Insurance on your $30k PigCow?

[Jay Helms]

Hot topic here on BP is the validity of $30k properties. I have one that is a cash-cow and wish I had 1,000 just like it. I've heard $30k properties referred to as pigs, hence PigCow.  My question is this, for those of you who have a $30k PigCow in your portfolio, do you carry insurance on it?  Assuming this is an elective option for you, would you ever consider it and why/why not?  At what levels do your maintenance & capital expense funds have to reach before eliminating the monthly costs of insurance?

[Patrick L.]

I carry a commercial policy with about 40 properties under a single policy.   I have a wind exclusion on those properties which puts more risk on me but takes the cost down to about 30% of what you'd pay for a policy through someone like Citizens on Florida property.   I think I pay like $11k for property coverage and $4k for $1M/2M liability and another $1.4k for my additional umbrella liability  policy on 40 properties.   I'd be willing to give up property coverage but I would always max out on liability insurance.  I can deal with losing a property and it wouldn't effect me but a big liability claim can wipe you out.