Updated about 11 years ago on . Most recent reply
Homeowners insurance
Hello bp!
I have just purchased two investment properties, one townhouse and one condo. I need to get homeowners insurance before closing and I am wondering what a suitable amount of coverage would be. I believe that both properties have a master policy because they are members of an hoa. The insurance rep she would recommend 50k, which covers all interior damages. I'm assuming all exterior damages would fall under the hoa policy. I am so grateful for this website, I have gotten great feedback.
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Jon Holdman
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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
Just to be clear you DO NOT want homeowners insurance. You want landlord insurance. Homeowners is for properties you live in. Landlord insurance is for rentals.