All Forum Posts by: Timothy Karlowicz

^ only MA insurance

@Brett Staples

The main reason why you want your tenants to get renters insurance is so they have liability coverage. If someone slips and falls and tries to sue, then the renters insurance liability coverage will cover that lawsuit rather than your liability on your policy. Your rates will go up drastically in the event of a liability claim. Not too mention you’ll also have the piece of mind in knowing your renters won’t have to pay out of pocket for their personal belongings in the event of a natural disaster.

@Carl Costa

As long as the home you are flipping is not under construction, then the type of policy you are looking for is a Dwelling Fire One policy (DP1).

Foremost insurance tends to be very competitive for vacant and unoccupied homes. One agency that sells Foremost in Archetype Insurance Group in Millbury, MA. I put their website below. Their phone number is on their website.

Archetypegroups.com

@Deanna Boucher

You actually need a Dwelling Fire 3 since it is occupied by renters.

@Carl Costa

In Massachusetts, one company that is very competitive for vacant or unoccupied homes is Foremost Insurance. Archetype Insurance in Millbury, MA writes for them. They’ll help over the phone and explain everything. Definitely have the best rates for home flippers.

Archetypegroups.com

@Joe Rinella

Hey Joe,

As long as the home you are flipping is not under construction, then the type of policy you are looking for is a Dwelling Fire One policy (DP1). Which is a personal policy sold at a few agencies in MA.

If it is currently under construction then you would want a commercial policy called Builders Risk Policy.

In Massachusetts, one company that is very competitive for vacant or unoccupied homes is Foremost Insurance.

Archetype Insurance in Millbury, MA writes for them.

Archetypegroups.com

Thanks,

Tim Karlowicz