Vacant Property for Home in KS

Peak9

New Member
1
I have a personal lines client that is purchasing another home next month. He plans to leave the property vacant for the next 6 months or so before scraping the home (including foundation) and building a new home on the lot.

I am running into a few issues:

1. Vacant property - obvious
2. Timing of the project - since my client doesn't plan to scrape the home and start building a new home for at least 6 months, starting a builders risk policy doesn't make sense.
3. Since the structure is eventually going to be torn down, I have been declined.

If anyone has any thoughts on carriers I should approach, it will be greatly appreciated.
 
I have a personal lines client that is purchasing another home next month. He plans to leave the property vacant for the next 6 months or so before scraping the home (including foundation) and building a new home on the lot.

I am running into a few issues:

1. Vacant property - obvious
2. Timing of the project - since my client doesn't plan to scrape the home and start building a new home for at least 6 months, starting a builders risk policy doesn't make sense.
3. Since the structure is eventually going to be torn down, I have been declined.

If anyone has any thoughts on carriers I should approach, it will be greatly appreciated.

Why would he need property coverage if his intent is to demolish the building?
 
What I have seen so far is investors or house flippers who gut a home and take 6-12+ months to fix it up but carry no insurance. When they eventually get ready to find some insurance, they are paying a steep price for not having any. It's treated like a lapse in coverage and the cost seems to rise quite a bit.

I had a property that was giving me a headache, spoke to an underwriter that encouraged me to increase the premium thru all the endorsements. I did manage to lower the deductible and for whatever reason that did the trick with their underwriting which really seems to be computer software but it worked.
 
I have a personal lines client that is purchasing another home next month. He plans to leave the property vacant for the next 6 months or so before scraping the home (including foundation) and building a new home on the lot.

I am running into a few issues:

1. Vacant property - obvious
2. Timing of the project - since my client doesn't plan to scrape the home and start building a new home for at least 6 months, starting a builders risk policy doesn't make sense.
3. Since the structure is eventually going to be torn down, I have been declined.

If anyone has any thoughts on carriers I should approach, it will be greatly appreciated.




Refere it to the place below, it's not worth your time.

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