Home insurance for Rental properties

[Jeff Cua]

Hi all,

Curious on what your thoughts are on the best home insurance for rental properties (SFH). My first property that I just rented out is under AAA, should I just stick with AAA for the next rental property that I am currently in escrow in that I will be house hacking or do should I switch both to something like Farmers? I heard there are more benefits to farmers if your an investor? Who do yo all go with for home insurance? Thanks!

Note* Im new, this will be my rental property #2

~Jeff

[Terrell Garren]

I found American Modern to be very good for many years.  Only reason I left them was I hit the max # of properties and had to move to a commercial policy.  

More important than the insurer - give good thought to your risk management strategy.  You can manage risk in 3 ways - accept, mitigate and transfer.  For example, to lower my rates I accept the risk of high deductibles and insuring to 75% of ACV. I mitigate risk through tenant selection and ongoing maintenance. I transfer risk by buying insurance.