Rental Property Investor · Fishers, IN · Member since 2018 · 27 posts · 16 votes
I’m under contract for a property at $50k and the replacement cost is approximately $275k. Most of the insurance quotes I’m getting is around $2500. ACV at $550.
The Replacement cost quotes are
Much higher than I expected. This is a non owner occupied property. Are others experiencing rates in this range?
Hi Skylar - I'm not familiar with pricing in your region, but contacting a trustworthy Independent Insurance Agent in your area will help a lot. Being Independent means the Agent can shop lots of carriers in order to find the best rates and coverages for you. Try contacting Jason Bott. He has helped out a lot of Investors in your area. Good Luck.
@Jared Newsom Thank you for the referral! I was able to quickly get a hold of Jason and he was able to get me a policy to close on my deal. Greatly appreciate it.