After the Trustee Sale, what kind of fire insurance should I get?


#1

We are on our third “flip” from the Trustee Sale. However, I am unclear what kind of fire insurance should we get? I noticed a lot of insurance brokers will not cover a home (investment) if it’s vacant and/or if you do not a rental agreement if it’s currently occupied. Please help. Thank you.


#2

Hi Chris,
Sean O’Toole the Founder of ForeclosureRadar wrote a while back “I recommend talking to a commercial insurance agent about a blanket builders risk policy. With these you simply provide a list of properties each month.
Now, that said, you may not find these policies to be “reasonable”. They can be 2-4 times more expensive than homeowners policies.” You can read the complete forum on this topic by going to http://www.foreclosureradar.com/forum/buyers-and-investors/buying-auction/property-insurance-after-purchase.