Builders risk for fix-and-flip and rehab
Builders risk covers a property while it is being renovated - the stage where an ordinary homeowners or landlord policy will not. It is written to the as-completed value, so the coverage grows with the work.
Quote builders riskWhat it covers
- The existing structure plus the renovation work and materials on site
- Coverage while the property is vacant and under construction
- Theft of installed materials, where the carrier includes it
- General liability for the job site, when you ask for it
Who it's for
Fix-and-flip investors, BRRRR investors and rehab borrowers financed by private and hard-money lenders.
What your lender will ask for
Coverage for the as-completed value or the loan amount, the lender's mortgagee clause, the loan number, and a term long enough for the project - usually 6 or 12 months.
Questions we hear
When do I need builders risk instead of a vacant policy?
When work is being done. A vacant-dwelling policy covers an empty house; builders risk covers the house while it is being renovated.
How fast can I get an evidence of insurance for closing?
Usually the same day. Send the purchase contract or loan details and we quote with several carriers at once.
Does builders risk include liability?
Not always. We add general liability when you or your lender ask for it.
Where we write it
VersiFi quotes nationwide through carriers licensed in each state. State guides:
Get a quote today.
Send the address and your lender's details - we quote with several carriers at once and send the evidence of insurance to your lender. Or call 512-801-8702.