Insurance costs estimates

[Eliana Posada]

Hello everyone! I am just starting my education as a Real Estate Investor. I just did my first property analysis :-) The majority of the information asked was quite easy to find, but the insurance costs. 

I would love to hear your experiences and methods on how to estimate insurance costs! 

Thank you very much!

Have a great week! :-)

[Greg Scott]

Step 1) Call your insurance broker.  There really is no step 2.

Generally you will find that insurance in any one area or property type does not change a lot from building to building.  You can change the premiums more by electing different coverages.  Insurance for rental property is generally cheaper than for your own home because you do not cover the tenants' belongings.