How much should insurance cost?

[Adam Bradley]

I'm looking at a potential first property. It is a single-story duplex on a crawlspace. It is worth about $100k. It has vinyl siding and is on about a 1/3 acre lot.

I asked ISG for a quote and sent to them the listing only (no one has been onsite to check out the duplex).

This is what I was given as a first quote:

Total annual premium $2,111.52

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1. DWELLING FIRE COVERAGE

COVERAGE LIMIT DEDUCTIBLE VALUATION

COVERAGE Building, LIMIT$ 250,000, DEDUCTIBLE $1,000 (all perils), VALUATION Replacement Cost

COVERAGE Other Structures, LIMIT $25,000, DEDUCTIBLE $1,000 (all perils), VALUATION Replacement Cost

COVERAGE Fair Rental Value, LIMIT $ 25,000

COVERAGE Vandalism & Malicious Mischief Coverage is included

2. LIABILITY COVERAGES

COVERAGE Premise Liability, LIMIT $500,000

COVERAGE Medical Payments to Others - $ 5,000

Payment Options:

Annual Paid in Full $2,111.52

Monthly $ 410.23 down payment with 10 monthly payments of $ 183.50

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Are these numbers about what you would expect for a (2-unit) duplex?

[Steve DellaPelle]

@Adam Bradley This seems high to me...I am paying just under $750/unit for my 4-unit and my coverage is similar to yours but actually a little better.

I would definitely keep receiving more quotes before you settle on one.

Cheers!