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Updated almost 3 years ago on . Most recent reply
![Corbett Brasington's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2278259/1634756628-avatar-corbettb.jpg?twic=v1/output=image/crop=342x342@0x31/cover=128x128&v=2)
Flipping: Insurances needed and recommended?
So when you buy a home you have to have homeowners insurance normally. If its in a flood zone you also have to have flood insurance.
When flipping or in any business you want general liability, but are there any other insurances or specific types of insurance that is recommended when flipping homes?
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![John Mocker's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/490033/1723821233-avatar-johnm248.jpg?twic=v1/output=image/crop=1649x1649@72x0/cover=128x128&v=2)
Corbett,
With Flipping properties you generally need a Renovation Builders Risk policy to cover the existing building and the improvements/additions being done. It can include the liability or that can be a second policy. Occasionally, companies will use a different policy, a Vacant Dwelling policy endorsed to include the renovation.
You may also need coverage for Workers Compensation depending on your state laws/regulations, who hires the workers, and if your GC and subs have coverage.
Other coverage you may need include:
- flood insurance
- Contractors Equipment coverage (if you own or rent the equipt)
- Business Auto coverage
And others depending on the details of the project