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General Landlording & Rental Properties

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Dmitriy Fomichenko
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Property Insurance for rental in Mobile AL

Dmitriy Fomichenko
Tax & Financial Services
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#1 New Member Introductions Contributor
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  • Anaheim Hills, CA
Posted Jul 30 2015, 16:31

I own a rental property in Mobile AL for over 10 years now and the property insurance have been going up every year on it. We are with Farmers Insurance. I just got a renewal notice and the insurance premium for next year is $3,000!!! which is outrageous for a property worth $120K. It looks that not very many carriers will insure in that area. The property actually located in Semmes, AL (zip 36575), which is right next to Mobile. 

I know there are other landlords out there and would appreciate any feedback you can provide regarding who do you use for your insurance for landlord policy? Any recommended insurance agents covering this area? How much are you paying for landlord coverage for a 3/2/2 1500 sq. ft. dwelling (or similar)? 

Thank you!

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