Special Form - Vacant Homes?!?!?!?!?!?! WHAT?!

insurance1822

Guru
1000 Post Club
1,581
So I have a lender insisting that my insured carry special form coverage for their vacant homes undergoing renovations? He even went so far as to say "that includes water damage" and "why is your broker being difficult...I have 10 that do this all the time"

Has anybody seen this before" I know Vacant Express will issue special form if it's PC1-7, central station alarm, previously insured, no new purchases, 30 years new & entirely gutted & rehabbed (and i think they still endorse out water damage and theft..)
 
So I have a lender insisting that my insured carry special form coverage for their vacant homes undergoing renovations? He even went so far as to say "that includes water damage" and "why is your broker being difficult...I have 10 that do this all the time"

Has anybody seen this before" I know Vacant Express will issue special form if it's PC1-7, central station alarm, previously insured, no new purchases, 30 years new & entirely gutted & rehabbed (and i think they still endorse out water damage and theft..)

You could find someone offering a DP 00 03, and if the renovations are not projected to last more than a few months (and if they are to be a primary residence), you can likely get an HO 00 03 policy placed on it. So long as reasonable care is taken to ensure there are no breaks (this does not have as much bearing in the summer as it does in the winter) your client should be allright.
 
Back
Top