Replacement Cost - Vacant Homes

insurance1822

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Is there any carrier who will write replacement cost on vacant homes? We have an insured who buys 5-6 vacant homes a month through hard money lenders and their attorneys "insist" on replacement cost coverage??
 
I would try the E & S markets. I dont know of any admitted carriers that would entertain that volume of vacant properties ( that more than likely are being turned over as quickly as possible).
 
[FONT=&quot]A Vacant home will always fall under the Dwelling Fire One (DP-1) category, which unfortunately does not offer Replacement Cost. The insured would only have the choice of insuring the property for 100% of the current market value (excluding the land) or Actual Cash Value.

Please also see the attached Dwelling Matrix comparison.
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Try vacant express and see what they say? I think Lexington could work as well, they seem to write an HO3 on all kinds of random things so maybe they can do a DP2 or DP3 on a vacant property.

If a guy buys 5-6 of them a month maybe a commercial policy would work instead since he obviously won't be living in all of them.
 
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