Rental home insurance

[Account Closed]

I've been shopping around for insurance for 2 properties I recently purchased in Indianapolis. I have been quoted $2000-$2400 full coverage with replacement costs ect. (For both properties) And $1200 for coverage with Actual Cash Value only (for both properties). What do investors typically get for their properties. I like the idea of good coverage but in this situation it dips into my cash flow. Let me know your thoughts. Thanks everyone

[Rodney Kuhl]

@Account Closed I've done ACV to this point. Actually with me about to add my 3rd property my policy is changing to Replacement Cost for about the same price. I'm not sure if that's typical or if that is just how this lender does it, but something to keep in mind as well. Those numbers for the quotes look about like what I've found as well.

[Paul Ewing]

I have two with replacement cost coverage and three with ACV.  I prefer replacement cost for my more costly ones since Foremost isn't charging much more for my house with it than ACV ($45/yr).

[Shawn Holsapple]

I use ACV for my lower end vacant wholesale deals & replacement cost on occupied assets.

What price range are these homes?  The quote sounds on the higher side.

[Account Closed]

i have ACV, 100k (which is more then the property is worth) = $37/mo

[Arlan Potter]

I use ACV on all properties. ACV of about 80% of the insurance calculated value. A commercial policy with 1 Million liability per house. We basically self insure for part of any losses. Losses are very rare.

[Kim Smith]

Rental property insurance gives you, Coverage for up to 10 of your tenant occupied. These insurance covers damages to your property from fire, hai and other damages.Also covers legal fees due to injury claims or property damage occurring.