homeowners insurance and equity loan question

5 Replies


I'm in the process of getting an equity loan on my house that is in need of some repairs (eg. flooring, drywall, plumping, electrical). To qualify for this loan I need home owners insurance but when speaking with a vendor they stated if the home is in rough shape (which it is) they will not even consider covering it. That said does anyone have a recommended home owners insurance companies that will work with you while a house is being worked on?


Wayne is correct.  Some companies refer to it as a Renovation Builders Risk.  There are other possible options in specialty (aka excess/surplus lines).  American Modern Home and Foremost are two regular companies that may have more liberal guidelines.

If you are unable to find an agent who can access those options PM me and I will check the company sites for possible agents.

@Jimmy Luciano glad to help you with a Builders Risk Policy if you need one.

I work with a lot of investors and actually reading the lenders requirements has helped my clients avoid delayed settlements.