How Is My Insurance Policy Compared To Yours?
My local independent agent has carried my policies for 4+ years on these properties. How do these rates compare, should I shop around before renewing?
Property A: Just cash out refinanced this bungalow last spring. Appraised at $48,000, needs a roof and rents for $650/mo. The policy is $734 annually.
Property B: Paid $42,000 with 20% down and have about $8,000 self-done improvements. As an appraiser, I'd say it's market value is around $90,000. Rent is $850/mo. The policy is $1033 annually.
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Policy copy attached**