Investor Friendly Property Insurance Companies in Pittsburgh

8 Replies

This is a new one.  Ive heard people looking for investor friendly, agents, lenders, title companies...but an insurance company is a first.  What can a regular insurance broker not get you that you need?

@Russell Brazil There are quite a few insurance companies that are difficult to work with in the investment real estate space. Some, like State Farm, like their properties to be in good condition before they'll issue a policy. For us, that just isn't practical.

@Nicodemus Pikras I am curious as to why you are concerned about insurance in the first place if your business is wholesaling. If you are never taking title to the property you don't need insurance. Your sales agreement should have a clause that states that the owner/seller is to keep their policy in effect until close of escrow.

Nicodemus,

My advice for you is to learn more about what you are trying to do, Real Estate Investing. You can do this by taking real estate courses or finding a legit mentor, someone who is/has bought and held, flipped and/or assigned a purchase contract.

Nick

Originally posted by @Account Closed :

Nicodemus,

My advice for you is to learn more about what you are trying to do, Real Estate Investing. You can do this by taking real estate courses or finding a legit mentor, someone who is/has bought and held, flipped and/or assigned a purchase contract.

Nick

 My apologies, I had just reviewed my original post and didn't mention I am a prospective rehabber. Yes, wholesaling is what I do, rehabbing is just the next step on the ladder for me. Sorry about the lack of clarification. 

Originally posted by @Jason Bott :

@Nicodemus Pikras I will second  @Jerry Kisasonak 's comments.  I have spoken with several wholesalers and if you are truly staying in the wholesaling space, you never have an insurable interest in the property.

 I had just replied to another commenter in this post, I had to apologize for not being completely clear in my post. As I am a wholesaler, I am a prospective rehabber. The inquiry was rehab related, I do apologize, but appreciate your response.

Originally posted by @Jerry Kisasonak :

To answer your question, we've used Rebecca Wanovich at Pierson & Scott Insurance. Google them for contact info. Investor friendly. 

 Thank you very much Jerry for your insightful responses.. I wanted to personally apologize for creating a crowd of confusion through my post. I had realized I did not mention I am a prospective rehabber, which was the purpose for asking the question in the first place. Again I apologize to everyone.. I can clearly see how much of the commenting has generated inquisitiveness on my credibility and knowledge in real estate! But I thank you all for the responses!