Insurance for flips

[Alexi Polenur]

Hi all,

I am relatively new to flips and wondering how others insure their flip properties during rehab process.

Currently I am using "high risk" policies from Loyds of Londons.

For the property apprised at $150 K they quote me about $1100 for a year.

So for 6 month which I hold the property I pay $550 is it normal ?

Other people I know use some cheaper options from Erie, which end up around $500 a year.

However my agent says that Erie does cover empty properties so if something happens they will not pay.

Please let me know if somebody knows cheaper way to insure flip properties.

Thanks, Alexi 

[Account Closed]

Try APIA Protection. They are an investor friendly insurance company. They make it was to add and and remove new properties.