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Updated over 1 year ago, 08/12/2023
insurance for condo rental property?
Hello Community. Newbie investor is here.
I am confused what type of insurance policy should I buy as a landlord for a condo that I am planning to rent it out.
The condo is under HOA and there is a master insurance policy by the HOA.
I got an insurance quote from my insurance agent as shown below with a yearly premium of < $200.
I am just puzzled why it's cheap as I thought it would cost me about at least $1k for a year..
Can anyone give me some idea how the condo insurance works ?
How would this quoted insurance work with the master insurance policy by HOA? Do I even need this one on top of the master insurance policy?