Tennessee Duplex Insurance

3 Replies

Hi Everyone, I am close to submitting an offer on a duplex in Middle TN - I have ran the numbers in detail and they fit my criteria. The only cost I am not entirely sure on is the insurance - this will be my first investment property here in the US. If there are any investors out there in this area that could provide me with a rough estimate on insurance costs? I have a couple of insurance agents working on quotes but would like to get an idea of what other investors are paying so that I can compare. The property is a Duplex built in the 1920’s - I would be interested in insuring it for cash value and not rebuild value. Thanks for any input!

@Joshua Davies It might depend on neighborhood or other factors but I have some duplexes in Chattanooga and my insurance is about 800 per year per duplex. 

@Joshua Davies Insurance pricing has 2 main drivers of the premium;

1)  # of units - this creates the General Liability premium - should be $75-$125 for a duplex for $1M

2)  Building value drives the property rate

If you have a duplex with Property coverage of $50k and another @ $200k, the $200k will be about 4x's the premium.

For most of my investors in TN, duplexes insurance for $100k-$150k, full Replacement Cost run $600-$800 per year

@Jason Bott.  Just emailed you.  Would be interested in discussing.  

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