Insurance costs? What kind?

[Michael Eastland]

I hope I put this in the correct forum, admin you can move it if needed. 

I have a 3 bedroom house in New Hampshire that I want to use for mostly ski rentals as there is a ski area nearby. In a perfect world I would get a tenant who would rent for the entire season rather than just weekly or weekend rentals.  I would also have limited summer rentals, want to keep it for y own use most of the time.

Question, Homeowners, landlord, insurance..

When I was not renting the house my homeowners was just under $800.  In trying to do the right thing I sought a policy that would be appropriate for a rental property.  My insurance agency seemed a little puzzled about landlord insurance then came up with a Policy from Lloyd's of London that was over $2000!  Yikes!  I paid it because I figured that I was kind of stuck and needed to have the proper coverage.

Well, now the renewal has arrived and it is more than $2000 again.  It makes no sense for me to pay this much, I may as well get out of the market.

What do y'all do for insurance and should it cost so much?  Is there a such a thing as landlord insurance?  Can you recommend a company that won't want $$$$$$$$$.    Thanks, ME

[Richard Dale-Mesaros]

Talk to Tim Norris, the CEO of National Real Estate Insurance Group - they insure empty rehab properties so no doubt rentals as well - he has had a fair amount of involvement with REIA groups around the country.... great guy, too! :)