Author Topic: Landlord insurance - who do you have, what do you pay, what are the coverages  (Read 2118 times)

Neustache

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I'll start, but I'm doing this because I'd like to switch and also compare rates a bit. 

Foremost

$800 a year

5K deductible

100K structure

100K liability


This seems like crappy coverage.  Help me out!  Who do you have, what's the premium, and what's the coverage like - and have you had to make a claim and how did that go? 


Thanks!!  :D

oinkette

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This is really going to depend on where you live.  In my neck of the woods that's pretty cheap for insurance.

arebelspy

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This is absolutely going to depend on your area, property size, etc.

Vegas insurance is super cheap (300-400).  Texas is sort of expensive, around where you're at, maybe a bit more.

Get some comparables for your area.

Put together your info and email it out to some insurance people in your area.
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neo von retorch

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When I moved out of my house, which I'm renting out, and to an apartment, my insurance agent got me a Foremost policy. It was similar to yours, though it was for about 200K. Anyway, then I immediately shopped around, and when I got my rental and auto quote from Allstate, I also got a landlord policy. It was better than the Foremost policy, and it was several hundred dollars less.

P1

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I'm an insurance agent so I'll help the best I can. You're dwelling coverage is to cover the cost of building you an entire new house from scratch if it burned down. $100k sounds low, but I'm in Los Angeles area so...

Also for the liabiliy bump it up to $500,000. Won't cost you more than $50 a year, and last thing you want is losing your property or a big part of your stache over a lawsuit. Also, it will cover you from any tenant lawsuits like for wrongful eviction and the such.