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Posted: 4/1/2014 4:11:22 AM EDT
[#1]
Are you living on the property? Non-Owner Occupied property insurance is usually much more expensive than owner-occupied as is replacement cost insurance verses standard insurance. I haven't been in the rental market in many years, but I don't remember many landlords who purchased replacement value insurance for investment properties, but things may have changed. Those two factors would have major impacts on insurance costs in addition to the replacement value the insurance company placed on the property.
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Posted: 4/1/2014 4:14:34 AM EDT
[#2]
Insurance on my 2 rental properties is lower than when I lived in the homes.
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Posted: 4/1/2014 6:33:26 AM EDT
[#3]
Quote HistoryQuoted:
Insurance on my 2 rental properties is lower than when I lived in the homes. i expected a slight increase compared to my home i live in, however the rental is almost half the cost of my home, and the insurance is 5.12 times more expensive... |
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Posted: 4/1/2014 11:51:41 AM EDT
[#4]
I would expect somewhere in the ballpark of $2500-$3000 a year.
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Posted: 4/1/2014 9:42:53 PM EDT
[#5]
Quote HistoryQuoted:
I would expect somewhere in the ballpark of $2500-$3000 a year. well i should find out soon enough, 6 requests for quotes sent out today. |
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Posted: 4/2/2014 12:25:41 AM EDT
[#6]
Are the units occupied right now?
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Posted: 4/2/2014 10:31:04 AM EDT
[#7]
Quote HistoryQuoted:
Are the units occupied right now? yes. with long term tenants |
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Posted: 4/2/2014 12:05:07 PM EDT
[#8]
Quote HistoryQuoted:
yes. with long term tenants Quote HistoryQuoted:
Quoted:
Are the units occupied right now? yes. with long term tenants Roger that. Unoccupied can spike the prices. FWIW, I pay about $600 for $300k replacement cost (similar in all other aspects to your policy) on a single family rental. |
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Posted: 4/2/2014 12:32:32 PM EDT
[#9]
How are you holding the property? One way to lower your insurance is to lower your liability limit. You may be able to do that safely depending on how your state treats various forms of ownership. You might consider talking to an attorney about this.
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Posted: 4/2/2014 4:31:13 PM EDT
[#10]
Quote HistoryQuoted:
Insurance on my 2 rental properties is lower than when I lived in the homes. Yep, mine was the same or went down some. Single family tho. |
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Posted: 4/3/2014 10:33:06 AM EDT
[#11]
We have a 100k rent house. Insurance is $850 a year.
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