Last updated: June 6, 2025
"The first rule in investment is don't lose and the second rule in investment is don't forget the first rule." - Warren Buffett
Fix and flip insurance—sometimes called Indiana renovation insurance or builder’s risk insurance—is a custom policy created to safeguard property investors in the Hoosier State who purchase, renovate, and resell real estate for profit. Unlike standard home insurance, these policies are tailored for vacant Indiana homes, construction hazards, and frequent ownership transfers—situations that are almost guaranteed in Indiana fix and flip and BRRRR projects.
Whether you’re a first-time investor rehabbing a South Bend duplex or a seasoned pro flipping historic houses in Indianapolis, fix and flip insurance in Indiana is your financial safety net. It helps protect your cash, minimize liability, and keep your timeline intact.
Fix and flip insurance premiums in Indiana have jumped over 25% in just the past year and a half, squeezing investor margins and making deals harder to pencil out. At OfferMarket, we compare hundreds of Indiana fix and flip insurance policies every year, and we consistently find that most Indiana investors are quoted rates about 33% higher than necessary, based on lender guidelines and local investor needs.
Why is this happening? Many Indiana real estate investors buy insurance from agents who aren’t experts in commercial real estate. Worse still, most agents are paid a percentage of your premium—so you could be upsold on coverage you don’t need. Some insurance agents offer sky-high Indiana fix and flip insurance quotes simply because they’re limited to one carrier or aren’t specialized in these policies.
That’s why OfferMarket built a smarter way for Indiana property investors to shop for fix and flip insurance. In about 60 seconds, you can compare 40+ insurance carriers for Indiana properties. Our team of fix and flip specialists reviews every quote, and we save our Indiana clients thousands each month. Let’s see how much you can save on your next Indiana flip.
No matter where your investment project is in Indiana, we have you covered: Other states we cover include:
Indiana fix and flip projects nearly always start with a vacant property. Standard home insurance often excludes or cancels coverage on empty Indiana homes due to high risks like vandalism, theft, and damage that goes undetected (like burst pipes in the winter or electrical fires).
Whether you’re gutting a Gary bungalow or putting a new roof on a Fishers rental, rehab work brings new hazards:
Indiana fix and flip insurance is designed to cover all phases of your local renovation, keeping your project on track.
If someone is hurt on your Indiana job site—whether a contractor or trespasser—you could be on the hook. A quality fix and flip insurance policy for Indiana includes general liability, protecting you from lawsuits and medical costs.
Indiana fix and flip insurance policies can be customized for your specific property and project. Common coverage types include:
Protects the home and building materials from:
Fire
Vandalism
Theft
Lightning
Wind and hail
Water damage (except flood)
Covers claims for bodily injury or property damage filed by others:
Slip and fall accidents
Injuries to contractors or trespassers
Damage to neighboring Indiana properties
Usually combined with property coverage, builder’s risk insures the Indiana property under renovation, any materials in transit or storage, and new features being installed.
Keeps your policy valid, even if the Indiana property sits empty during rehab.
Optional coverage for stolen or damaged tools or rented machinery at your Indiana job site.
Pays for added costs if you need to bring your Indiana property up to code after a covered loss—including demolition or rebuilding to meet local laws.
Sometimes bundled in, this protects your rental income if your Indiana property is rented after the flip or while you’re renovating. Especially useful for BRRRR deals and multifamily properties in Indiana.
Normal wear and tear or shoddy workmanship
Flooding (separate flood policy required)
Earthquakes (may need a special rider)
Intentional damage or fraud
Acts of war or government seizure
Always read your Indiana policy exclusions and talk with your agent.
Fix and flip insurance is vital for:
Individual Indiana real estate investors
House flippers
Indiana-based real estate LLCs and partnerships
Wholesalers taking title before reselling
Private lenders with Indiana collateral
From a $90,000 South Bend single-family to a $1.5 million Carmel estate, Indiana fix and flip insurance is a smart move for managing risk.
Premiums for Indiana fix and flip insurance vary based on:
Location in Indiana
Property value
Rehab budget
Project timeline
Coverage limits
Deductible choices
Property Value | Rehab Budget | Estimated Annual Premium |
---|---|---|
$150,000 | $50,000 | $1,000 – $2,000 |
$300,000 | $100,000 | $1,500 – $2,500 |
$500,000 | $200,000 | $2,000 – $3,500 |
Note:
Most annual premiums are refundable on a pro-rated basis if you cancel before the term ends (such as after a quick sale or refinance).
Bundling multiple Indiana flips under one policy can reduce your per-property cost.
There are plenty of options for Indiana fix and flip insurance, but the best policy is the one that balances risk, cost, and convenience for your unique project. You want comprehensive Indiana fix and flip coverage—including property insurance, general liability, business interruption, and, when necessary, flood insurance.
Choosing an insurance partner that understands Indiana’s real estate market and can access a wide range of top carriers ensures you get the best deal. With OfferMarket, you can compare Indiana fix and flip insurance quotes from dozens of providers and work with specialists who know the ins and outs of investing in the Hoosier State. Get your custom Indiana fix and flip insurance quote today.
OfferMarket makes it simple for Indiana investors to secure fix and flip insurance. Our connections with underwriters who truly understand Indiana real estate mean you get fast, reliable, and tailored coverage.
Fast Indiana fix and flip quotes, typically within 24 hours
Policies for single Indiana properties or portfolios of 100+
Support for all title-holding structures: individual, LLC, S-Corp, land trust, and more
Adherence to lender guidelines commonly used in Indiana
Competitive pricing through leading carriers
Quick certificate of insurance (COI) generation
Secure record-keeping for all your Indiana insurance files
Most Indiana lenders will expect you to have:
Property coverage at least equal to the loan amount
General liability insurance (usually $1M+ per occurrence)
Lender-specific clauses (named insured, loss payee)
Proof of insurance before closing
Coverage maintained through the loan term
If you don’t keep proper Indiana insurance in force, you could risk:
Loan default
Forced-placed insurance (much more expensive)
Personal financial liability
OfferMarket makes this seamless by working with your Indiana lender from underwriting through closing. If you finance your Indiana fix and flip with OfferMarket Capital, both the lending and insurance process is even smoother.
If you’re flipping several Indiana properties at once, consider:
Blanket policies: One policy covers all your Indiana flips
Scheduled policies: Each Indiana property listed separately with its own coverage
Master policies: Bundle various coverages (vacant property, builder’s risk) into a single bill
OfferMarket helps Indiana investors with multiple projects cut costs and streamline insurance management.
Use this checklist for your Indiana fix and flip projects:
✅Property insurance at full replacement value |
---|
✅At least $1M general liability |
✅Vacant property endorsement |
✅Builder’s risk for the rehab phase |
✅Tools/equipment coverage if needed |
✅Policy names your lender as loss payee |
✅Flood or earthquake coverage if needed (Indiana has flood zones!) |
✅Policy start/end dates fit your project timeline |
✅Certificate of insurance issued and saved |
Below you’ll find standard Indiana fix and flip insurance guidelines for hard money (fix and flip) loans. These are considered industry best practice for risk management in Indiana.
Property Insurance | Mandatory |
---|---|
AM Best Rating | A- VIII or higher |
Term | 1 Year |
Limits | Replacement Cost (per appraisal or cost estimator); or Loan Amount with Agreed Value Policy |
Deductible | $5,000 |
Accepted Policy Types | Dwelling Fire ("Special Form"); Commercial Property ("Basic" or "Special Form") |
Cancellation | 30-day notice |
Exclusions | No windstorm/hail exclusion; No named storm exclusion |
Lender’s Designation | Mortgagee |
General Liability | Mandatory |
---|---|
AM Best Rating | A- VIII or higher |
Term | 1 Year |
Limits | $1,000,000 per occurrence; $2,000,000 aggregate |
Deductible | $1,000 |
Coverage Details | Occurrence basis |
Cancellation | 30-day notice |
Lender’s Designation | Additional Insured |
Business Interruption | Mandatory |
---|---|
AM Best Rating | A- VIII or higher |
Term | 1 Year |
Limits | 1 year gross rental revenue |
Coverage Details | Actual Loss Sustained |
Cancellation | 30-day notice |
Lender’s Designation | Mortgagee |
Flood Insurance | Mandatory |
---|---|
AM Best Rating | A- VIII or higher |
Term | 1 Year |
Limits | Greater of $250,000 or loan balance |
Cancellation | 30-day notice |
Lender’s Designation | Mortgagee |
Item | Indiana-Specific Details |
---|---|
Lender’s Mortgagee Clause | OfferMarket Capital LLC ISAOA/ATIMA 627 S Hanover St Baltimore, MD 21230 |
Condominiums (Condos) | Blanket policy may be used if it allows the Indiana unit to be individually insured. Association must maintain “all risk” coverage for common areas, fixtures, and equipment at 100% of replacement value. |
Planned Unit Developments (PUDs) | Project’s blanket policy may be used if it includes your Indiana unit. Homeowner association should carry “all risk” coverage for all common areas and property at full replacement cost. |
ACORD Forms | Use Indiana-compliant ACORD forms to prove coverage and meet state and lender documentation standards. |
Policy Certification | Send insurance certificates, invoices, or paid receipts at least 24 hours before your Indiana closing. |
Final Policy Documents | Submit all final policy documents no later than 60 days after your Indiana closing. |
Vacancy Notification | If your Indiana property becomes vacant or unoccupied, immediately notify your carrier and obtain a vacancy permit covering the full vacancy period. |
Flood Zone Properties | If your Indiana property is in a FEMA flood zone, you must secure compliant flood insurance; OfferMarket will provide a flood zone determination. |
Replacement Cost Requirement | Indiana lenders require coverage at full replacement cost; use your appraisal or a replacement cost estimator for compliance. |
OfferMarket is the trusted choice for Indiana property investors and lenders. Our platform is designed to make property acquisition, financing, and insurance as frictionless as possible—so you can focus on your Indiana deals.
Real-time Indiana deal and insurance management
Expert investor support team
Integrated lending, insurance, and off-market Indiana deal flow
No wasted time shopping—we do it for you
Smart matches with investor-friendly Indiana insurers
Yes. Your Indiana lender (or title company, if buying with cash) will require proof of insurance before you close. OfferMarket can issue an Indiana certificate of insurance in just hours.
Yes, but you must disclose all ongoing work. Some Indiana insurers might require an inspection or limit coverage for projects already in progress.
You can cancel your policy pro-rata and get a refund for any unused premium.
Absolutely. OfferMarket offers portfolio policies that cut costs and make managing several Indiana properties easy.
Some Indiana fix and flip insurance may not cover active tenants. You’ll need a landlord or hybrid policy that allows temporary occupancy.
We’re an Indiana fix and flip insurance rate shopping platform built for property investors. OfferMarket shops the best carriers, ensuring your policy meets both your and your lender’s requirements—at the lowest possible price.
You can, provided your agent offers competitive Indiana fix and flip coverage and meets your lender’s requirements. Be aware: delays often happen when using agents unfamiliar with Indiana fix and flip guidelines.
Yes. Your insurance premium can be paid on your HUD-1/ALTA statement or directly through your agent. If you pay directly, you’ll need to show a paid receipt before closing.
Usually not. You’re responsible for keeping coverage in force and paid. If your Indiana project runs over 12 months, you’ll likely need to show the policy is renewed for another year. You’ll receive a pro-rated refund if you cancel early.
AM Best is an agency that rates the financial strength of insurance carriers, helping Indiana investors pick strong partners.
Builder’s risk protects your Indiana property and construction materials during the renovation or build phase. Coverage usually ends when the property is sold, occupied, or construction is finished.
Fix and flip insurance in Indiana isn’t optional—it’s a must-have. With Indiana’s tight investment margins, strict timelines, and the unexpected always around the corner, smart Indiana investors know that managing risk is as important as chasing returns. Whether you’re tackling your first Indianapolis flip or scaling a Fort Wayne portfolio, OfferMarket has insurance solutions that grow with you.
OfferMarket is dedicated to Indiana rental property and fix and flip investors. Our goal is to help you create wealth through Indiana real estate.
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