House flipping is not a new form of real estate investing. It has long been used as a strategy to diversify a real estate portfolio. And while mainstream media has portrayed flipping houses as a quick and easy way to turn a profit, the process of scouting, buying, rehabbing, and selling can be long and filled with risks.
Investors who purchase fix and flip properties may not know that a traditional homeowners insurance policy will not fully cover their property because of this increased risk. For those looking to flip a house, there are several options for coverage: a dwelling insurance policy, builder’s risk policy, and a general liability umbrella policy. To find out more about these policies, check out our article: https://www.steadily.com/blog/what-is-house-flipping-insurance-and-why-do-you-need-it/.
Whichever option you pursue, Steadily can help. Get a commitment-free quote today or contact us to speak with an agent. We’ll help you find the best option for your fix and flip property.