Comparing Landlord Insurance quotes

[Sammy Lyon]

Hi all! I was wondering if folks had insight on quotes for landlord insurance. I got 3 quotes on a property that are all very similar in price (~850/yr). All 3 are from agents who were personally recommended by investors. They’re pretty standard in terms of deductibles and coverages — so I’m not sure what I should be looking out for in order to choose. I’m sure there are details I’m not seeing that would help me pick and would love your thoughts and experiences. GENERAL INFO The property is: 1) Out of state 2) A single family buy and hold rental 3) In good condition 4) Occupied by a tenant 5) My first investment property The quotes are from: 1) An insurance broker in my home state (CA) who typically uses Safeco 2) An insurance broker in the property’s state (Ohio) who quoted Berkshire Hathaway Guard 3) One of the big name insurance companies, located in the property’s state (Ohio) Any questions (replacement cost vs actual cash value, etc) I should be aware of and asking? Are there pros and cons to working with a broker versus an agent at a company, or them being based in the property’s state or my home state? Thank you for your input! Sammy