Help! Is my property over-insured?
Good evening everyone,I
It may sound silly but I need help determining if my first investment property is over-insured. I have a 3/2 SFR I purchased in 6/2014 for $98,500 in Houston. I estimate the property to be worth approx. $105,000 after my improvements. As part of the closing process I contacted the insurance agent who did the policy for my primary residence and just paid for the policy. I have read through the forums and see people quoting $600 premiums for their properties and I'm not sure if property insurance is more expensive in Houston or if my policy is not the proper type.
Does this seem like overkill and too expensive of a policy?