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Fix and Flip Insurance South Carolina

Last updated: October 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 South Carolina is a specialized policy crafted for real estate investors across the Palmetto State who purchase distressed properties with the goal of renovating and reselling them for profit. Known also as builder’s risk insurance or renovation insurance, this coverage is distinct from standard homeowners insurance because it addresses risks unique to fix and flip projects vacant properties, ongoing renovations, and frequent changes in ownership.

From Charleston’s historic neighborhoods to Greenville’s growing suburbs, whether you're just breaking into the market or managing multiple properties across the state, fix and flip insurance in South Carolina is an essential safeguard. It protects your project timeline, renovation investment, and your financial exposure in case the unexpected happens.

South Carolina’s real estate investment landscape is vibrant and diverse but not without risk.

Fix and flip insurance premiums have climbed more than 25% in the past 18 months, and this increase directly squeezes your profit margins and the viability of your deals. At OfferMarket, we review hundreds of policies each year for projects across South Carolina and beyond. Our data shows that investors are routinely quoted fix and flip insurance premiums that are about 33% higher than necessary, often due to outdated underwriting or agents unfamiliar with South Carolina’s specific insurance dynamics.

Why does this happen? Many investors secure policies through generalist insurance agents who aren’t specialized in real estate investment or construction risk. These agents may be limited to one insurance carrier—or worse, incentivized to upsell more expensive policies, since their commissions are tied to the premium size. Even when well-meaning, their quotes often miss the mark.

That’s where OfferMarket steps in. Our insurance rate shopping platform helps South Carolina investors access 40+ carriers in under a minute. Our team of experts, who specialize in insuring 1-4 unit rehab properties, reviews every quote to ensure you’re not overpaying and that your policy is compliant with both lender requirements and practical investor protections.

We’ve helped investors save thousands every month, and we’re excited to help you do the same—whether you’re flipping in Columbia, Sumter, or Myrtle Beach.

Fix and Flip Insurance Bundle

Fix and Flip Insurance Markets

Wherever your renovation project is located in South Carolina, we’ve got you covered.

Fix and Flip Insurance South Carolina: Coverage Areas

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Wherever your South Carolina rehab is based, our insurance network has you covered:

  • Charleston
  • Columbia
  • North Charleston
  • Mount Pleasant
  • Rock Hill
  • Greenville
  • Summerville
  • And beyond

Our specialized coverage spans the diverse landscapes and neighborhoods unique to South Carolina.

Why You Need Fix and Flip Insurance

1. Vacant Properties Are High Risk

In cities like Columbia and North Charleston, many fix and flip projects begin with vacant or distressed properties. Traditional homeowner’s insurance typically excludes coverage on unoccupied properties due to their elevated exposure to vandalism, copper theft, or water damage from unnoticed plumbing issues. Fix and flip insurance South Carolina addresses this gap, ensuring your investment is protected during periods of vacancy.

2. Construction and Renovation Risks

Whether you’re remodeling a duplex in Anderson or replacing the roof of a home near Hilton Head, renovation introduces a host of risks:

  • Structural issues during demolition
  • Injuries to contractors or subcontractors
  • Fire hazards from electrical work
  • Material theft from job sites

South Carolina’s humidity and hurricane season also increase the likelihood of storm-related damage. Fix and flip insurance in South Carolina is engineered to address these risks at every stage of the renovation process.

3. Liability Protection

If a contractor trips on exposed wiring in a Columbia rehab or a trespasser is injured on an unsecured site in Florence, you could be liable. That’s why general liability is a key component of your fix and flip insurance policy. It protects you from lawsuits, medical bills, and project delays caused by legal complications.

What Does Fix and Flip Insurance Cover?

Fix and flip insurance policies in South Carolina are highly customizable to suit your project's specific needs. Whether you're renovating in Summerville or rehabbing a foreclosure in Goose Creek, your policy can be tailored to protect against the full spectrum of risks.

Property Coverage

Covers your investment against physical damage to the property and materials, including:

Covered Risks
Fire
Vandalism
Theft
Lightning
Wind and hail (especially critical during South Carolina’s storm season)
Water damage (excluding flood)

General Liability

Protects you from third-party claims for bodily injury or property damage. Common scenarios include:

  • Slip and fall incidents
  • Injuries to contractors or uninvited visitors
  • Damage to neighboring properties due to your construction work

Builder’s Risk

Typically bundled with property coverage, builder’s risk applies throughout the renovation period. It includes protection for:

  • The existing structure
  • Construction materials stored on-site or in transit
  • New additions and improvements as they’re installed

Vacant Property Endorsement

Ensures uninterrupted coverage during periods when the property is unoccupied essential in areas like Orangeburg or Dillon where longer vacancy periods are common during complex rehabs.

Tools and Equipment

Optional protection for contractor tools, generators, and equipment stored or used on-site. This is especially helpful for rural or suburban projects where tool theft can go unnoticed.

Ordinance or Law Coverage

If local building codes in places like Mount Pleasant or Greenville require expensive upgrades following a covered loss, this coverage can help pay for:

  • Demolition costs
  • Code-compliant rebuilding
  • Permit and inspection fees

Loss of Rents

While not every investor flips to rent, many BRRRR investors in markets like Rock Hill or Columbia benefit from this. If you’re holding the property as a rental post-rehab, this coverage helps replace lost rental income due to a covered loss like fire or storm damage.

What is NOT covered?

While fix and flip insurance South Carolina offers robust protection, it’s important to understand the limitations. Your policy will include exclusions that, if not addressed or supplemented with additional coverage, could leave you exposed.

Here’s what typical fix and flip insurance in South Carolina does not cover:

  • Wear and tear or poor workmanship
  • Flood damage: a separate flood policy is required, especially for projects in flood-prone areas like Charleston or along the Pee Dee River
  • Earthquake damage: rare in South Carolina but usually excluded unless you add a rider
  • Intentional damage or acts of fraud
  • Losses resulting from war or government seizure

These exclusions are standard in the industry, but it’s critical to read your policy documents carefully and discuss them with a licensed agent. For example, if your flip is near the coast, such as in Beaufort or Myrtle Beach. You should strongly consider a standalone flood insurance policy. Our team can help you assess those needs.

Who Needs Fix and Flip Insurance?

Fix and flip insurance in South Carolina is a smart investment for anyone engaging in property renovation and resale across the state. If your strategy involves purchasing homes in need of repair, you need protection tailored to the unique risk profile of South Carolina properties.

This type of policy is appropriate for:

  • Individual real estate investors operating in metro areas like Columbia, Greenville, and Charleston
  • Experienced house flippers tackling multiple projects from the Upstate to the Lowcountry
  • Real estate LLCs and partnerships acquiring distressed assets statewide
  • Wholesalers who temporarily take title before assignment or resale
  • Private lenders who need to protect collateral in smaller towns or rural communities

Whether you’re transforming a $90,000 single-family home in Sumter or repositioning a $1.5M waterfront flip in Mount Pleasant, the risks are too great to go uninsured. Fix and flip insurance South Carolina protects your investment, timeline, and peace of mind, no matter your project size or experience level.

How Much Does Fix and Flip Insurance Cost?

Fix and flip insurance premiums in South Carolina vary depending on several important factors unique to your property and project. Whether you’re working on a single-family home in Aiken or a multi-unit rehab in Greenville, these variables will shape your rate:

  • Location (ZIP code, flood zone, urban vs. rural risk)
  • Property value (purchase price or market value)
  • Scope of work (how extensive the rehab is)
  • Project duration (short cosmetic flip vs. full gut renovation)
  • Coverage limits and deductibles

Here’s what South Carolina investors can typically expect:

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:

  • If you cancel your policy before its full term whether due to a fast resale or refinancing into a DSCR loan your insurance premium is usually refunded on a prorated basis.

  • South Carolina investors flipping multiple properties at once can save by bundling their projects under a “portfolio policy.” This reduces per-property premiums and simplifies management.

Whether your fix and flip is a historic row home in Columbia or a modular rebuild in Lancaster, the right insurance policy balances affordability and adequate protection.

Best Fix and Flip Insurance for South Carolina Investors

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South Carolina real estate investors have many options when it comes to fix and flip insurance but not all policies (or agents) are created equal. The best fix and flip insurance South Carolina has to offer isn’t just about price it’s about ensuring you’re properly covered from the first day of demo to the final walk-through.

Here’s what you need to consider:

  • What risks are you willing to accept?
  • How competitive is your rate shopping process?
  • Is your agent experienced with flips and renovations in South Carolina?
  • Are you confident your coverage complies with your lender’s requirements?

Working with a specialized fix and flip insurance agency that understands the nuances of South Carolina construction risk and investor needs ensures you don’t overpay or underinsure. Our team connects you to 40+ carriers and takes care of the quote, review, and compliance process so you can focus on closing deals and scaling your business.

How to Get Fix and Flip Insurance Through OfferMarket

OfferMarket simplifies the process of securing fix and flip insurance in South Carolina by connecting you with underwriters who understand both the regional risks and the business of real estate investing.

Whether you're working on a historic renovation in Charleston or scaling operations across Columbia and the surrounding Midlands, we provide a fast, transparent experience designed for local investors. Get your fix and flip insurance quote today!

The OfferMarket Advantage:

  • Fast, investor-optimized quotes delivered within 24 hours
  • Custom-tailored policies for 1 to 100+ properties across South Carolina
  • Support for various ownership structures: personal name, LLC, S-Corp, Land Trust, and more
  • Experience meeting highly specific lender insurance guidelines
  • Competitive pricing through a wide network of A-rated carriers
  • Instant Certificate of Insurance (COI) generation for smooth closings
  • Secure, streamlined policy management via your dedicated Insurance File

Insurance Requirements for Fix and Flip Loans

Most South Carolina based fix and flip lenders especially those financing projects in fast-moving cities like Greenville or Myrtle Beach.

Require the following before closing:

  • Property insurance with limits at least equal to the loan amount
  • General liability insurance with $1M+ per occurrence
  • Named insured and loss payee clauses
  • Proof of active coverage before funds are released
  • Policy must remain in effect through the duration of the loan

Failing to meet these conditions can lead to:

  • Defaulting on your loan
  • Forced-placed insurance (often at a much higher cost)
  • Personal liability for damages

OfferMarket coordinates directly with your lender during underwriting and after closing to ensure compliance. If you’re also financing your project through OfferMarket Capital, our in house lending division, your insurance and funding will move in lockstep without delay.

How to Structure Coverage for a Multi-Property Portfolio

If you're flipping homes across South Carolina from the lakeside communities of Lexington to coastal properties near Beaufort managing insurance across multiple projects can get complicated. OfferMarket helps simplify that with strategic policy structuring for high-volume investors.

Here are the most effective policy structures:

  • Blanket Policies: Covers all of your properties under a single policy, regardless of individual characteristics. Great for experienced flippers managing multiple active rehabs simultaneously across different cities

  • Scheduled Policies: Each property is listed separately with its own limits and premiums. Ideal for investors with a mix of flip type. Say, a light cosmetic rehab in Summerville and a full structural overhaul in Florences

  • Master Policies: Consolidates vacant property coverage, builder’s risk, general liability, and more into one plan and one invoice. Designed for scale and ease of administration.

South Carolina flippers who operate across diverse markets rural towns like Gaffney or high-growth areas like Rock Hill, benefit immensely from portfolio-based insurance. Our platform helps you reduce per-property costs and centralize record-keeping.

Fix and Flip Insurance Checklist

Use this checklist to make sure your South Carolina fix and flip project is fully protected:

Requirement Status
Property insurance covers full replacement cost (especially important in storm-prone Lowcountry regions) ✅
General liability of at least $1M per occurrence ✅
Vacant property endorsement included for unoccupied rehab periods ✅
Builder’s risk coverage active throughout construction ✅
Tools and equipment protection if needed on-site (common in rural or coastal builds) ✅
Lender is named as loss payee in compliance documents ✅
Flood or earthquake insurance added if required
(e.g., flood zones near Charleston, Conway, or Hilton Head)		 ✅
Policy effective dates match your renovation project timeline ✅
Certificate of insurance (COI) issued, reviewed, and stored properly ✅

Whether you’re flipping a duplex in Spartanburg or a cottage in Folly Beach, this checklist ensures your fix and flip insurance South Carolina policy meets both regulatory and practical requirements.

Fix and Flip Insurance Guidelines

Below are standard fix and flip insurance guidelines for South Carolina-based projects, particularly when financed through hard money lenders. These reflect best practices for risk management in markets ranging from Charleston to Greenville.

Property Coverage

Requirement Details
Mandatory Yes
AM Best Rating A- VIII or greater
Term 1 Year
Limits - Replacement Cost (from appraisal or estimator)
- If loan < Replacement Cost, must have Agreed Value Policy or zero coinsurance
Deductible $5,000
Accepted Policy Types - Dwelling Fire: "Special Form"
- Commercial Property: "Basic" or "Special Form"
Cancellation 30 days' notice
Exclusions - No windstorm/hail exclusion
- No named storm exclusion (critical in coastal SC)
Lender’s Designation Mortgagee

General Liability Coverage

Requirement Details
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 Basis Occurrence (not claims-made)
Cancellation 30 days' notice
Lender’s Designation Additional Insured

Business Interruption Insurance

Requirement Details
Mandatory Yes (if tenants present during or after rehab)
AM Best Rating A- VIII or greater
Term 1 Year
Limits One year of gross rental revenue
Coverage Basis Actual Loss Sustained
Cancellation 30 days' notice
Lender’s Designation Mortgagee

Flood Insurance

Requirement Details
Mandatory If in FEMA flood zone (e.g., Charleston, Hilton Head, Conway)
AM Best Rating A- VIII or greater
Term 1 Year
Limits Greater of $250,000 or loan balance
Cancellation 30 days' notice
Lender’s Designation Mortgagee

Additional Requirements

Requirement Details for South Carolina Investors
Mortgagee Clause OfferMarket Capital LLC ISAOA/ATIMA
627 S Hanover St Baltimore, MD 21230
Condos Blanket policy must include individual unit HOA maintains “all risk” coverage at 100% replacement cost
PUDs Blanket policy must include individual unit HOA maintains “all risk” coverage at 100% replacement cost
Instructions - Use ACORD form
- Submit insurance certs/invoices 24h before closing
- Final docs due 60 days post-close
- Notify carrier if property becomes vacant

Why Choose OfferMarket for Fix and Flip Insurance?

OfferMarket is the trusted partner for real estate investors throughout South Carolina from the capital city of Columbia to the scenic shores of Charleston. We simplify the fix and flip process by integrating property acquisition, financing, and insurance all under one roof.

With South Carolina’s mix of coastal storm risk, rural construction codes, and fast-moving metro markets, you need a partner that understands the nuances of local real estate. That’s what makes OfferMarket different.

What Sets Us Apart:

  • Real-time insurance and deal management platform
  • Dedicated support team that knows South Carolina markets
  • Integrated lending and insurance tailored to investors
  • No wasted time shopping our platform does it for you
  • Smart matching with investor-friendly carriers that write policies in SC

Frequently Asked Questions About Fix and Flip Insurance

Do I need insurance before closing on a flip?

Yes, your lender or title company (even for cash deals) will require active insurance coverage before settlement. OfferMarket can generate a Certificate of Insurance (COI) in just a few hours.

Can I get insurance even if the property is already under renovation?

Yes, but you’ll need to disclose all existing work. Some carriers might require a property inspection or limit coverage types mid-project. Especially if the structure is exposed or gutted.

What if I sell the property early?

You can cancel your policy before the term ends. Your carrier will refund unused premiums on a prorated basis.

Can I insure multiple flips under one policy?

Absolutely. Portfolio policies are especially helpful for South Carolina investors operating in multiple cities like Rock Hill, Florence, and Greenville. You’ll save money and reduce administrative headaches.

What if I’m also renting out a unit before the flip?

If there are tenants on-site before or during renovation, your fix and flip insurance may not apply. You’ll need a hybrid or landlord policy that allows temporary occupancy.

How does OfferMarket Insurance work?

OfferMarket Insurance is a rate shopping platform designed for real estate investors. We find competitive landlord and fix and flip insurance policies that align with your lender's requirements and your own preferences.

Can I use my preferred insurance agent?

Yes, if they understand fix and flip insurance requirements and offer access to commercial carriers. However, many personal lines agents in South Carolina lack this specialization, which can delay closings and cost you more.

Can I pay for insurance at closing (on the HUD-1 or ALTA)?

Yes, most South Carolina lenders allow the premium to be paid through your closing documents or directly to your insurance agent (with a paid receipt submitted in advance).

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

Not usually. Most SC lenders expect you to manage your own insurance payments. If your flip takes longer than 12 months, you’ll need to show proof of renewal. Early cancellation still earns you a prorated refund.

What is an AM Best Rating?

AM Best evaluates the financial strength of insurance companies. Lenders generally require a rating of A- VIII or higher to ensure claims are paid reliably.

What is builder’s risk insurance?

Builder’s risk is part of your fix and flip coverage. It protects your structure, materials, and equipment during renovations. It ends once the property is sold, occupied, or construction is complete for 90+ days.

Protect and grow your portfolio with OfferMarket

Fix and flip insurance isn’t a luxury it’s a necessity, especially in South Carolina. With profit margins under pressure, hurricane threats on the coast, and varying code enforcement across counties, seasoned investors know that protecting against downside risk is just as important as chasing ROI.

Whether you’re flipping one home a year in Sumter or juggling multiple projects across Spartanburg, Rock Hill, and Myrtle Beach, OfferMarket’s insurance solutions are designed to grow with your portfolio.

OfferMarket is a real estate investment platform purpose-built for 1-4 unit residential properties. Our mission is to help you build wealth through real estate with less friction and more confidence. We hope you will accept our invitation to join us and over 20,000 registered members.

Membership is entirely free and comes with the following benefits:

☂️ 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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