Hello everyone. I hope all is well. I’m having trouble getting business general liability insurance due to the fact that we buy and sell land, and in multiple states.
Can someone refer me companies that might insure us?
@ivyrealtyland are you talking about something beyond property insurance for each lot and E&O insurance for your business? What exactly are you looking to cover?
@retipsterseth Hi Seth. I hope all is well. I was just informed that the best option is insurance for each parcel/plot of land. Thank you!
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Hello @retipsterseth, as a land investor, primarily flipping with no added value, do I need a general liability policy? The day will come, hopefully very soon, where I may sub-divide, may hire someone to cut a driveway through woods for showing purposes or to add a gravel driveway from the road access. I have an s-corp and am just unsure of what kind of policy I need. Errors and Omissions? This may seem fundamental but I can’t seem to get clarity on best practice for insuring my land business. Thanks.
Hey @iinvestforlife! I can’t tell you what to do, but I don’t usually get insurance on straight flips in rural areas because the chances of a problem are so low and it’s kind of a hassle to get it. Is there risk in that? Yeah… but not much in my experience.
I’m f you ever want insurance, this video explains one of the easiest ways to get it:
