Builders Risk Insurance

[Michael Faulk]

Happy thanksgiving to everyone!

Does anyone have any "best bets" regarding Builders Risk Insurance? I purchased a cash property on Tuesday 11/26/2013 and will be rehabbing it over the next 90 days. The purchase price was $39,000 and my rehab budget is approximately $25,000 with an ARV of $106,000. When this property is completed I will take a loan out on it and keep it as another rental in my portfolio.

Questions:

-Any suggestions on carriers to use for these type of insurance policies? (I have a call into my insurance carrier I use on my other properties but, I just wanted to throw out some questions on BP)

-How much insurance coverage do I typically need?

-Are there any articles on BP that dive into this subject?

Any and all comments/suggestions would be greatly appreciated.

Once again Happy Thanksgiving to the BP community!

Michael