New Landlord - Insurance Question

[Mike B.]

I'm a new landlord. The very FIRST DAY my tenant moved into the house we get hit by a hailstorm that damaged my roof. State Farm estimated the damages at about $18,000. My deductible is 2% of the insured value which comes out to about $4500. The good news is that the roof repairs are only going to cost about $16,000 so my out-of-pocket costs are just about $2000. 

Honestly, I didn't really put much thought into insurance and just called my local State Farm office and asked for a Landlord Policy. We are in suburban Austin. Is a 2% deductible standard for a rental property? 

• Premium = $800
• Dwelling = 224,000
• Dwelling Extension = 22,400
• Personal Property = 11,200
• Loss of Rents = Actual Loss Sustained
• Business Liability = 500,000
• Annual Aggregate = 1,000,000
• Medial Payments = 3,000 (each person)
• Deductible = 2%