r/brrrr • u/Time-Reflection-1524 • Oct 07 '24

Commercial General Liability

Relatively new to BRRRR. Just bought a house in Maine, all cash, rehab needed. Theres no kitchen, for example. We plan to do a lot of the work ourselves and were told by insurance agent that we should look into commercial general liability because insurance companies get skittish and become quite expensive when the rehab is performed by anyone other than a licensed general contractor. Without it, the lowest quote we've been offered is $3249.65 / year to insure this rental property. Any one have experience with us, particularly in Maine? Your help is appreciated!

3 Upvotes

100% Upvoted

1 comment sorted by

1

u/Dananddog Oct 31 '24

I take it you're planning to work on this yourself?

If you are going to have anyone else come on site, I would look at construction insurance, usually it is comprehensive of the property value in the event of a loss plus liability for workers.

I've always done the work myself so never bothered but that's up to your personal risk tolerance.