Builders insurance for Florida flippers?

[Eugene Kemp]

Good Morning BP!

I'm about to begin a project in Ormond Beach, FL, and the house will not pass muster for a normal homeowners policy at the moment.  I'm told by an insurance agent that I need a "Builders Risk" policy to cover me during the rehab phase.  Looking for any advice or comments on this recommendation, and if it is indeed what I need, who have you found to be the best source for this type of policy?

Thanks!

[Jared Townsend]

Builders risk coverage is generally used for new construction or very large reconstructions. If you are just doing minor repairs (cosmetic,  appliances, etc) then I would recommend a vacant home policy that allows for repairs. 

These typically run about $900-1200 for a 6 month policy. Deductibles are negotiable from $1000-5000. 

I hope that is helpful!