Flipping Insurance in Knoxville, TN

[Gerald Valentin]

Hello everyone! I'm about to close on my first flip but due to the quick turn around, the work that needs to be done to the property, the property's ARV, and the fact that no one will occupy the premises, I've had a hard time finding an insurer to purchase a three or six month home insurance policy from. The two quotes I've been able to solicit so far are coming in at $1700+ for six months on a "Builder's Renovation" policy and $1100+ for 3 months on a "Vacant Dwelling" Property. Do these figures seem correct? Am I barking up the wrong policy "tree" altogether?

More about the property: Buying at $80k, conservative ARV is $300k, will need $110k in repairs. Great neighborhood, great school.

Thanks!

Jerry