Market for Client Rehabbing/ Flipping Homes in NY

[Italianik]

Hey All-
So where would you put this how would you write this to best cover the exposures?

Client has been getting a standard H03 policy for these homes, but it is really not the most appropriate place for it and (I'm thinking) he could have major issues if a claim happens. Since the homes are being gutted and are unoccupied.

Thoughts?

 

[nyc2phi]

Hey All- So where would you put this how would you write this to best cover the exposures? Client has been getting a standard H03 policy for these homes, but it is really not the most appropriate place for it and (I'm thinking) he could have major issues if a claim happens. Since the homes are being gutted and are unoccupied. Thoughts?

This need to be builders risk policies.

Companies like USLI, Lloyds, and and Zurich have good programs for this.

Usually are based on the term of the project like 3, 6, or 12 months.

Once the project is complete you can insure the home!

If done under his personal name, erie can also cover under misc. property.

Hope this helps!