Hey everyone in Kansas City. We are working on analyzing some deals but we do not own our own home yet. What are you guys paying per month on home insurance? Is there a price per square foot that you guys are seeing? Or an overall average. Property values we are looking at are around $75,000 to $100,000 in the area.
I think you could safely assume $100/mo for insurance. That's probably pretty conservative, but put you in the ball park. I have townhouses currently and I think I pay about $70/mo each. But if your deal can't cover an extra $30 or so bucks per month, run! :)
Just got a new policy on a $111,500.00 SFR for $933.00.
@Jordan Gobely insurance during renovations or after reno is completed and you are holding on to it? Different prices.
I was meaning the insurance for holding as a future rental.
I've I've got an insurance guy here in Kansas City I use that is great. Send me a message if you want the contact info.
@Jordan Gobely use the 1% rule for insurance in the Kansas City market for your numbers and you will be covered. I have used Shelter Insurance for years for my rental properties. They have a very competitive rate for rental properties. I will say, however, that I have not had to deal with a claim with them, so I don't know how good they are at delivering on their policy.
Shelter is the worst! REIguard is the best I’ve found. I think 90/mo for a SFH is about right at the price point you’re talking about.
Hi @Aaron Brown , Can you please message me your insurance agent contact?
Thanks in advance..
Sure, I'll send a pm now
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