Homeowners insurance for rentals

[Mel Park]

The only (2) units I've owned thus far have mortgages on them, and therefore homeowner's insurance.

My next few purchases will be cash - - but I can't imagine not placing homeowner's insurance on that - am I right?

Is there insurance for rentals with no mortgage? Any guesses as to how much it is for 3bed/2bath SFH in Atlanta?

This is the 3rd time I tried entering stuff in on the Lemonade site and each time at the end there's a reason they don't insure something. This time it was "at this time we don't insure homes with no mortgage" - it's nice of them to tell you that *after* you've entered in every piece of information :)

[John Mocker]

Mel,

Generally Dwelling Fire policies are more than Homeowners policies (generally more claims on non-owner occupied properties.  

Even if the two properties are in the same town, the quotes could differ from different carriers due to age, fire protection, value, etc. So it could be less expensive to split them in two agencies but it be more work for you to deal with multiple agents.  Also, the best price may not be the best solution for you.  If one of the agents has more experience in the rental market, has more carriers, can handle commericial Insurance (ie for larger properties), etc.  that may factor in.

I forgot to mention in my earlier post, if there is a chance that the building codes/zoning laws in the locations have changed you should discuss Ordinance & Law coverage with the agents to cover the additional costs to rebuild if the changes require it.