got plenty of liability coverage.

@Chris Virgil-Stone we have done 3 (2 closed in past 4 months and 1 in process and will close in Feb) and all 3 have been between 900k and 2.4 million loan amounts, all with Opus bank out of Socal (through a local broker) all had 4.75% initial 5 year terms with a second 5 year term with rate reset and lifetime rate cap of 5.25% (both have 30 year terms, so when rate resets, amortization resets to a new 30 year as well...this is good as payment drops.)75% LTV, 1.2 debt coverage ratio. 

The agent says that liability coverage for each individual policy will drop to zero, and all liability is on the umbrella.

There are at minimum 20 homes being constructed in the neighborhood of my build (1/3 spec I would estimate) and all of the land was purchased for 200-300k with coverage limits less than 3,000 square feet and exit prices of 700k to 1M.

Then there's debt, medical coverage, etc.

Anyway, this is not to suggest that you should get this membership, but it helps a lot of people including me; it does not do 100% of everything you as an investor would like at 100% coverage, but you would still pay a reduced rate compared to a none member.

Not only are investors not licensed to close, they aren't insured closing agents providing title coverage on the filings!

Replacement Cost (RC) coverage allows you to recoup the depreciation that is initially levied against the claim settlement.

It's always a good coverage to have and if you are not in a Special Flood Hazard Area, otherwise known as a High-Risk Flood Zone, the insurance is fairly affordable.

I usually just max out my liability coverage on my properties and get and umbrella policy for protection.