Updated 3 months ago on . Most recent reply
How much landlord insurance coverage should we carry for a rental unit?
We are just under a year into our real estate journey as developers/landlords. We built 6 units last year and they are all rented and insured under a landlord insurance policy. We are wanting to confirm that we are carrying the right coverage and are not overpaying or underinsured.
How much insurance coverage should we carry per rental unit? We do require all tenants to carry their own renters insurance policies with a minimum coverage of $100K. Our units are located in Spartanburg, SC and are all identical. 3 bedrooms, 2.5 bathrooms with a private one-car garage. Roughly 1,480 sq ft.
Thank you in advance for your input!