Insurance on Vacant Condo

[shepnerd]

I've got a friend that has a vacant condo here in Atlanta and is getting cancelled on her homeowners policy.

I dont have a P&C license, but did my fair share of insuring vacant properties when I was flipping houses for a living. I ususally used a 6 mos. builders policy through Zurich (I think) or had my State Farm do a landlord policy depending on the situation.

Anyway, anybody know her best course of action here?

 

[Guest]

call an IA agent.....

 

[Guest]

Is the policy being cancelled solely because the of the vacant status? Zurich builders risk policy works if they are doing renovations to flip home or looking to move into after the renovation. If the property is vacant with no renovations taking place, you might want to look at Vacant Express for a vacant only policy. The SF landlord policy would not be the way to go either.

 

[joshb]

Tapco offers vacant through Lloyds.

 

[Soaringagent]

Anyone else write with Vacant Express?

 

[Guest]

i use vacant express, no problems, BUT if its a Condo, you need to know what the CC&R's say about the insurance,

 

[Sales71]

Condos are no big deal being vacant. Since they are mostly in big complex. But homes that are vacant is another story.

 

[Guest]

actually, it depends on how the CC&R's of the master policy are written, he might not even need insurance if the master policy is all-inclusive.

he might be out personal property and could get hit with a big deductible if something happens.

 

[Sales71]

Funny now the lender are requiring H 06 on new purchase where before they did not care.