Estimating Rehab Holding Cost

Ok so I know about utilities and everything but I’m kind of curious about the insurance part is builders risk required even though the contractor should have insurance. Also what is the average cost of builders risk? Thanks

Your answers are YES and COSTLY.

the contractor’s insurance protects the contractor. your insurance protects you.

last builder’s risk policy we purchased (early 2006) was $750 for 90 days.

Thanks for the replies so besides basic utilities and mortgage payments builders risk may not be as costly. Also for example if I purchase builders risk for 60 days and Im done with the rehab in 20 days will they refund the month worth of insurance cost that I didnt use?

no refunds (on our policy). it sells in 90-day increments.

Who did you get the insurance through