The policy that fitted the first house does not fit the twelfth.

General liability

Liability across every property in the schedule, including the ones between tenants and the ones being worked on.

Without it — Ownership is what gets named in the suit, and it does not pause because a unit is empty.

Portfolio or blanket property

One schedule across multiple properties and entities, rather than a policy each.

Without it — Twelve renewal dates is how a property ends up uninsured.

Builders risk for rehabs

Coverage for a property under renovation, for the length of the project.

Without it — A vacant or landlord form generally excludes the construction work.

Vacancy between stages

The gaps: bought and not started, finished and not let, listed and not sold.

Without it — The gaps are exactly when vacancy clauses bite.

Liability across entities

Liability naming every LLC that owns something, with an umbrella over all of it.

Without it — An entity not named on the policy has no coverage to claim on.

Landlord liability once let

The tenant-facing exposures once a property is occupied.

Without it — A held property and a let property are different risks on the same asset.

Should I have one policy or one per property?

Past three or four properties, one schedule is usually better on both price and safety. A blanket or portfolio policy gives one renewal date, one deductible structure and one place to add an acquisition, and the administrative point is not trivial: the most common way an investor ends up with an uninsured building is a policy that lapsed among eleven others, or a property bought in a new LLC and never added. It also makes a single umbrella over the whole portfolio straightforward.

What coverage does a flip need?

It changes at each stage, and that is the whole difficulty. Builders risk while work is underway, covering the structure and materials; a vacant form for periods when it is idle; and landlord coverage if you let it rather than sell. Buying one landlord policy at acquisition and leaving it in place through a gut renovation is the standard mistake: the construction is excluded, and so, often, is the vacancy around it.

Coverage between stages

How should the LLCs be handled?

Every owning entity must be a named insured, not merely referenced, and lenders added as mortgagee where required. This is worth auditing rather than assuming: investors restructure, form new entities and move title between them far faster than policies get endorsed, and a deed transferred to an entity that is not on the policy is a coverage argument at the worst moment. Send the current schedule of entities and properties once a year and we will reconcile it.