Flipping insurance in Florida in 2023?

[Brian Reynolds]

I've followed up on several leads here in the forum, but none currently cover in FL.  What recommendations for flip insurance do you all have?  Right now I'm looking at foreclosures, so there may be the added issue of evicting the residents.  And of course on purchase, the roofs may be older, which is typically a "no go" for traditional insurance.

[Greg Appelt]

For my first flip I used NREIG.  2br/2bt 886sqf condo : $1280 annual.  For my second one I'm using SSW Insurance out of Land O' Lakes.  Same unit type/size in the same community: waiting for quote. 

[Eliott Elias]

I get a builders risk policy for my flips.

[Greg Appelt]

Quote from @Greg Appelt:

For my first flip I used NREIG.  2br/2bt 886sqf condo : $1280 annual.  For my second one I'm using SSW Insurance out of Land O' Lakes.  Same unit type/size in the same community: waiting for quote. 

I got the quote back from the 'new' provider.   It was about 60% more and the cancellation refund terms are not good.  Basically there is a base fee + monthly and you only get back 50% of the unused portion.  

[Sheri Fluellen]

I have a STR in Florida and twice now my insurance companies are cancelling because they're pulling out of the market. FL is hard to insure!!! I hope you can find something reasonably priced.

[Brian Reynolds]

to follow up, I did end up getting reasonable quotes from NREIG.  $180k coverage was around $185 per month... month to month coverage.