Why even get insurance on a rehab?
If I don't have a lender requiring it, most stuff like theft and vandalism would never even match the deductible.
I just went through the largest hurricane I've experienced in 30 years and had no damage to my flip or personal residence. Okay, I had a few fence panels down but that is cheaper to fix than the deductible.
Especially when not in hurricane season, what could happen? Have you ever made a claim?
What could happen? Lightning strike? Arson? Electrical fire?
I bought this flip project a few days before I heard about Hurricane Irma. They wouldn't write the policy until the storm passed, and it's still not insured. I'm deciding on what coverage, if any, to get. It's already been 1.5 months with no insurance. I have an alarm system for theft, anyway.
I know this probably sounds stupid to everyone, but I even know neurosurgeons who don't carry insurance.