Builders Risk for House Flippers
Many new house flippers are under the notion that a homeowner’s insurance policy will supply total coverage needed for the remodeling they plan to do. Planned renovations may be minor (replacing flooring and cabinets) or major (moving a load-bearing wall or adding another story). Either way, house flipping holds the same risks (and potentially catastrophic losses) as any other remodeling project. As soon as sledgehammers start breaking through walls or old flooring comes up, several hazards could be waiting. With aging homes in Fairfield County and Westchester County, you’ll never know what is behind the old plaster walls.
Timetables and Extent of Work
As a house flipper, you need to work efficiently, but not every timetable will be identical. Typically, flippers who plan to do minor renovations are looking to move particularly quickly. Depending on how small the changes are (and whether the changes represent 15 percent or less of the existing structure value), these flippers may be interested in a vacant home policy with a construction endorsement. However, if house-flippers are planning to make more large-scale, expensive changes, their timetable may be lengthened due to mandatory inspections and permits. To guarantee it stays insured during that period, a Builders Risk policy is important to impose. Mills & Mills represents many services that can help you. Liberty Mutual, Acadia, Selective Insurance, and Zurich are all great options. These policies are available with policy terms as low as six months and short-term extensions are to provide added flexibility.
Similar to other remodeling clients, house flippers strive
Get the coverage you need
Mills & Mills Insurance is based in beautiful Wilton, CT, 06897 45 minutes from New York City and 2 hours from Boston. We serve Fairfield County, Westchester County, Long Island and all of Rhode Island.
Mills & Mills Insurance will provide you with the right coverage to make sure your investments are safe during a disaster. When partnering with us, we will give you all the necessary information and options you need to make the best choice of insurance company and policy. Give us a call today at (203)- 762-8373.
35 Old Ridgefield Rd, Wilton CT 06897