Is an older, cheaper car a bad idea for a new driver?

Not necessarily. For short, low speed local driving, a dependable older vehicle can be fine. The concern is that older vehicles usually lack automatic emergency braking and lane assist, the two features most proven to prevent serious crashes. If your teen will drive on highways or longer distances, lean toward a newer vehicle.

Which single safety feature matters most for a new driver?

If we had to pick one, lane assist, because run off the road and head on crashes are among the most catastrophic for new drivers and the research shows real reductions. Automatic emergency braking is a very close second.

Should I get all wheel drive for my teen driver?

In Wisconsin and similar winter climates, weight it heavily. It helps a new driver maintain control in snow and on wet roads. In warm, dry climates it matters far less.

Does a safer vehicle lower my insurance cost?

It can help. Certain safety features may qualify for discounts, and a vehicle that helps your teen avoid claims protects your rate over time. MM Insurance can walk through how a specific vehicle affects your policy before you buy.

What are the best vehicles for a 16 year old driver?

Strong choices that match the IIHS and Consumer Reports teen recommendations include the Subaru Outback or Forester, Honda CR-V, Toyota Camry, Hyundai Tucson, and Mazda 3. Prioritize standard automatic emergency braking and lane assist, phone integration, available all wheel drive for winter climates, and a newer model for reliability.

House Flipping Insurance in Wisconsin: What Coverage You Actually Need

Scott Johanek
4 days ago
3 min read

A property you are flipping does not fit a standard homeowners or landlord policy. It is vacant or under construction, changing in value week to week, and exposed to risks a normal occupied home is not. Wisconsin house flippers need a specific mix of coverage built around the renovation timeline, not a policy built for someone living in the home.

We are an independent agency in New Berlin working with Wisconsin real estate investors since 1997, and we can set up coverage for a single flip or a program that covers several projects running at once.

What Insurance Do House Flippers Need?

Most flips need three things: builder's risk insurance while the renovation is underway, general liability in case someone is hurt on the property, and vacant property coverage for any period before renovation actually starts. If you hire helpers directly rather than through a licensed contractor, you may also need workers compensation, and if you use vehicles for the business, commercial auto.

Builder's Risk Insurance

Builder's risk covers the property during renovation against fire, wind, theft, vandalism, and other covered perils, protecting both the existing structure and the materials and improvements you are adding. Policies are typically written for three, six, or twelve month terms matching your expected renovation timeline, and most can be extended if the project runs long, which it usually does.

Cost generally runs one to four percent of the total construction budget. On a two hundred thousand dollar renovation, expect somewhere around two thousand to eight thousand dollars for the policy period.

Why Homeowners Insurance Will Not Work

Standard homeowners insurance does not cover vacant properties or properties under active renovation. If a claim happens and the carrier finds out the home was empty or mid renovation, coverage is likely to be denied. You need builder's risk and vacant property coverage built for exactly that situation, not a policy that assumes someone is living there.

Liability While the Property Is Being Worked On

If a visitor, contractor, or trespasser is hurt on the property, you as the owner can face a liability claim. Your general contractor's insurance covers their own liability, not yours, so you still need your own general liability coverage, and you should require your GC to name you as an additional insured on their policy as a second layer of protection.

Frequently Asked Questions

What insurance do house flippers need in Wisconsin?

Builder's risk insurance during renovation, general liability, vacant property coverage before renovation starts, and commercial auto if you use vehicles for the business. You may also need workers compensation if you hire helpers directly.

How long does builder's risk insurance last?

Builder's risk policies are typically written for three, six, or twelve month terms matching your expected renovation timeline, and most can be extended if the project runs longer than planned.

What happens if someone gets hurt on my flip property?

You could face a liability claim from a visitor, contractor, or trespasser. General liability insurance covers the legal defense and any settlement or judgment up to your policy limits.

Does my general contractor's insurance cover me?

No. Your general contractor's insurance covers their own liability, not yours. As the property owner you need your own general liability and property coverage, and you should require your GC to name you as an additional insured on their policy.

Can I use homeowners insurance for a property I am flipping?

No. Standard homeowners insurance does not cover vacant properties or properties under renovation. You need specialized builder's risk and vacant property coverage for flip projects.

Can I get insurance for multiple flips at once?

Yes. We can set up a builder's risk program that covers multiple simultaneous flip projects, which is usually more efficient and cost effective than buying a separate policy for each one.

Get a House Flipping Insurance Proposal

Fill out the house flipping insurance proposal form or call or text our New Berlin office at (262) 754-4736. Tell us the property address, purchase price, and renovation budget, and we will get builder's risk coverage in place before your crew starts work.