How to estimate insurance cost?

[Zachary Schimenz]

I'm currently analyzing properties, and trying to get accurate numbers for insurance cost.

So first I tried requesting quotes online from various companies, but I'm realizing those are for personal properties, not investment properties, so I always have to call in and it takes like 20 to 30 minutes to get a quote over the phone.

How do you estimate insurance cost when you just need to ballpark it? Is there a "rule of thumb" percentage of the purchase price to estimate for insurance cost?

Thanks and let me know!