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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Insurance Posted by Ward-CA- on May 15, 2002 at 4:24 PM In Reply to: Insurance posted by Mark on May 14, 2002 at 4:13 PM : I will buy a property at the trustee sale (in Orange County) and am looking for the best cost effective insurance. I have checked with several brokers and it seems that the only insurance available would be about four times more expensive than regular homeowners insurance(around $1500 for 3 months for a 3 bdrm/2 ba, 1800 sq ft, 20 yr old, $250k in coverage house). I am going to flip the property and there may or may not be holdover owners still living in the property. The insurance companies seem to have a problem if the property will be vacant for more than 30 days. Therefore, I am being told that I would need to get this commercial dwelling/fire type of insurance which is much more expensive. Is there a good way around this or is this just the cost of this type of insurance? : Thanks, Mark =================== Mark, I just call my regular insurance agent at Farmer's and give them the liveable square footage and get a binder that metamorphizes into a standard home policy. When asked who lives there I give him the name of the previous owner who is still in residence. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I will buy a property at the trustee sale (in Orange County) and am looking for the best cost effective insurance. I have checked with several brokers and it seems that the only insurance available would be about four times more expensive than regular homeowners insurance(around $1500 for 3 months for a 3 bdrm/2 ba, 1800 sq ft, 20 yr old, $250k in coverage house). I am going to flip the property and there may or may not be holdover owners still living in the property. The insurance companies seem to have a problem if the property will be vacant for more than 30 days. Therefore, I am being told that I would need to get this commercial dwelling/fire type of insurance which is much more expensive. Is there a good way around this or is this just the cost of this type of insurance? : : Thanks, Mark : =================== : Mark, I just call my regular insurance agent at Farmer's and give them the liveable square footage and get a binder that metamorphizes into a standard home policy. : When asked who lives there I give him the name of the previous owner who is still in residence. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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