Property Insurance for Fix and Flip

5 Replies

am looking for recommendations for insuring my first project. Plan to be a flip, 2-3 weeks to rehab. Contractors are all licensed and insured. Business is an LLC in PA. I was checking out National Real Estate Insurance Group.

Property is in rural NEPA, and surprisingly, my current insurer, who I thought I was "In Good Hands" with, who I've been with for auto and homeowners for almost 20 years, absolutely 100% refused any type of coverage and actually wished me luck in finding insurance. no referrals, no pitch or recommendations. It was a very bizarre conversation.

I'm going to a networking event tomorrow night and I'm going to ask around, but in the meantime, any recommendations or referrals would be appreciated. Thank you.

Call Kelly at Maseychik's Insurance. They are located just outside of Wilkes-Barre. They insure vacant homes during renovations for me all the time. 570.829.6648. Tell her I referred you and good luck.

@William Carson

 most personal lines companies, Allstate, State Farm, etc., will not have the right product for flipping homes.  They will typically have 3 separate/different types of policies to cover this process.

Vacant policy, Covers the property prior or after the renovation phase, and proior to anyone living in the home.

Builders Risk, which covers the property during the renovation phase, but becomes void upon completion or occupancy permit.

Rental/dwelling policy, covers you when it is  being rented out.

There is a product in the marketplace that can cover all 3 of these stages with 1 policy.  No need to keep starting and stoping policies with potential gaps in coverage.  PM if if you would like additional info.

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