Home owners insurance on a flipped single family home

4 Replies

Hi BP community! I wanted to reach out and get some advice about what type of home owners insurance you get when flipping a single family home. Been doing some research and coming up blank. Called AllState and State Farm and they will not offer insurance unless the property is occupied. Seems like I have to find an independent brokerage for this type of insurance. Any input or advice would be greatly appreciated. 


@Danielle Palleschi-Browne You really need a builder's risk insurance policy, or at the vary least a vacancy policy. Independent brokers are the easiest way to get one of these. Look into commercial insurance agencies as opposed to home owner insurance agencies.

@Danielle Palleschi-Browne there are insurance programs specifically for flipping. 

There is a single policy that can cover you during the phases of the flip;  vacant/rehab/vacant and rented if you will be holding it, without buying a second or third policy.

I will PM you the info.

@Danielle Palleschi-Browne I'm closing on a vacant HUD property soon, and actually got a quote from AllState. One takeaway was they don't offer DP1, and offered me DP3 with a much higher quote.

Foremost insurance, builders risk or "Basic three" policy. Vacant is more expensive than occupied. Just got several quotes from that company.

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