Updated over 6 years ago on . Most recent reply
Insurance
What type of policy do you all use for a rental property? Replacement cost or actual cash value? And why?
Also, how much do you pay monthly for insurance (I'm in Indiana)?
Most Popular Reply
If the property is vacant, you will need to have a "builders risk" policy. This is usually paid all up front for 3 months at a time. This cost around $300-$400 for most homes under $50k here in Indianapolis.
Once it's occupied, you can switch to more affordable insurance paid monthly or quarterly.
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