Types Of Insurance For A Flip

[Brandon G.]

I'm curious to know what all risks are involved in the process of buying, fixing and selling a house. The risks I can think of are theft, vandalism, damage during construction, injury to a worker. What other risks are involved? I have read that a builders risk policy is the way to go. Does this insurance cover all of the above mentioned risks?

My biggest concern is injury to one of my contractor's workers. Most residential contractors here in Dallas that I've had experience with do not carry workers compensation. Is this a risk to me or to the contractor?

Also, my wife and I will likely be occupying the homes of the first few flips. Would this effect what type of insurance is needed?