Property insurance on a purchased foreclosure

[Jay Helms]

I'm under contract for a 1 / 1, <600 sq ft SFR foreclosure in downtown Pensacola, Florida ( ARV = $50k). Being my first foreclosure purchase, I've contacted my typical insurance providers for quotes. The quotes range from $1500-3500 annually. More than I pay for 3 / 3.5 townhouse in a flood zone...? I have provided the 4-point & wind mitigation reports from my home inspection on this foreclosure to the prospective insurance carriers - both in good standing.

You guys who purchase foreclosures for the purpose of hold & rent, who do you use for landlord / property insurance?

Thanks in advance,

Jay Helms