Looking for Home insurance quotes advice

New to Real Estate · St Louis, MO · Member since 2025 · 1 post · 0 votes

Hello, it's my first time buying a property and I'm stuck on how much coverage I need for insurance. I'm in the middle of purchasing a 225k property. it's a 2 unit property. I have two different quotes. I'm not sure what to go with.

which one seems like a reasonable insurance quote?

Quite 1 progressive insurance

Premium 3200

Section I - Property

Coverage A - Dwelling 495,000

Coverage B - Other Structures 49,500

Coverage C - Personal Property 247,500

Coverage D - Loss Of Use 148,500

Quote 2: Farmer's Insurance

Premium 1,652

Section I - Property

Coverage A - Dwelling 359,000

Coverage B - Other Structures 17,950

Coverage C - Personal Property 197,450

Coverage D - Loss Of Use 71,000

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Tony Wilcox
Insurance Agent · Member since 2020 · 177 posts · 76 votes
1y
Is this for a primary home, or rental home as an investment? Also I would include the deductible they are both offering.
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Jared Townsend
Insurance Agent · Orlando, FL · Member since 2015 · 297 posts · 122 votes
1y
Its tough to know from this information as the endorsements offered are equally important to the coverage limits. With that said, I would review each coverage limit and make sure that it is adequate, but not over-insured.
For example, if you don't have a fence, shed, or other 'other structure' I would reduce that coverage to the minimum. If you have a detached garage though you may even consider a higher limit than either of these quotes provide.
Ultimately I'd suggest working with a competent agent that can review these options with you to help you make an informed decision.
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Owen RosenBusiness Member
Professional · Clinton Township, MI · Member since 2015 · 678 posts · 259 votes
1y
Quote from @Sela Kwizera:

Hello, it's my first time buying a property and I'm stuck on how much coverage I need for insurance. I'm in the middle of purchasing a 225k property. it's a 2 unit property. I have two different quotes. I'm not sure what to go with.

which one seems like a reasonable insurance quote?

Quite 1 progressive insurance

Premium 3200

Section I - Property

Coverage A - Dwelling 495,000

Coverage B - Other Structures 49,500

Coverage C - Personal Property 247,500

Coverage D - Loss Of Use 148,500

Quote 2: Farmer's Insurance

Premium 1,652

Section I - Property

Coverage A - Dwelling 359,000

Coverage B - Other Structures 17,950

Coverage C - Personal Property 197,450

Coverage D - Loss Of Use 71,000

Can't answer this question with the information provided. Would have to know the exact property to give an educated response along with the details of the offers.
Would also need more detail on the offered terms.
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