We have our first rental property in Indianapolis under contract and I've received a couple quotes for homeowner's insurance, 1 was nearly double the other. I was hoping there was a standard amount of coverage/deductible (which it seems to be whatever the agent thinks is best), but actual cash value vs. replacement cost adds a totally new variable that makes it even more confusing. I guess I'm just curious if there is a percentage of home value that is pretty standard to have as amount of coverage. The deductible is set at 1% of coverage, which seems reasonable to me. Purchase price is 73500 and the dwelling coverage quoted was 129600 (although ARV most likely 90-100k). If anybody knows of any great agents/brokers around the Indianapolis area referrals would be greatly appreciated. Any help/advice greatly appreciated!

Thanks,

Ryan