Home insurance estimates

[Jordan Diaz]

Hey BP folks!  I am looking to purchase my first rental property in the St. Petersburg or Tampa area in Florida. I was curious how everyone estimates their home insurance costs? I am looking into areas that DO NOT require flood insurance, so I can eliminate that, but I still find the home insurance cost is my biggest variable when analyzing deals.  I am currently using $2400/year when analyzing. Can anyone let me know their advice, suggestions, personal experience. Thanks! 

Also, as mentioned I am looking to invest in those above areas so if anyone is currently investing in long term rentals in that area I'd love to have an opportunity to speak with you! Greatly appreciated everyone!

[Bob Ebaugh]

I think you mean $1500 a year?   That's about right for older frame homes too in the $200,000 range with under 1000 sq/ft and clean 4 points.   No aluminum wire or knob and tube wiring.   Min 100A service.  No polybutylene pipe and limited galvanized.   The biggest savings are for a recent documented reroof up to current code and then clips for roof to wall connections.   Probably for any in Tampa St Pete, but especially older pre 1950's homes, Citizens is the right company.   We have all our rentals there.