Investor Buying and Flipping Homes(GL)

[Santa Rosa Ins Broker]

I am looking for GL coverage for an Investor that is buying and flipping houses using licensed and insured contractors.

It appears he is currently bare as regards the Products/Completed Ops exposure and the first 2 quotes, from First Mercury and one other carrier are unwilling to offer the Prod/Comp Ops coverage.

Any thoughts?

My concern would be that he sells a home that later burns due to the faulty work of an electrician he hired(just an example) and the electrician is out of business, insurance has lapsed, whatever. If he is sued how large is this hole in his program?

[LadyBroker]

I write a lot of these, on a monthly reporting form. Here's the thing --- you are not going to get the Prod/Comp Ops for your owner. If he has work done on the homes while he owns them, my policy warrants that he hires a licensed GC who names my client as an additional insured.

if your client is doing the work himself, he is bare for a products claim later.

If you want to talk further, give me a call.

Lisa A. Foley, ASLI
Broker
Bliss & Glennon Escondido
760 737 7979, X115