Rental House Property Insurance

[Dennis King]

I own rental homes in Kansas and Missouri. $800 is what I pay in Kansas for property insurance a 3 or 4 bedroom with 2 or 2.5 baths home around 1500 square feet . These are nice solid A neighborhoods.

In Missouri, a 1,000 square foot 3 bedroom, one bath costs $1300 a year for property insurance. This is almost twice for a home value that is half. 

Any ideas how I can get affordable insurance in Missouri?

[Aaron Brown]

depending on the type of insurance you want, you could lower your rate by going with a lower cash value replacement rather than insuring at full rebuild cost. (I.e insure the rental for what you bought it for, let's say 50K. Rather than insuring it for what it would cost to rebuild if there was a total loss, let's say 100 k)

Ask your insurance broker about this option. Also I found Farmers Insurance to have the best rates when I shopped around last year. Try Colby Yoder Farmers Insurance, ask for Taylor ludlam and mention my name. Taylor is very quick to respond, very helpful, and that's who I use for all my rentals... Well most of my rentals. Good luck!