Flip house insurance?

[Preston Quinn]

I’m in Virginia. I have a house under contract in my s corps name. I am using conventional financing on the property. I am having a hard time finding and insurance company to insure the house during the flip. Any suggestions??

[John Mocker]

Preston,

Sounds like they are asking for the wrong policy.  Normally on a flip I use a Renovation Builders Risk policy for the property and a separate Liability policy.  There are a couple of markets that will cover that under a Vacant Dwelling with renovation but I don't think they will do it with Replacement Cost (RC) on the existing structure.   

Most Renovation Builders Risk policies insure the existing structure at Actual Cash Value (ACV) and the Additions at Replacement Cost (RC). I think I had one or two markets say they might do RC for the structure if needed. I will check and if any are positive I will find out if they write in VA.