Insurance policy to cover only one home, if there are two homes on the lot, and both need work not able to be fixed until after settlement?
I recently purchased a property with two homes on it. There is an old farm house, and a newer rancher on the property. the rancher was built as a mother inlaw suite. The tax record for the property is for the farm house. The rancher has an "address" however there is no tax record I could find for it, so I assume it is just a mailing address? (since it is only one lot with one true address) Both houses need work. I am looking for insurance to cover the rancher alone, as it would be the primary residence, not the farm house. I do not want to pay insurance on the farm house until it is fixed up. Is there any special kind of insurance I should look for, as most dont seem to want to cover just one home, if there are two on the lot? I am getting kind of tossed around because everytime the insurance people go out to take pictures, they get confused when they see two addresses and two homes, even though there is only one address. Any help or direction is greatly appreciated! Thanks
BEST ANSWER
FIRST ANSWER
We write in Maryland and we have a vacant home policy that covers renovations and secondary homes on a single lot. Your are right, the tax assessment is a great way to discover whether the houses are titled seperately or together. We can write it with renovation coverage. Go to http://getgliga.com/ads/quote_investment_property.htm and complete the request for quote and I will work on it for you.
The Home Insurance Specialists
http://www.getgliga.com
Thu Oct 1 2009, 13:29
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