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Updated almost 7 years ago on . Most recent reply

User Stats

12
Posts
17
Votes
Anthony Harper
  • Saint Louis, MO
17
Votes |
12
Posts

Landlord Policy for 4-Plex

Anthony Harper
  • Saint Louis, MO
Posted

I'm under contract right now for a 4-family in South City, St Louis. My objective with this landlord policy is to protect my investment, whether there is a partial loss or total loss. I've narrowed it down the choice between two carriers and there's a significant price difference between the two, as one offers replacement cost and the other actual cash value.

Purchase Price:202,500
Loan Amount: ~$160,000


Option 1: $1500/year
Coverage Amount: $205,000 - ACTUAL CASH VALUE
Includes: Liability, Earthquake, Loss of use


Option 2: $2,800/year
Coverage Amount: $500,000 - REPLACEMENT COST
Includes: Liability, Earthquake, Loss of use


I can't decide which policy is more appropriate to protect my investment. Opinions and advise is greatly appreciated. 

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