Liability Coverage for Flippers
If you do some or all of the renovation work on a flip property, you have liability risk that is not covered by your standard premises liability policy. National Real Estate Insurance Group offers FlipShield to help protect you in case of third-party property damage or bodily injury claims that may arise as a result of the renovation process.
FlipShield is purchased as a stand-alone liability-only policy for your completed operations as a flipper. Submit your project information using our online proposal request to receive a custom proposal. A Client Service Advisor will contact you to review coverage details and answer any questions you may have.
*FlipShield is not available to professional contractors or artisan/subcontractors.
Property owners can purchase this coverage in just a few minutes!
Coverage Features
Protection against property damage
- If damage is caused to neighboring properties or property belonging to others on your premises during the course of the project, the cost to repair or replace may be covered.
Bodily injury
- If an injury occurs on the property, the cost of medical expenses may be covered. $5,000 limit for medical expenses to any one person.
Defense against lawsuits
- Coverage may provide you with legal defense and the costs of any settlements or judgments made against you if you are found liable of causing harm or damage to a third party.
Coverage Limits
Products & Completed Operations
Liability coverage that may provide protection against a claim of property damage or bodily injury arising from your work after you have finished the project.
- $1MM per occurrence, $2MM aggregate
- Coverage is extended one year after the expiration date of the policy.
Personal & Advertising Injury
Liability coverage that can help protect you from a lawsuit or claim related to non-physical injuries or damages such as libel, slander, or invasion of privacy.
- $1MM per occurrence, $2MM aggregate
*FlipShield is an annual policy with a flat cost per flip and subject to 100% earned premium. This policy is eligible for one annual term renewal. TRIA is included.
Coverage Eligibility
As a property owner who does some or all of the renovation work on a flip property, you can purchase this coverage- unless you are a professional general contractor or artisan/subcontractor.
- Use of subcontractors is acceptable if you are listed as Additional Insured on their contractor’s liability policy with matching or higher limits
- 1-4 units only
- Building must be 3 stories or less
- Subject to acceptable loss history
- No more than 2 claims in the last 5 years
- No bankruptcy
Download a flyer about FlipShield here!
Where is
coverage
available?
Coverage is available in the states highlighted in green.
Coverage is not available in the following cities: Albuquerque (NM), Portland (OR), Seattle (WA), Philadelphia (PA), or San Francisco (CA).
How much does FlipShield cost?
FlipShield is an annual policy, and costs $775 (+ applicable taxes) per flip.
Who is eligible for this coverage?
FlipShield is available to property owners who are doing some or all of the renovation work themselves. FlipShield is not available to professional contractors or artisan/subcontractors.
Check out what NREIG has to offer for real estate investors
National Real Estate Insurance Group has property and liability insurance solutions to accommodate just about any type of investment properties. After you request a proposal, an agent will contact you to discuss the best coverages for your business.
While you are flipping the property, make sure you also have coverage for the dwelling and premises liability. Explore options below.
Once the flip is complete, simply change the occupancy status to maintain your property and premises liability coverage with no interruption.
Explore additional options to customize your coverage package.