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What is FLIP Insurance? Coverage for FLIP Insurance



FLIP Insurance was developed by Alliant Insurance Services to bring the coverage and cost advantages of group purchase coverage to public entities seeking individualized fiduciary liability coverage at a lower cost than could be purchased as a single entity. 

Qualifying Organizations

These eligible risk classes include but are not limited to: 

  • Public Employee Retirement Systems
  • State Teachers Retirement Systems
  • Standalone retirement systems
  • Police pension systems
  • States, counties, cities
  • Special districts 

Benefits of FLIP Insurance

With a lot of experience in creating joint purchase insurance programs for public entities, FLIP Insurance Services can leverage the combined size of the program’s membership and long-term relationships with insurance carriers that serve the public entity marketplace to deliver broad fiduciary liability coverage. 



This has resulted in a substantial cost saving that averages 25% below the market for standalone policies.

Because FLIP Insurance is a group, not a pool, participants do not share risk and, therefore, greater stability is offered as the insurance market fluctuates. 

The combined size of the program helps to ensure the most competitive structure in both hard and soft markets. Also, each participating entity has its limits of liability and a choice of deductibles or self-insured retention. 

what-is-flip-insurance
What is FLIP Insurance?

Coverage for FLIP Insurance

All insurance coverage is not created equal, so it is best to thoughtfully consider how much coverage you need for your house to make sure you are not under-insured.




You generally have two different options for insurance coverage:

  • Basic Form of FLIP Insurance Coverage
  • Special Form of FLIP Insurance Coverage

Basic Form of FLIP Insurance Coverage

Basic Form provides coverage for the causes of loss listed in the policy; all other causes of loss are excluded.

You will want to be aware of those that are not included in Basic Form coverage are Theft, Weight of Ice, Sleet or Snow, and Water Damage.

While Basic Form coverage can save you 25-30%, consider these exclusions.



Special Form of FLIP Insurance Coverage

This coverage form provides coverage for all causes of loss except those specifically listed as exclusions in the policy. The burden of proof is on the insurance carrier to prove that a loss was caused by a specified exclusion, or else coverage is afforded.

Exclusions you should be aware of in this type of policy include Sewer and drain Backup, Earthquake and sinkhole, Flood, and Intentional Damage. Some, but not all of these may be bought back through additional endorsements.



You also have the option of two types of settlement methods that affect your insurance costs and the amount you can recover in the event of a loss.

Actual Value of FLIP Insurance Coverage

  • Replacement Value
  • Actual Value

Actual value coverage settles claims based on the property’s value in its current condition. The actual value is calculated by taking today’s replacement value and deducting depreciation to account for the property’s age and wear and tear.

Actual value leaves you in a tough position because you may not be able to recoup all of the money that you would need to completely rebuild the property.

Replacement Value

Replacement value coverage settles claims based on the amount of money it would take to replace your damaged or destroyed home with the same or a similar home in today’s market.



It is important to note that the replacement cost value only includes the value of the home, but not the value of the land.

In general, at the very least you want to obtain enough insurance coverage to cover the amount you paid for the home and the amount invested in the property for renovations.




In the event of a total loss where you lose the entire structure, you will either have to completely re-build the property at full replacement cost or sell off the lot to another investor for them to re-build.

You will have enough coverage to pay for the replacement of the property or enough coverage to prevent a loss if you have to liquidate the lot. 

FAQs – What is FLIP Insurance?

What makes Flip Insurance different from the others?

Health insurance focuses on covering tests and treatment for a huge range of illnesses.  FLIP Insurance Coverage just covers you for specific injuries, paying a set amount for injuries caused by accidents.

Can I claim shortly after I turn my FLIP Insurance Coverage on?

If you are unlucky enough to find yourself in an accident straight after turning your insurance on, and you have suffered an injury that we cover, you can go ahead and submit a claim.

What injuries are covered?

Our accidental injury insurance covers injuries that happen because of an accident.


What is FLIP Insurance?

FLIP Insurance is a specialized insurance product designed for gig economy workers and freelancers, offering short-term, on-demand coverage for their specific needs.

What types of coverage does FLIP Insurance provide?

FLIP Insurance provides coverage for a range of gig economy activities, including liability, property, and event-specific insurance. It is tailored to protect freelancers and gig workers in various industries.

How can I purchase FLIP Insurance?

You can purchase FLIP Insurance through their website or mobile app. Simply select the type of coverage you need, input your information, and customize your policy. The process is quick and user-friendly.



Is FLIP Insurance available in my area?

FLIP Insurance is available in multiple areas, but coverage can vary by location. You can check their website or contact their customer support to determine if FLIP Insurance is available in your specific area.

What are the advantages of FLIP Insurance over traditional insurance?

FLIP Insurance offers advantages such as flexibility, affordability, and the ability to tailor coverage to your specific needs. It is designed with gig workers in mind, making it a convenient and cost-effective option for on-demand insurance.

Getting The Right Insurance For Fix And Flip

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