Been analyzing deals fairly regularly for a while. Still haven't signed my first deal. One place that I feel my analysis is soft is estimating landlord insurance. Anyone have best practices to share? So far, I've used Zillow's estimate.
Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
9mo
Hi Scott,
Welcome to BiggerPockets! I'm Mo, a real estate broker and investor as well. That's right — the most accurate way to estimate insurance on a rental property is to get quotes from experienced insurance agents, especially ones who work with investors.
It also helps to understand what actually drives insurance costs, because that lets you underwrite more confidently and avoid surprises. Premiums are influenced by factors like location and local risk, age and condition of property, coverage options, etc.
Good luck, and don't hesitate to reach out if you have any more questions!