Insurance for Wholesaling/Wholetailing

[John M.]

Hi everyone -

I'm wondering if there's an insurance professional (or seasoned real estate investor) in this forum who can provide some guidance on this topic: what is the type of business insurance required for wholesaling and wholetailing real estate?  

General liability is a must. But what about property coverage? Builder's risk?  Does a Business Owners Policy offer sufficient coverage? The prospect of getting a new property coverage bound for every contract signed is daunting and a builder's risk policy seems overkill on the small (new paint, garbage toss) type projects.

(I'm asking for all my New Jersey brethren)