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Insuring Alternative Homes
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Gary Reed is a graduate of Western Illinois University and currently is a mortgage broker with Mountain Classic Mortgages in Pagosa Springs, Colorado. He has more then 7 years of loan origination experience and also is a licensed real estate agent and has owned a property investment corporation while living in Arizona. He brings a broad and varied background to the often difficult and frustrating market of alternative home finance. Mountain Classic Mortgages has been financing "alternative and earth friendly " homes for over 5 years and it makes up approximately 95% of our business. We have assembled a team of professionals who understand the pitfalls of funding these unique properties. We are able to fund loans in all 50 states whether it be new construction, purchases, or refinancing. We have financed all types of alternative homes including domes, strawbale, earthshelter, insulated concrete forms, adobe, earthships and solar. Mountain Classic Mortgages has a success rate of funding over 98% of our alternative homes. Gary can be reached at 970-731-0640 or by email at mcmATskywerx.com .

Q: Do you know of any insurance companies that will issue home insurance on an underground home? I have an underground home in Southwestern PA (owner/builder from the early '80's) and am in need of homeowners insurance.

Q: I am having a great deal of trouble insuring my strawbale home. Do you have any suggestions for companies who are willing to do this affordably?

A: You might try the following insurance companies. Some of our clients have had success with them insuring many types of "earth friendly" homes including strawbale.

Alton Weathers, Farm and City Insurance, 405-542-3163
Shank Insurance Agency, 972-938-2801
Susan Padgett, Netinsurance, 1-800-933-4011 ext. 28903
Rod Beavan, Sentry Insurance, 469-261-8064

Q: Can you get insurance for an earthship? If so can you recommend an insurance company and tell me a little bit about what coverage you are able to get.

A: I wish I could be more helpful but I'm a mortgage broker not an insurance broker.  Insurance for Earth Friendly homes of all types is becoming increasingly more difficult to obtain as a result of our current financial crisis.  The largest concentration of earthships of which I am aware is located near Taos, NM.  You might contact a realtor in that area who has handled some earthship transactions and who would be aware of insurance sources. I do have a client in WA who is obtaining insurance on an earth sheltered home and I recently completed a loan for an earth sheltered home here in Pagosa Springs.  They obtained insurance through a local agent but the company was Zurich, Inland Marine Declarations, Assurance Company of America, Administrative Office: 1400 American Lane, Schamburg, IL 60196.  That is all the contact info I have available.  You might contact them directly or through a local insurance agency broker.

Q: I am looking to purchase an existing berm home (concrete pods buried w southern exposure, passive solar hot water!! great home). One of the issues is getting homeowners insurance --- I can't imagine anything less flammable but insurers dont' get it. Any suggestion on providers?

A: (Kelly) I just posted an article about finding such insurance.

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I specifically disclaim any warranty, either expressed or implied, concerning the information on these pages. Neither I nor any of the advisor/consultants associated with this site will have liability for loss, damage, or injury, resulting from the use of any information found on this, or any other page at this site. Kelly Hart, Hartworks, Inc.

 

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