Updated over 9 years ago on . Most recent reply
Insurance for a Flip?!
Hey guys..
About to go into escrow on a flip in Los Angeles. I will create an LLC.
Would really appreciate any recommendations on good insurance carriers anyone has worked with for flips and what kind of insurance I should get..
Liability?
Builders Risk? (Or is this on my contractor?)
What kind of Property Insurance?
- Vacant?
- Construction?
Any help/ suggestions MUCH appreciated! 🙏🙏
Most Popular Reply
Hey Vanessa,
I'm halfway through my 2nd flip in NJ. For insurance I went to a local insurance broker and got a vacant property insurance policy. Cost was $1,700 for 6 months and covers the house for damages (house is worth $290K) as well as $1MM of liability insurance and $100K of vandalism and malicious mischief insurance.
Hope this helps and good luck with the flip.
Kris