Fix & Flip Insurance for Rental Properties
Purpose‑built coverage for fix‑and‑flip and fix‑and‑hold (BRRRR) projects. Protect the structure, materials, and your liability during renovation, then transition smoothly to a Landlord policy once leased.
How it works
Renovation projects typically start with a Builders Risk / Renovation or Vacant Property policy to cover the structure and materials while work is underway. We can pair that with Premises Liability (and, where needed, General Liability for contractor operations) and optional Tools & Equipment. When the home is ready for tenants, we help you shift to a Landlord policy that includes property and liability for occupied rentals.
- Short terms (3/6/12 months) with extensions for longer rehabs.
- Single‑project or Blanket/portfolio programs for multiple properties.
- Hard‑money lender requirements met (Additional Insured / Mortgagee / Loss Payee).
Coverages & Limits
Builders Risk / Renovation
| What it covers | Structure, materials on‑site/in transit, fixtures during renovation |
|---|---|
| Valuation | Renovation budget + existing structure (as applicable) |
| Perils | Special form; theft/vandalism subject to security requirements |
| Soft costs | Available where offered (permits, interest, rental value delay) |
| Term | 3, 6, or 12 months; extendable if project runs longer |
For light cosmetic jobs, a Vacant Property form may be more cost‑effective—ask which fits your scope.
Premises & General Liability
- Premises Liability for owners while property is vacant or under renovation.
- General Liability for your contracting operations (if you self‑perform work).
- Hired & Non‑Owned Auto available for supply runs using personal/rented vehicles.
Tools, Equipment & Installation
- Inland Marine for tools, generators, and small equipment.
- Installation Floater for materials to be installed (e.g., cabinets, HVAC).
- Equipment Breakdown optional, where available.
Transition to Landlord (when leased)
- Dwelling/Building at replacement cost (where eligible).
- Loss of Rents option for covered losses.
- Landlord Liability and Umbrella options.
Lender & Certificate Requirements
- Add Mortgagee / Loss Payee and Additional Insured per loan docs.
- Provide project address, purchase price, and rehab budget for proper limits.
- Share security details (locks, alarm, lighting) to meet theft/vandalism conditions.
- We can issue same‑day COIs once bound and funded.
Key Exclusions & Notes
- Wear & tear, faulty workmanship (resultant damage may vary by form)
- Employee/inside theft unless specifically endorsed
- Ordinance or Law (A/B/C) often limited—ask about options
- Flood & Earthquake typically excluded (separate policies available)
- Vacancy and protective safeguard conditions must be followed
Always refer to your policy forms and endorsements for exact terms and conditions.
Pre‑Quote Underwriting Checklist
- Subject property address, year built, construction type, square footage
- Purchase price, renovation budget, and ARV (after‑repair value)
- Scope of work (cosmetic / systems / structural), GC or self‑perform
- Start date and expected completion timeline
- Security: locks, lighting, alarm, fencing; winterization if applicable
- Lender name and required certificates/endorsements
- Loss runs or prior claims (if applicable)
Frequently Asked Questions
Do I need Builders Risk or just a Vacant Property policy?
It depends on project scope. Structural work, major systems, or large material deliveries often call for Builders Risk. Light cosmetic rehabs may fit a Vacant Property form. We’ll match the policy to your scope and lender terms.
Can my hard‑money lender be listed as Additional Insured and Loss Payee?
Yes—lenders are typically added as Mortgagee/Loss Payee; AI status may be available per carrier and form. Send us the exact loan requirements.
What happens when the home is leased?
We transition your renovation policy to a Landlord package (property + liability). If you refinance, we’ll update the mortgagee and certificates.
Are theft and vandalism covered?
Often yes, subject to policy conditions such as active locks/alarms, lighting, and evidence of forcible entry. We’ll go over security requirements before binding.
This page summarizes common options. Final terms depend on policy forms and underwriting.
Request a Quote
Share a few project details and we’ll follow up quickly with options.