Expected Insurance Premium on 8unit

[Mark Grozen-Smith]

Hey BP Friends,

I'm about to close an 8 unit in CO Springs. The value of the property is just over $1m (aka $150k/unit), but the insurance quote came in at 10k-12k/year. There are no unusual circumstances like high flood risk or anything, so we want to confirm with others that this is reasonable to expect.

What do you think we could expect for smaller multifamily insurance rates? What is reasonable to expect here?

Thanks!

Mark