I have single family and Duplexes and I have been shopping around and I am surprised and the differences in price and coverage. Just wondering what the BP community thinks as far as coverage and cost?
policy #1 $3496 for 2 single family and a duplex $1000 deductible $1,000,000 liability 50% replacement
Policy #2 $5713 for 2 single family and a duplex $1000 deductible $1,000,000 liability 80% replacement and personal injury and loss of rent.
would love to get some opinions.
It is difficult to do a direct apples to apples comparison w/o my endorsements in front of me, and I have a much bigger umbrella for liability. Both quotes seem high; but perhaps rates in NY are that much higher. I am thinking 2100 for all three based on 500-750k value for each property, with a higher deductible-2500, and 100% replacement. I shop insurance every two years just to keep my provider honest.
Looks high - but the personal injury and loss of rent riders will always bump the rates up a bit.
@Michael McConlogue Pricing is ok if all of the buildings are valued over $1M. If under $1M, then the rate seems high.
What are the buildings insured for?