Get replacement cost hazard insurance along with an umbrella policy of at least $1M, probably double in your area.

My husband and I are licensed financial professionals and we love to educate on IULʻs or different types of policies that can assist in situations such as these! 

I'm excited to see so many of my peers in tech, prefab construction, government policy, architecture, et al come together to try to help those who need it!

Generally, the coverage of the policy will state; “The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured after acquisition of the Title by an Insured or after conveyance by an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title.”

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

As Nathan stated.... you have solid policies and protocols in place and you follow them.

They also have blanket insurance coverage which is much lower then policies in Philadelphia.

There was a report that State Farm cancelled 70K+ California policies eary in 2024 and 70% of their policies in Pacific Palisades.

If you're running a large portfolio then you would have policies and procedures.

Understand the local permitting requirements, keep eyes on your property to avoid squatters, and make sure you have a great vacant insurance policy while you're renovating.