Updated about 11 years ago on . Most recent reply
insurance companies that write policies on investment properties
Hello all,
Having trouble finding a local reputable insurance company that will insure my investment property purchases from day 1 of purchase. I invest in Philadelphia Pennsylvania 19134 zip code area. One of my past purchases had knob and tube electrical but working kitchen and bath. And another did not have an operable kitchen. I had to use out of state companies for these 2 flips. Want to work with local companies as much as possible.
It is important to get insured from day 1 of purchase, as I have experienced vandalism in 1 of my vacant properties (stole all my copper piping in house and aluminum window siding in my side alley). I had an alarm system installed next day to link up with my computer. Best investment I made for peace of mind. Did not have any theft issues after installation. Glad I had insurance policy even though I did not claim the loss. They (burglers) were nice enough to turn the water off from the main (lol). If they did not do that I would have needed to file a claim.
Thanks,
Joe M.