Landlord insurance
I got a quote for landlord insurance and I wanted to get opinions here. I'm converting my Chicago condo into rental property. There is no current policy or insurance company to call or bundle services with. This is a 1br condo that is 700 sq ft. They said I could save about $50 by lowering these two things I've listed below. Do you guys see anything else you'd change? Thanks... I've never done this before. In case you can't read the premium total, it's $276/yr.
Building Property Coverage A $70,000 - is this too much? Another company said I should only need $45k
Liability $1,000,000 - is this too much? The other company said I'd only need $500,000