Single family insurance

5 Replies

I live in the Houston area and have one single family house that is currently rented out. Who do y’all use for insurance on your property? I’m paying about 2300.00 a year for a home that is valued at 140,000. Thanks

I refer everyone to an insurance broker. Only time someone beats him is when the person being insured already has 3 or 5 policies with a given carrier & can get a volume discount based on that.

Who he goes through for the insurance policies seems to rotate every few months, which implies to me that insurance carriers periodically discount their policies. Meaning one month of me sending him clients it might be Allstate, Allstate, Allstate, then the market shifts and it's Geico, Geico, Geico the next month, and then the 3rd month it's some rando I've never heard of.

Seems a little high but im not sure what rates are in your current area. Make sure when you shop for a policy that you have it covered with replacement cost and special perils. Otherwise you might only get part of what what it cost on a claim and the special perils will cover more things. To have the better policy it wont cost hardly all that much more. Then check around with a few companies and see what you find. Often time your smaller mutual companies will offer better rates as they dont spend as much on marketing cost etc..

We're up here in NYS but don't pay that for a 6-plex with umbrella insurance for $625k of replacement coverage. Assuming you have not had any prior claims TX must be expensive.

Originally posted by @Chris Roberts :

I live in the Houston area and have one single family house that is currently rented out. Who do y’all use for insurance on your property? I’m paying about 2300.00 a year for a home that is valued at 140,000. Thanks

 Chris, please note insurance for the Houston area is going to be much more than other places throughout the country.  Your exact property in Ohio may only be $400 per year.

You will want to compare pricing with others in your area to see if you have a good or bad deal.  Reach out to some other local investors and even an insurance agent or 2 to get competitive quotes.