Home Insurance

[Jorge Garcia]

Should I buy home insurance on a house that I buy cash for a short-term fix and flip?  I'm in Broward, Florida.

[Russell Naylor]

I'm not an agent or an underwriter, so take this with a grain of salt (I'm an adjuster, other side of the insurance business). But its all about risk.

If there is a lapse in insurance, that means any potential damage wasn't claimed, and therefore isn't on the records (there is a record of any and all insurance claims you have, no matter what company you have it with) and may have not even been completed.  Risk is higher that there may be unforeseen issues, therefore, higher insurance premium.