insurance for a flip home

2 Replies


Just bought our first flip home....needless to say, it was a challenge to find home owners insurance. We are paying almost $1600.00/year for coverage for a 1600 sq ft 3BR/2BA slab ranch. Hopefully we will have it flipped and sold in 3-4 mos and will only pay about 30 - 40% of that amount. The insurance company insists on insuring it for a replacement value of $160K even though we paid $37K for the home and hope to sell it for $80K when complete (current after repairs retail market value)

Any suggestions on how to deal with this exorbitant expense? Any suggestions on who to call for cheaper rates in Fort Wayne IN?

Thx so much!


You need Builders Risk insurance.  Call around.


I am a FTW investor as well.  Always have done Rentals in the past, but similar to your house, I recently bought a house for 45K, and sold it for $72K.  As such, I found myself in need of insurance for a flip home.  Through another contact, I was given the name of someone who was able to quickly set me up for 3-month coverage (renewable every 3 months as needed) for roughly $250.  Expensive, but not as rough as yours.  If you're interested in the contact info, let me know.  Just send me a private message and we can go from there.

Also, I'm always up to network with others from Fort Wayne, so don't hesitate to to say Hi!  I'd be eager to hear what type of investing you do.


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