Insurance- Am I doing this right?
Hi everybody,
My team and I just acquired our 5th property. I am trying to evaluate our insurance needs for 4 condos, and 1 SFH. We currently have policies for each place, which have minimal interior coverage, and 100k of liability per policy. Each policy costs about 300 bucks a year. While we don't have enough capital to "self insure" these places, they are relatively inexpensive. Our primary concern is liability insurance.
Is it typically cheaper to have one policy for all properties as you start to acquire more units? Is this possible? Do we keep just adding a 300 dollar policy for each new unit? 100k liability per place probably isn't enough either.
I know more information is probably required, but any general opinions would be great! Just starting to do my initial research.Thank you!