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#218445 - 04/09/08 09:34 PM Owner Financing insurance
llghoney Offline
Junior Member

Registered: 04/09/08
Posts: 2
Loc: FL.
If you owner finance can you still get full insurance? Or is renters insurance the only option?

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#218533 - 04/10/08 09:01 AM Re: Owner Financing insurance [Re: llghoney]
neudot Offline
Major Contributor

Registered: 11/02/07
Posts: 1726
Loc: Central New York
Once you have entered the owner finance situation, you can reduce your insurance coverage to fire, theft and liability. The tenants should pay for renters insurance on their contents.

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#218938 - 04/11/08 02:54 PM Re: Owner Financing insurance [Re: neudot]
llghoney Offline
Junior Member

Registered: 04/09/08
Posts: 2
Loc: FL.
Even though we don't rent? So the owner financer is outta luck as far as getting home owners insurance correct? Would you happen to know if you owner finance with a contract for deed if our name should be on the deed as well?.

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#223948 - 05/01/08 08:58 AM Re: Owner Financing insurance [Re: llghoney]
jstip Offline
Member

Registered: 08/23/06
Posts: 212
Loc: Central PA
You will qualify for a HO-3 policy listing the financing owner as First Mortgagee.

Simple.

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#225408 - 05/08/08 08:12 PM Re: Owner Financing insurance [Re: jstip]
DennisVolz Offline
Member

Registered: 05/07/08
Posts: 20
Loc: San Diego, CA
Type of financing is rarely an issue re insurance.
_________________________
Dennis Volz
SF Insurance Agent since 1978
Email: Dennis@DennisVolzInsurance.com
Website: Dennis Volz Insurance
Blog: The San Diego Insurance Blog

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