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Fix and Flip Insurance Massachusetts

Last updated: June 12, 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, often called renovation insurance or builder’s risk insurance, is a specialized policy crafted for real estate investors who buy, renovate, and resell properties for a profit. In Massachusetts, where property values can swing widely between Worcester County, Cape Cod, and Greater Boston, this insurance is critical for covering risks unique to the Bay State—vacant homes, active construction sites, and frequent changes in ownership, all of which are standard in fix and flip and BRRRR projects.

Whether you’re flipping a classic triple-decker in Dorchester or modernizing a ranch in Springfield, fix and flip insurance is a must-have for anyone wanting to protect their capital, manage liability, and keep renovation timelines on track in Massachusetts.

Across Massachusetts, fix and flip insurance premiums have climbed more than 25% in the past 18 months. This can make or break your project’s profit margins, especially as construction costs and property values rise in hot spots like Cambridge or Salem. At OfferMarket, our insurance rate shopping division reviews hundreds of fix and flip policies every year across the Commonwealth. We regularly find that investors are quoted premiums almost 33% higher than what is truly necessary for their lender’s requirements and risk profile.

The main reason? Many Massachusetts investors purchase insurance through agencies that don’t specialize in commercial or investment properties. These agencies, often motivated by commission-based sales, might push more expensive policies—even unintentionally. In fact, captive agents who represent only one carrier can’t comparison-shop or customize coverage for the unique demands of the Massachusetts market.

That’s why OfferMarket created a smarter way to shop insurance. In under a minute, you can compare 40+ top carriers and secure the right fix and flip insurance for Massachusetts projects at the most competitive rates. Every quote is quality-checked by experts who focus on 1-4 unit residential investment properties. Every month, we help Massachusetts investors save thousands—how much could you save on your next flip?

Fix and Flip Insurance Bundle

Fix and Flip Insurance Markets

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Wherever your project in Massachusetts may be—Boston, Lowell, Worcester, or the Berkshires—we’ve got you covered.

Why You Need Fix and Flip Insurance in Massachusetts

1. Vacant Properties, Local Risks

Most fix and flip projects in Massachusetts begin with vacant homes—triple-deckers, brownstones, and colonials left empty for weeks or months. Standard homeowner’s policies often exclude or void coverage when properties are unoccupied, exposing you to vandalism, copper theft (a common risk in the Northeast), and unseen damages from New England’s harsh winters.

2. Construction Hazards in the Commonwealth

From historic restorations in Plymouth to full-gut renovations in Somerville, Massachusetts projects face construction risks like:

  • Structural mishaps

  • Contractor injuries

  • Fire hazards (especially in wood-frame homes)

  • Stolen materials or equipment

Fix and flip insurance addresses these head-on, providing tailored coverage for every renovation stage.

3. Liability Coverage

If a contractor, inspector, or even a trespasser is hurt onsite, you could be on the hook for medical costs or legal action. Proper fix and flip insurance in Massachusetts includes general liability protection to cover legal fees and damages—an essential safeguard for investors statewide.

What Does Fix and Flip Insurance Cover in Massachusetts?

Fix and flip policies are flexible. Here’s what you can expect in a Massachusetts-focused policy:

Property Coverage

Protects the building and renovation materials against:

  • Fire and lightning

  • Vandalism and theft

  • Wind and hail (important during Nor’easters)

  • Water damage (excluding floods)

General Liability

Covers bodily injury or property damage claims from:

  • Slip-and-fall accidents

  • Injuries to workers or visitors

  • Damages to neighboring properties (for those tight Boston rowhouses)

Builder’s Risk

Typically bundled with property coverage, this insures the structure under renovation, materials in transit or storage, and new installations.

Vacant Property Endorsement

Keeps your coverage valid even when your Massachusetts property is unoccupied during renovations.

Tools and Equipment

Optional protection for your tools or any rented machinery on site—useful when you’re moving between jobs in the city or suburbs.

Ordinance or Law Coverage

Pays for extra costs if you have to bring your property up to current Massachusetts building codes after a covered loss—especially relevant with New England’s older housing stock.

Loss of Rents

If you’re planning a BRRRR in Massachusetts or renting units during rehab, this coverage protects your rental income if a covered loss disrupts your cash flow.

What Isn’t Covered?

  • Wear and tear or bad workmanship

  • Floods (requires separate flood insurance, especially important along the coast or in flood-prone areas)

  • Earthquake damage (rare, but a separate rider is needed)

  • Intentional damage or fraud

  • Acts of war or government seizure

Review all policy exclusions carefully and consult with your Massachusetts insurance agent to make sure you’re fully protected.

Who Needs Fix and Flip Insurance in Massachusetts?

  • Individual investors and local house flippers

  • Real estate LLCs, partnerships, and trusts

  • Wholesalers who take title in Massachusetts before resale

  • Private lenders who want to safeguard their collateral

Whether you’re flipping a single-family in Lynn or rehabbing a luxury home in the Back Bay, fix and flip insurance is a must for every Massachusetts investor.

How Much Does Fix and Flip Insurance Cost in Massachusetts?

Premiums are based on:

  • Location (Boston, Worcester, Cape Cod, etc.)

  • Property value

  • Scope of work (SOW/rehab budget)

  • Project duration

  • Coverage limits and deductibles

Example Rates for Massachusetts

Property Value Rehab Budget Estimated Annual Premium
$150,000 $50,000 $1,100 – $2,000
$300,000 $100,000 $1,600 – $2,600
$500,000 $200,000 $2,200 – $3,700

Note:
Massachusetts insurance premiums are generally refundable on a pro-rated basis if you cancel before your term is up—usually due to a sale or refinance. If you bundle several properties under one portfolio policy, your per-property cost can drop even further.

Best Fix and Flip Insurance Massachusetts

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Massachusetts investors have plenty of choices, but the best fix and flip insurance is the one that balances risk, price, and service. Look for comprehensive coverage—including property, liability, business interruption, and (if needed) flood insurance—and work with a broker who knows the local market.

OfferMarket specializes in Massachusetts fix and flip insurance, giving you access to multiple carriers and competitive rates. Get your quote today!

How to Get Fix and Flip Insurance Through OfferMarket

OfferMarket streamlines your Massachusetts insurance search by connecting you to expert underwriters familiar with local investing.

The OfferMarket Advantage in Massachusetts

  • Fast quotes—often in under 24 hours

  • Custom policies for portfolios large and small

  • Support for personal names, LLCs, corporations, trusts, and partnerships

  • Policies tailored to lender requirements in Massachusetts

  • Competitive pricing from top carriers

  • Easy proof-of-insurance (COI) generation

  • Secure document storage

Insurance Requirements for Fix and Flip Loans in Massachusetts

Most Massachusetts lenders will require:

  • Property coverage equal to or exceeding the loan amount

  • General liability ($1M+ per occurrence is common)

  • Properly named insured and loss payee clauses

  • Proof of insurance before closing

  • Ongoing coverage for the duration of the loan

Failure to maintain required insurance could result in:

  • Loan default

  • Costly forced-placed insurance

  • Personal liability for uncovered damages

OfferMarket handles all coordination with your lender, making the process seamless for Massachusetts investors—especially if you finance your fix and flip or DSCR loan with OfferMarket Capital.

Structuring Coverage for a Massachusetts Property Portfolio

If you’re flipping multiple homes in Massachusetts, consider:

  • Blanket policies: Cover all properties with one policy

  • Scheduled policies: Each address listed with separate limits and premiums

  • Master policies: Combine vacant property, builder’s risk, and more, under a single bill

OfferMarket helps high-volume Massachusetts investors save money and streamline administration.

Fix and Flip Insurance Checklist Massachusetts

Use this checklist for your Massachusetts projects:

Checklist Status
Full replacement cost property insurance ✅
General liability ($1M+) ✅
Vacant property endorsement ✅
Builder’s risk for renovations ✅
Tools/equipment coverage (Optional)
Lender named as loss payee ✅
Flood/earthquake insurance (if required) ✅
Coverage period matches project ✅
Certificate of insurance issued/stored ✅

Fix and Flip Insurance Guidelines for Massachusetts

Below are typical insurance guidelines for Massachusetts fix and flip loans (a.k.a. hard money loans):

Property Coverage

Mandatory Yes
AM Best Rating A- VIII or higher
Term 1 Year
Limits Replacement cost or loan amount (whichever is higher); appraisal or cost estimator used
Deductible $5,000
Policy Types Dwelling Fire ("Special Form"), Commercial Property ("Basic" or "Special Form")
Cancellation 30-day notice
Exclusions No windstorm/hail or named storm exclusions
Lender Designation Mortgagee

General Liability Coverage

Mandatory Yes
AM Best Rating A- VIII or higher
Term 1 Year
Limits $1,000,000 per occurrence / $2,000,000 aggregate
Deductible $1,000
Details Occurrence basis
Cancellation 30-day notice
Lender Designation Additional Insured

Business Interruption Insurance

Mandatory Yes
AM Best Rating A- VIII or higher
Term 1 Year
Limits 1 year of effective gross rental revenue
Details Actual Loss Sustained provision is acceptable
Cancellation 30-day notice
Lender Designation Mortgagee

Flood Insurance (If Required)

Mandatory If in FEMA flood zone
AM Best Rating A- VIII or higher
Term 1 Year
Limits Greater of $250,000 or the loan balance
Cancellation 30-day notice
Lender Designation Mortgagee

Additional Details

Detail Description
Mortgagee Clause OfferMarket Capital LLC ISAOA/ATIMA 627 S Hanover St, Baltimore, MD 21230
Condos Blanket policy may be used if it covers the individual Unit; HOA must have “all risk” coverage for common areas, fixtures, and equipment at 100% replacement cost
PUDs Project’s blanket policy may be used if it includes the Unit; HOA must have “all risk” coverage at full replacement value
Instructions Use ACORD forms for compliance. Submit certifications, invoices, or receipts no later than 24 hours before closing. Submit final policy documents within 60 days of closing. Notify insurer if property becomes vacant and get a vacancy permit for the entire vacant period.

Why Choose OfferMarket for Fix and Flip Insurance Massachusetts?

OfferMarket is the trusted choice for Massachusetts investors and private lenders. Our platform simplifies acquisition, financing, and insurance procurement from start to finish.

What Makes Us Unique:

  • Real-time management of deals and insurance

  • Local support from investment specialists

  • Integrated platform for insurance, lending, and off-market deal flow

  • No time wasted shopping carriers—we do it all for you

  • Smart matching with investor-friendly insurance providers

Frequently Asked Questions: Fix and Flip Insurance Massachusetts

Do I need insurance before closing on my Massachusetts flip?

Yes, proof of insurance is required by lenders or title companies before closing. OfferMarket can provide certificates of insurance quickly.

Can I get insurance if my Massachusetts property is already under renovation?

Yes, but you must disclose any ongoing work. Some carriers may require an inspection or limit coverage.

What if I sell early?

You can cancel your policy pro-rata and get a refund for unused premium.

Can I insure multiple Massachusetts properties under one policy?

Absolutely—portfolio policies save money and reduce administrative hassle.

What if I rent out a unit before the flip is complete?

If you have tenants, you’ll need landlord or hybrid coverage, as some fix and flip policies won’t cover active rentals.

How does OfferMarket Insurance work?

OfferMarket shops the Massachusetts market for the most competitive landlord and fix and flip policies, always ensuring your preferences and lender requirements are met.

Can I use my preferred insurance agent?

Yes, if your agent offers competitive fix and flip coverage and can follow lender guidelines. However, using an agent without Massachusetts fix and flip experience can lead to delays and higher costs.

Can I pay my insurance premium at closing?

Most Massachusetts lenders will allow insurance payment on the HUD-1/ALTA settlement statement or directly to your agent (with receipt).

Do I need to escrow my fix and flip insurance premium?

Usually not, but you must ensure your policy is paid and active throughout the project. If your flip lasts more than 12 months, be prepared to show proof of renewal.

What is an AM Best Rating?

This rating measures the financial strength of insurance companies.

What is builder’s risk insurance?

Builder’s risk insurance protects your Massachusetts renovation project from fire, theft, wind, and other perils until the project is complete or sold.

Protect and Grow Your Massachusetts Investment Portfolio

Fix and flip insurance in Massachusetts isn’t just an option—it’s essential. The state’s fast-paced market, challenging weather, and historic housing stock make proper coverage critical for protecting your investment, your timeline, and your reputation. Whether you’re flipping a single Cape Cod cottage or managing a large portfolio across the Commonwealth, OfferMarket’s insurance solutions scale with you.

Protect your capital. Protect your reputation. Protect your future in Massachusetts real estate.

OfferMarket is a real estate investment platform designed for rental property investors, specifically for 1-4 unit residential properties in Massachusetts. Our mission is to help you build wealth—securely and efficiently—through local real estate.

Landlord insurance rate shopping, exclusive off-market property deals, and private lending all in one place. Get started with OfferMarket today!

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