Insurance for House Flippers: What Coverage Do You Actually Need?

Frequently Asked Questions

What insurance do I need before starting a house flip in Wisconsin?

Before starting a flip, you need builder's risk insurance to cover the renovation, general liability to cover injuries on your job site, and vacant property coverage if the property will sit empty before work begins.

How long does builder's risk insurance last?

Builder's risk policies are typically written for 3-month, 6-month, or 12-month terms matching your expected renovation timeline. Most policies can be extended if the project runs longer than planned.

What happens if someone gets hurt on my flip property?

If a visitor, contractor, or trespasser is injured on your flip property, you could face a liability claim. 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?

Your general contractor's insurance covers their liability, not yours. As the property owner, you need your own general liability and property coverage. You should also require your GC to name you as an additional insured on their policy.

Can I get insurance for multiple flips at once?

Yes. MM Insurance can set up a builder's risk program that covers multiple simultaneous flip projects, which is typically more efficient and cost-effective than purchasing separate policies for each project.