Trouble getting Contractors insurance and bond when doing flips
Hi guys! We are getting the ducks all lined up to start our first flip. We're in Oregon, and we will need a General Contractors license to do the flips. I'm doing the state exam tomorrow for that. We will need insurance and bond for the CCB (contractors license). My husband used to be a general, and back then we had no trouble getting his insurance and bond. Today, when I called the same agent he used to use, they couldn't get us anything, because their companies don't want to insure flippers, they said.
Anyone else running into this? I called another agent in the next town over, and will not be mentioning flipping right off the bat, but I'm really caught by surprise. I would imagine there would be a ton less risk, insurance wise, on a contractor-owned flip than a contractor working for a homeowner who could very well be sue-happy.
Would love to hear your experiences with this. THANKS!
Tracey in Oregon