Rental Property Investor · Raleigh, NC · Member since 2018 · 28 posts · 5 votes
Hey, I’m in the process of purchasing a lot in Garner. The insurance company that I normally use do not provide coverage for land only. Anybody mind sharing an insurance agent for land only? Your help is greatly appreciated
Insurance Broker · Kansas City, MO · Member since 2017 · 370 posts · 127 votes
7y
@Raheem Jenkins Great question. Depending on what your plan is for the land there are a couple things you'll be able to consider. If you are not going to build or do anything on your land, your current homeowners liability will extend to that piece of land. If/when you break ground to build a property on the land, you would need what is called a "Builders Risk" policy. This policy provides protection for the structure as it is being built.
If you have further questions, feel free to message me.
Rental Property Investor · Raleigh, NC · Member since 2018 · 28 posts · 5 votes
7y
@Matt Moylan hey Matt, thanks for the information. I was told i had to have it based off me not giving all information. I’m covered with insurance I do have. I’m all squared away now.