What Insurance to use for BRRRR

Question

What insurance works with people doing BRRRRs?

Griffin Malcolm · Answer

NREIG is great. You add your coverage yourself online and can see all your properties listed on one screen to manage them. Super quick communication too. Only company I'll be using

Rod Hanks · Answer

Just a builders risk policy if you are doing an extensive rehab on the property and then a landlord dwelling policy when the property is rented. If the property does not require an extensive rehab and just needs cosmetic repairs then a standard landlord dwelling policy in most cases depending on the carrier.

Sofia Komrskova · Answer

Find a good agent who can write a vacant/builder's risk policy, then during the refinance have them switch to a landlord/fire dwelling

Alex Bekeza · Answer

check out insuremybrrrr.com

Andrew Syrios · Answer

We go through Tilton, Thomas and Morgan, which is based here in Missouri. Not sure if they do Colorado. I know REIGuard is easy and designed for investors. But they are usually a bit expensive I believe.

I would also go to your local REIA and ask around there. That way you'd get local contacts and there's no reason for anyone to hoard their insurance agent so they should be forthcoming.

Jake Baker · Answer

@Jesse Yoder

I agree with @Sofia Komrskova about the policies. Make sure to communicate your BRRRR strategy with your insurance agent so they can recommend the right coverage for each phase.

I learned this lesson the hard way: https://www.biggerpockets.com/forums/853/topics/1222933-my-b...

What Insurance to use for BRRRR

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