If you are flipping or rehabbing houses insurance can be a pain, with all the purchasing and cancellation, but we have a unique offering that can simplify your life if you need insurance for a Fix and Flip. Imagine a world where you have one policy. As you purchase a house you add it to your policy, as you sell it you remove it from your policy, you get a new house add it to the policy. Have a couple of projects at once? You would still have one policy, one payment. Decide to keep one for a while to rent it out, not a problem, still one policy. Pick up a house on the weekend, under this policy you would have immediate coverage, you would just have to let us know you added it on Monday. Seriously simple. You simply have to let us know as you add or take a way, but your policy remains the same.
The policy is very affordable, and has several unique features.
- Your only guaranteed cost is $100 per year from there you pay based on the use of the insurance. Meaning, if you have the home for a single day, they pay for a day’s worth of insurance, if you have it for 90 days, you pay for 90 days of insurance, if you don’t have any investments, the policy exists, the policy is in force, but you don’t pay anything.
- Payment is made on a monthly basis, so if you can flip it under 30 days, you won’t even have to pay for the insurance until its sold.
- You are required to report what is, and was insured monthly.
- You have automatic coverage for purchased properties (everything needs to be reported within 60 days).
So don’t go buy a policy every time you get insurance for a fix and flip, keep your policy, and make your policy work for you.