Rental property insurance

[Talley Haines]

Im looking at paying around 1400 a year for insurance on a sfh that we paid around $80,000 and is 1900 sqft. We will put in around 20,000 to rehab and expect the house to be in the $120-130,000 price range.  Does this seem reasonable? 

[John Patton]

@Talley Haines

I own a hand full of C class homes worth about 65 k and they cost about a grand each annual. Insurance has gone up about 55-60% last 2 years with no claims thanks to all the lawyers that advertise on tv. Alabama is a plaintiff friendly state and you and I and everyone else is paying for them dam lawyers. One ad said don’t worry about suing the person because they are really going after their insurance company which means the insurance company raises our rates. And that’s why. Good luck. Jp