Buying 1st ever investment - a 4PLEX - need insurance guidance!

[Vibhu Arya]

I'm looking to close the escrow in the next 3 weeks. This rental property title will be under a newly established LLC and I'm going through the loan procurement currently. Need guidance as I'm confused:

1) what all insurance should I consider for safeguarding- I have heard about - business owner insurance, property insurance & landlord insurance? On the top an Umbrella Policy?

2) What is a reasonable limit? It's a $425K purchase price. Some say 2mil /4mil etc

3) What all things should I look out for when comparing insurances from one quote to another?

4) Any recommendations - insurance companies or agents? I don't want to spend as it comes out of my cashflow at the same time want to be able to sleep at night.

Thank you in advance !!!

[Bjorn Ahlblad]

Most of my insurance is from Farmer's. I have been well served by them. I'm sure there are several offices in your city. For liability insurance cover you assets. If your net worth is 2 million get two million etc. 

You want a company that is price competitive and pays claims. Never buy the cheapest. Check feedback online.