Insurance quotes

2 Replies

I've been searching for a good insurance company for my rental.  So far prices have been surprising to say the least.

I saw others saying their policies covering around $150k with $1M liability paying $500ish. Are these just great rates?

What I've gotten so far:


Dwelling: $283k (USAA only does replacement)

Fair rent: $28k

Liability: 300k (Plan on making $1M)

Deductible: $2k

Total annual premium: $990

So far all other companies are insuring the property for less and charging me more.  The thing is the $283k figure is asinine.  My personal home which is bigger, nicer, in more desirable neighborhood has a lower replacement estimate.  

Are there any nation wide companies I should be looking into that offer these prices I read or have prices sharply risen recently?  I've called State Farm, Allstate, and Progressive so far.

I have found the the smaller insurance companies are better for rentals. I've switched half of mine from State Farm because they are ridiculous. The $990 number is about right for the national companies.

Thanks for the quick reply.  I also found something interesting in speaking to USAA again, they put a 25% "padding" in order to ensure if rebuild costs run higher you're still covered which isn't stated up front until you speak to them.  Since I don't care to rebuild and would be taking an actual value should the need arise removing this so-called safety net changed my quote significantly.

The new dwelling insured amount is $227k

Liability coverage $1M

Deductible @ 1% $2,270

Annual Premium: $727.07  

Anyone who uses USAA might want to look into this, they called the 25% extra "Home Protector".