Who do you have for landlords insurance?

Question

My first property is in escrow and I am searching for landlord insurance. Who do you have? What is your coverage and What does it cost?

Bill B. · Answer

You could just click on the magnifying glass in the upper right. It has been asked HUNDREDS of times.

But unless you find someone in your market with the same type of property the numbers won’t mean anything.

It’s so friggin cheap go with a big name that will pay you when you have a loss.

Joshua Bailey · Answer

@Tom R. Is there an answer for this yet haha. Just asked the same question

Tom R. · Answer

That's for the responses people but I did clearly ask several questions. You guys might be better suited to politics than real estate.

Michael Plante · Answer

I choose to self insure. Run the numbers and see what makes sense to you.

If you choose to pay for insurance you may want to see how much more for rent interruption and tenent damage

Marcus Auerbach · Answer

@Thomas Robb - your lender will require that you carry a policy on the property - this insures you mainly against loss of the asset. Talk to your insurance provider about replacement cost vs actual cost and deductables. These are some opportunities to reduce monthly cost and still get what you need. Beyond that you should consider an umbrella policy - it is a policy that kicks in after you have hit the limit on your primary policy. Typically coverage is $1M. In my opinion the best insurance are sound business practices: make sure your property is well maintained, especially anything that involves electricity and water, make sure your property is safe, have any work inspected and pull permits, do everything by the book and document what you do, learn how to choose tenants wisely and make sure you respond to issues timely. All this will help you to avoid issues all together. You and your insurance have one common goal - never use them!

Who do you have for landlords insurance?

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