Why is LLC Investment property Insurance so High?
In my name I have some investment properties which are from 4Bed/2Ba SFH to Duplex and all of them are rental property, the coverage is replacement value and the highest property insurance among these are $735. Now my investment property is expanding and I suppose to form LLC,and in last month I purchased the first investment property in the LLC name.Here is some details of the coverage, its dwelling- fire,extended,and liability in the same city with the other properties.What I can say is except premises liability,and vacant house, every thing else is almost the same coverage with the others.The new house is 3Bed/1Ba SFH. what wonders me is the insurance quote for the LLC Property that I got today,Guess what, the insurances quote that I received today is $1968.70.Since its a business i was expecting a bit higher than other properties but as you see it is way higher than the others.I wounder if you went though like this and what do you think, is this quote normal for LLC investment property insurance?.