Insurance per Unit (2-4 units)

[Harman N.]

Hi all,

What's the average cost of insurance per unit on 2-4 unit properties, in your experience? Of course it depends on location, value of the property, etc but looking to get some data points for triangulation.

I'm closing on a duplex in Columbus (my first out of state rental!) for $110k, and am getting insurance quotes > $1k. 

- Harman

[Jill F.]

We avg 37/door/month. our nicer duplexes were  50/door/month

[Harman N.]

Originally posted by @Jill F.:

We avg 37/door/month. our nicer duplexes were  50/door/month

$37 x 12 x 2 = $888, $50 x 12 x 2 = $1,200. So the quotes I'm getting then don't seem all that unreasonable.. 

[Luciano A.]

@Harman N.

Ask to get cash value and replacement type policy so you can compare. Each has its pros/cons.

If you are trying to lower your monthly premium get highest deductible you can and get $300k general liability then get an umbrella policy for $1m to help cover ur personal assets as well as ur rental.

Once you get a handful of these properties get commercial policy which can lump sum them under one versus individual policies for each.