Am I paying too much on my insurance?

[Yaron Avidan]

Hi all,

I have one rental in the DFW area, TX.

The house is worth about 140K. The landlord insurance is $135 a month with Safeco. 

This year there was a pipe leak under the foundation which the insurance wouldn't cover.

In all the deal analysis I have seen, the insurance is always much cheaper.  What am I missing here, and am I paying too much?

Thanks in advance,

Yaron