How much should insurance cost?
I'm looking at a potential first property. It is a single-story duplex on a crawlspace. It is worth about $100k. It has vinyl siding and is on about a 1/3 acre lot.
I asked ISG for a quote and sent to them the listing only (no one has been onsite to check out the duplex).
This is what I was given as a first quote:
Total annual premium $2,111.52
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1. DWELLING FIRE COVERAGE
COVERAGE LIMIT DEDUCTIBLE VALUATION
COVERAGE Building, LIMIT$ 250,000, DEDUCTIBLE $1,000 (all perils), VALUATION Replacement Cost
COVERAGE Other Structures, LIMIT $25,000, DEDUCTIBLE $1,000 (all perils), VALUATION Replacement Cost
COVERAGE Fair Rental Value, LIMIT $ 25,000
COVERAGE Vandalism & Malicious Mischief Coverage is included
2. LIABILITY COVERAGES
COVERAGE Premise Liability, LIMIT $500,000
COVERAGE Medical Payments to Others - $ 5,000
Payment Options:
Annual Paid in Full $2,111.52
Monthly $ 410.23 down payment with 10 monthly payments of $ 183.50
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Are these numbers about what you would expect for a (2-unit) duplex?