short term insurance for house in Indiana?

Question

Hi all - I just bought a house outside Indianapolis, and paid 1 year's insurance up front - but since the rehab took longer than expected, the insurance company is now dropping the insurance. I basically need a few weeks of insurance for the vacant property while my property manager finds a tenant. Any ideas for a reasonably priced solution?

Account Closed · Answer

@Michael Kirstein I have two south of yours.  I used American Modern during the rehab period (it was sold through an Allstate agent).  They had automatic monthly billing to a credit card.  I ended up switching to REI guard after rehab - only because of the level of coverage.

Michael Kirstein · Answer

thanks Ed - it appears that state farm is the cheapest option for me for regular insurance, also compared to REI guard.

Michael Kirstein · Answer

thank you all, much appreciated!

Jason Bott · Answer

@Michael Kirstein there are several policies out there that can convert from a vacant building to an occupied one.  Billing is month to month, so not 90 day minimum earned.

I'll PM you the info.

John Mocker · Answer

Michael,

We have several Markets for the Vacant Dweiling and I suspect that an agent out there can also get multiple companies to quote.   What you have to watch for is "What is the Minimum Earned Premium".   Ideally you want no minimum premium so you get the most refund.  That is rare.   The most common is 25% of an Annual policy (or equivilant in shorter terms).  I have seen some companies that have very good rates but the policy is Fully Earned (means no refund no matter when you cancel it).

Larry Fried · Answer

REI Guard does insure vacant houses, billed monthly.