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Fix and Flip Insurance North Dakota

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Last updated: June 15, 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 purpose-built policy crafted to safeguard North Carolina real estate investors as they purchase, renovate, and resell properties for profit. Unlike ordinary homeowners insurance, this coverage is designed to address the risks that come with vacant properties, active construction, and rapid ownership turnover—realities that are common in North Carolina’s bustling fix and flip and BRRRR markets.

Whether you’re acquiring your first fixer-upper in Charlotte or orchestrating multiple rehabs in Raleigh, fix and flip insurance North Carolina is a cornerstone for protecting your investment capital, liability exposure, and renovation timelines.

Recently, North Carolina investors have seen a notable surge in fix and flip insurance premiums—rates are up by more than 25% over the last year and a half. This increase can eat into your margins and impact deal viability. At OfferMarket, our insurance and private lending teams review hundreds of fix and flip insurance policies across North Carolina each year. We’ve discovered that many policies are quoted nearly 33% above what’s necessary, strictly based on lender guidelines and sound risk management.

A key reason? Many local real estate investors turn to insurance brokers who lack expertise in commercial fix and flip policies. These agencies are often incentivized to push pricier premiums because their compensation is tied to your policy cost. Even well-meaning agents can deliver lackluster rates if they’re tied to a single carrier or lack North Carolina fix and flip specialization.

This is why OfferMarket built its insurance rate shopping platform. In less than a minute, North Carolina investors can compare coverage from over 40 carriers, ensuring you get the optimal combination of price and protection. Every quote is reviewed by our expert team, who specialize in helping residential real estate investors across the Tar Heel State save thousands every month.

Fix and Flip Insurance Bundle

Fix and Flip Insurance Markets

Wherever your project is in North Carolina—from Wilmington’s coastline to Asheville’s mountain neighborhoods—OfferMarket provides tailored coverage for your needs.

And if you invest beyond state borders, we also serve:

Why You Need Fix and Flip Insurance in North Dakota

1. Vacant Properties Carry Extra Risk

North Dakota’s fix and flip properties often begin their journey vacant—and with that comes added exposure to risks like vandalism, theft, or damages that may go undetected for weeks (especially in winter). Standard insurance policies typically void or exclude coverage on vacant homes, leaving you unprotected when you need it most.

2. Renovation Risks Are Real

Whether you’re rehabbing a craftsman in Jamestown or modernizing a duplex in Dickinson, renovations open the door to structural damage, contractor accidents, fire hazards, and even theft of building materials. North Dakota fix and flip insurance is designed for these realities, providing tailored protection during every phase of your project.

3. Liability Protection for Every Job Site

If a contractor, visitor, or even a trespasser is injured on your property in North Dakota, you could be held personally liable. Comprehensive fix and flip insurance provides the general liability coverage that keeps you protected from lawsuits and unexpected medical bills.

What Does Fix and Flip Insurance Cover in North Dakota?

Fix and flip insurance policies in North Dakota are highly adaptable, letting you choose coverage options that suit your project, location, and risk tolerance. Here are the core protections commonly included—or available as add-ons—for North Dakota investors:

Property Coverage

This fundamental coverage protects your property and materials against hazards such as fire, vandalism, theft, lightning, wind, hail, and non-flood water damage. Given North Dakota’s sometimes severe storms, wind and hail coverage is especially critical. Whether you’re restoring a Victorian home in Fargo or updating a rental in Bismarck, property coverage safeguards both the existing structure and renovation materials on-site.

General Liability

General liability insurance provides protection if a third party—such as a contractor, inspector, or even a trespasser—is injured on your property or claims property damage. Slip and fall accidents, injuries to workers, or damage to a neighbor’s property during construction are all real risks. Liability coverage shields you from lawsuits, medical costs, and legal expenses arising from these situations in North Dakota.

Builder’s Risk

Often bundled with your property coverage, builder’s risk insurance specifically protects your structure while under renovation. It extends to materials in transit or stored at the property, as well as any new features installed during your North Dakota rehab. If your project is damaged before completion, builder’s risk helps you get back on track without a major financial setback.

Vacant Property Endorsement

Since many fix and flip projects in North Dakota start with vacant homes, this endorsement ensures your policy remains valid even when no one is living at the property during renovations. Many standard insurance policies would otherwise exclude coverage for vacant properties, so this is a crucial add-on for local investors.

Tools and Equipment

If you or your contractors keep tools or rented equipment on-site, this optional coverage protects against theft or damage to these items. With theft from job sites being a growing issue—even in smaller North Dakota towns—this coverage provides valuable peace of mind.

Ordinance or Law Coverage

Should your property suffer a loss, local building codes in North Dakota may require costly updates or even demolition before you can rebuild. Ordinance or law coverage helps cover these extra expenses so you can bring your property up to code after an insured event.

Loss of Rents

If you plan to rent out your property after renovations, loss of rents coverage (sometimes called business interruption coverage) protects you if a covered loss prevents you from collecting rental income. This is especially important for BRRRR investors and those rehabbing duplexes or multifamily units across North Dakota.

What’s NOT Covered

Routine wear and tear or shoddy workmanship
Flooding (requires a separate flood insurance policy in North Dakota’s flood-prone areas)
Earthquake damage (typically excluded or needs a separate rider)
Intentional acts or fraud
War, government seizure

It’s important to carefully review the exclusions on your policy and discuss any unique needs with your North Dakota insurance agent.

Who Should Get Fix and Flip Insurance in North Dakota?

Fix and flip insurance is built for:

Individual real estate investors
House flippers
LLCs and partnerships buying or rehabbing properties
Wholesalers temporarily holding title (double close)
Private lenders seeking collateral protection

Whether you’re flipping a $90,000 rambler in Mandan or tackling a $2,000,000 farmhouse conversion outside Fargo, this insurance is an essential tool for managing risk in North Dakota.

How Much Does Fix and Flip Insurance Cost in North Dakota?

Fix and flip insurance premiums in North Dakota depend on several factors, including the property’s location, value, and the extent of your planned renovations. Whether you’re rehabbing a bungalow in Fargo, a duplex in Grand Forks, or tackling a farmhouse outside Bismarck, these variables all influence your final rate. Additional considerations—like the length of your project, your desired coverage limits, and the deductible you select—also play a major role.

Key Cost Factors

Location: Rural properties may have different rates and risks compared to projects within city limits or growing towns.
Property Value: Higher-value homes and buildings under renovation generally require larger coverage amounts, increasing premiums.
Scope of Work: Projects involving structural changes, major system replacements, or higher rehab budgets tend to result in higher premiums.
Project Duration: Longer renovations may require extended policy terms, which can affect the total cost.
Coverage Limits and Deductibles: Raising your coverage or lowering your deductible will impact your annual premium.

Example Rates for North Dakota Investors

Property Value	Rehab Budget	Estimated Annual Premium (ND)
$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: These are estimates for North Dakota and your actual quote will depend on specific property details, location, and risk profile.

Additional Cost Tips for North Dakota Flippers

Pro-Rated Refunds: If you sell or refinance your North Dakota property before the policy expires, you’ll usually receive a pro-rated refund for the unused premium.
Portfolio Discounts: Bundling several North Dakota properties under a single “portfolio policy” can often lower the per-property cost.
Lender Requirements: Most North Dakota lenders will want to see coverage at least equal

Best Fix and Flip Insurance

You have many choices when it comes to shopping for fix and flip insurance in North Dakota. Ultimately, the right policy depends on the level of risk you’re willing to take, how much you want to spend, the effectiveness of your rate shopping process, and the support you get from your insurance agent and service team.

For North Dakota investors, it’s wise to look for a comprehensive fix and flip insurance policy that includes property insurance, general liability insurance, business interruption insurance, and—if your property is located in a flood zone—flood insurance as well.

Working with an insurance agency that understands the fix and flip market in North Dakota and can access a wide range of carriers is the surest way to get both quality coverage and competitive pricing. With OfferMarket, you can compare policies across more than 40 top-rated carriers, ensuring your investment in North Dakota is protected. Get your fix and flip insurance quote today and discover how much you can save on your next project.

How to Get Fix and Flip Insurance Through OfferMarket

OfferMarket simplifies the process of securing fix and flip insurance for North Dakota investors. Our platform connects you with specialized underwriters who are well-versed in the needs of real estate investors across the state.

The OfferMarket Advantage in North Dakota

Fast quotes, typically within 24 hours
Custom insurance policies for portfolios ranging from a single property to 100+
Support for all title-holding entities: individual name, LLC, C-Corporation, S-Corporation, Revocable Trust, Land Trust, LP
Flexible options to match the guidelines of North Dakota lenders
Competitive pricing from highly rated carriers
Easy generation of proof of insurance (COI)
Secure storage of all insurance records in your personal Insurance File

Insurance Requirements for Fix and Flip Loans in North Dakota

Most North Dakota lenders will require:

Property coverage at least equal to your loan amount
General liability coverage, often $1 million per occurrence
Named insured and loss payee clauses
Proof of insurance provided before closing
Continuous coverage for the entire loan term

Failing to keep the necessary insurance in place may result in loan default, force-placed (and more expensive) insurance by your lender, or even personal liability for damages. OfferMarket makes the process seamless by coordinating with your lender, from underwriting through closing. If you secure both your fix and flip loan and your insurance through OfferMarket Capital, our North Dakota-based clients enjoy an especially streamlined borrowing and insurance experience.

How to Structure Coverage for a Multi-Property Portfolio in North Dakota

If you’re flipping more than one property at a time in North Dakota, you have several options for structuring your insurance coverage. Choosing the right approach can make managing your policies simpler and reduce your per-property costs.

Blanket Policies: One policy covers all your North Dakota properties, making administration easier and often resulting in better pricing as your portfolio grows.
Scheduled Policies: Each property in your portfolio is listed separately, with its own coverage limits and premiums, allowing for precise customization.
Master Policies: These combine various forms of coverage (such as vacant property, builder’s risk, and more) into one streamlined bill, helping high-volume North Dakota investors control costs and administration.

OfferMarket helps North Dakota’s most active flippers optimize insurance for their entire portfolio—so you spend less time managing paperwork and more time on your projects.

Fix and Flip Insurance Checklist

Use this checklist to make sure your North Dakota fix and flip project is fully protected:

✅ Property insurance covers full replacement cost
✅ General liability of at least $1 million
✅ Vacant property endorsement included
✅ Builder’s risk coverage for renovation phase
✅ Tools/equipment coverage if needed
✅ Lender named as loss payee
✅ Flood or earthquake insurance if required for your area
✅ Policy dates match your project timeline
✅ Certificate of insurance issued and stored securely

Fix and Flip Insurance Guidelines

Below you’ll find the standard guidelines for fix and flip insurance policies on North Dakota projects, especially when financing with a fix and flip loan or hard money loan. Following these best practices ensures both you and your lender are fully protected, no matter if you’re working in Bismarck, Fargo, or a rural North Dakota community.

Property Coverage

Requirement	North Dakota Guideline
Mandatory	Yes
AM Best Rating	A- VIII or greater
Term	1 Year
Limits	- Replacement Cost (per appraisal or Replacement Cost Estimator) - At least equal to Loan Amount. If loan is less, use an Agreed Value Policy or ensure zero coinsurance
Deductible	$5,000
Accepted Policy Types	- Dwelling Fire ("Special Form") - Commercial Property ("Basic" or "Special Form")
Cancellation Notice	30-day notice required
Exclusions	- No windstorm or hail exclusion - No named storm exclusion
Lender’s Designation	Mortgagee

General Liability Coverage

Requirement	North Dakota Guideline
Mandatory	Yes
AM Best Rating	A- VIII or greater
Term	1 Year
Limits	$1,000,000 per occurrence $2,000,000 aggregate
Deductible	$1,000
Coverage Details	Occurrence basis for losses (not claims-made)
Cancellation Notice	30-day notice required
Lender’s Designation	Additional Insured

Business Interruption Insurance

This coverage is optional but very important if you plan to keep tenants in your North Dakota property while the policy is in effect or after a rehab is completed.

Requirement	North Dakota Guideline
Mandatory	Yes
AM Best Rating	A- VIII or greater
Term	1 Year
Limits	One year of effective gross rental revenue
Coverage Details	Provision for Actual Loss Sustained is acceptable
Cancellation Notice	30-day notice required
Lender’s Designation	Mortgagee

Flood Insurance

If your North Dakota property is in a FEMA special flood hazard area, flood insurance may be required by your lender.

Requirement	North Dakota Guideline
Mandatory	If in flood zone (obtain Flood Zone Determination)
AM Best Rating	A- VIII or greater
Term	1 Year
Limits	Greater of $250,000 or the loan balance
Cancellation Notice	30-day notice required
Lender’s Designation	Mortgagee

Additional Details

Category	North Dakota Requirement / Guidance
Mortgagee Clause	OfferMarket Capital LLC ISAOA/ATIMA 627 S Hanover St Baltimore, MD 21230
Condos	A blanket policy is acceptable if the individual unit is covered. The homeowners association must hold all-risk coverage on common areas, fixtures, personal property, and equipment at 100 % of insurable value on a replacement-cost basis.
PUDs (Planned-Unit Developments)	The project’s blanket policy may be used if it explicitly lists the unit. The HOA must carry all-risk coverage for common areas, fixtures, personal property, and equipment at 100 % of their insurable value on a replacement-cost basis.
Borrower Instructions	• Use an ACORD form for compliance. • Send insurance certificates, invoices, or paid receipts no later than 24 hours before closing. • Provide final policy documents within 60 days after closing. • If the property becomes vacant or unoccupied, notify the carrier and secure a vacancy permit for the entire vacant period.

Why Choose OfferMarket for Fix and Flip Insurance?

OfferMarket is the trusted choice for North Dakota real-estate investors—from Fargo’s urban flips to rural rehabs on the prairie. Our integrated platform removes friction across acquisition, financing, and insurance so you can focus on profitable projects, not paperwork.

What Sets Us Apart

Real-time deal and insurance management portal
Dedicated investor-support team familiar with North Dakota regulations
Integrated lending, off-market deal flow, and insurance rate shopping
Smart matching with investor-friendly carriers—no wasted time comparing quotes
One-click certificates of insurance and secure digital record-keeping

Frequently Asked Questions

Do I need insurance before closing on a North Dakota flip?

Yes. Whether you’re using cash or a hard-money lender, proof of insurance is required before you take title. OfferMarket can issue a certificate of insurance in a matter of hours.

Can I get coverage if renovations have already started?

Absolutely, but you must disclose existing work. Some carriers may require an inspection or limit certain coverages mid-project.

What if I sell the property early?

You can cancel pro rata and receive a refund for the unused premium.

May I insure multiple North Dakota flips under one policy?

Yes. Portfolio and blanket policies can cut costs and simplify management.

What if the property has a tenant before or during the flip?

Some fix and flip policies exclude active tenants. In that case, you’ll need a landlord or hybrid policy—OfferMarket can arrange both.

Can I use my own insurance agent?

You can—as long as the agent can meet lender guidelines and provide competitive commercial coverage. Many personal-lines agents in North Dakota struggle with these requirements, so we recommend working with specialists.

Can I pay the premium at closing?

Yes. Hard-money guidelines allow premiums to be paid on the HUD-1 / ALTA statement, or directly to the agent before settlement (with a paid receipt).

Is escrowing required?

Most fix and flip lenders in North Dakota do not escrow insurance. You’re responsible for keeping the policy active—especially if your project exceeds 12 months.

What is an AM Best rating?

AM Best rates the financial strength of insurers. North Dakota lenders typically require an A- VIII rating or higher.

What Is Builder’s Risk Insurance?

Builder’s risk is a core component of fix and flip insurance. It protects:

Buildings under renovation
On-site materials and equipment (within 100 ft)
Foundations and newly installed fixtures

Coverage usually ends when:

The property is sold.
Ninety days pass after construction completion.
The building is occupied or used as intended.
Your insurable interest ceases.
The project is abandoned.

Most North Dakota builders risk policies use a Completed-Value Form, where the dwelling limit equals the property’s ARV or replacement-cost estimate.

Protect and Grow Your Portfolio with OfferMarket

Fix and flip insurance isn’t a luxury—it’s a necessity. North Dakota’s tight margins, aggressive timelines, and extreme weather demand strong downside protection. Whether you flip one house a year in Minot or manage dozens of projects statewide, OfferMarket’s insurance solutions scale with you.

OfferMarket is dedicated to helping North Dakota investors build wealth through real estate:

☂️ Landlord Insurance rate shopping platform specialized in landlord insurance that meets DSCR loan guidelines
🏚️ Off Market Properties marketplace featuring hundreds of exclusive and off market deals posted by wholesalers, tired landlords and distressed sellers.
💰 Private Lending featuring instant quotes and a simple, low cost, transparent borrowing experience for DSCR loans, Fix and Flip loans and Slow Flip loans.
💡 *Insights regularly published to provide you with a knowledge advantage.

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