Fix and Flip Insurance in San Antonio

Hard money and private lenders typically require the policy to be in place at closing, with the borrowing entity as named insured and the lender listed as mortgagee with its loan number. The title company will usually ask for evidence of insurance before funding. Send us the lender's insurance requirements with your purchase contract so the policy matches before closing day.

Once work starts, the right form depends on the scope. Inside San Antonio city limits, structural work, additions and foundation repair need a Residential Building Contractor registered with the city to pull the permit, and permitted nonstructural remodeling needs a registered Home Improvement Contractor. Collect your contractors' certificates before they start, because a sub with no insurance can push an injury or damage claim back to you as the owner.

Homeowners policies and many dwelling policies limit coverage once a house has been vacant for a set period, commonly 60 days, for losses such as vandalism, glass breakage and water damage. A flip sits empty most of the time, so it belongs on a vacant, renovation or builder's risk form for the whole project, including the listing period. When the house sells, many policies can be cancelled at closing, though some carry a minimum earned premium.