Property Insurance - Out of state rental - Jackson, MS

Member since 2023 · 23 posts · 9 votes

Hello BP!

My question is around property insurance and specifically what are everyones MUST HAVE COVERAGES.

I currently have a 4/2 SFH/LTR/Section 8 house under contract and I am getting quotes for property insurance. Property value ~$100,000 and will have tenet renters insurance in place.

I would love to maximize cash flow but also do not want to be left on an island if there is damage.

Thoughts on this?

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Tony Wilcox
Insurance Agent · Member since 2020 · 178 posts · 76 votes
1y
If that is full RC for roof and home that is a good price for that area! I would consider adding loss of rents coverage.
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James MaysPro Member
OP
Member since 2023 · 23 posts · 9 votes
1y
Thanks for the reply Tony. What do you mean by RC?
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Allen Howell
Property Manager · Jackson, MS · Member since 2023 · 9 posts · 0 votes
1y
Hey James! If you have not already purchased this policy, I would look for a policy that provided a stated amount deductible for wind/hail vs. a % deductible. There are carriers that will write landlord policies without a % deductible. If I can help with any other questions, don't hesitate to reach out!
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