Landlord insurance for out of state SFR

[Samantha Soto]

I'm looking for landlord insurance for a purchase of a SFR we are planning in Huntsville, AL. We don't have the property yet, but I wanted to get some quotes for some we have been interested in the get a general idea of costs for the sake of running numbers. We will be out of state landlords and we rent instead of own our primary residence. The quote I received sounds extremely high to me, with lower liability than I had expected. Dwelling 144k Other structures 14,400 Personal property 5k Loss of use 14,400 Premises liability 300k Medical 1k Totaling payments if $1202 per year. Anyone have companies they recommend? What type of coverage limits should I be looking to get for SFR rental? I had done some prior research and expected something more around $600-700/year with $1 million liability. Any advice is appreciated! Also, can someone explain to me the difference between landlord insurance and an umbrella insurance policy?