Advice on Property Insurance Coverage For Rentals

[Braden Moojalsky]

As I've started to analyze some properties I have wondered how others out there think about insurance. What kind of insurance do you all feel is an absolute must and what additional coverage is worth paying for (ex. loss of rent, vandalism, etc.). Also, when analyzing deals how do you typically estimate the cost of insurance for the deal? I've heard of some just using a % of the deal value, but would be helpful to hear some actual methodology from some experienced folks out there.

I'd appreciate any insight on this subject!

[Michael King]

I have 5 SFRs right now; they're all on the same policy with American Family. They have a new business product out that allows me to add properties to the same policy. On $200K properties, the premium for each runs around $555. I'm going to add a 4 plex in January which will add $1500 to the annual premium.