlord policy to be place as well.

Anybody have in suggestions?  I doubt anything will happen, but that's what insurance is for, right?

  • Will Gaston
  • Most Popular Reply

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    Steve Babiak
    • Real Estate Investor
    • Audubon, PA
    8,351
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    Steve Babiak
    • Real Estate Investor
    • Audubon, PA
    Replied

    The company given in the profile of @Tim Norris should be able to insure this for you. 

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