Feedback on my insurance quote in Maine

Feedback on my insurance quote in Maine

Rental Property Investor · Bath, ME · Member since 2014 · 220 posts · 288 votes

Hello - I'm preparing to close on my first investment property, located in Bath, ME, and I'm wondering if the Mainers here might chime in on the insurance quote I received for a DP3 policy.  Here are the details for this 3,250 brick 4-plex:

Replacement: $564k

10% Rent Loss

$1 Million liability

$5k medical

$5k personal property

$5k deductible

Premium - $1,703/yr. ($142/mo.)

Does this look reasonable, can I do better, and who might you recommend me reaching out to if so?

Thanks,

Mike

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  • Portland, ME · Member since 2012 · 616 posts · 550 votes
    11y

    That's comparable to what I pay.

  • Rental Property Investor · Bath, ME · Member since 2014 · 220 posts · 288 votes
    11y
    Do you insure replacement value or cash value?
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