Do I need an insurance broker?

Question

I'm paying $1100 for insurance on my investment property in the atlanta area.  $160k rebuilding costs coverage with $1million/$2million liability coverage.  Am I paying too much?  Should I seek out an insurance broker?

Wale Lawal · Answer

@Chris Nocera Yes, I believe you are paying too much I typically pay around $1200/Year for the same property price range in Houston, Texas. I will suggest you identify an experienced insurance agent for a cheaper quote.

Chris Nocera · Answer

Thanks...sounds like there are better options.  I contacted a few brokers and will go from there.

Tony Wilcox · Answer

With your deductibles at $2,500 you can definitely do better. Some carriers I have used in that area that seem to have good prices with better deductibles is Travelers, and SafeCo. It all depends on the person and place though of course.

Matthew Trotter · Answer

State Farm has always been expensive for me. Not sure what type of insurance you're looking for, but I have basic landlord insurance from Amfam that costs $325 per year on a rental condo.

Josephine Ramesh · Answer

@Chris Nocera

I just got a quote for my 4 properties, all in Atlanta area. Very similar to your quote. The only difference is deductible is around $1500. This is with statefarm which is surprising.

Chris Nocera · Answer

$2500 deductible.  Real Protect.

Matthew Nicklin · Answer

Whats your deductible? Top tier carrier? I always recommend people shop their insurance.