Insurance questions - SE Wisconsin only (Milwaukee area)

[Nate Cade]

Fellow Milwaukee landlords - I recently purchased a duplex on Milwaukee's southside (actually, two single family homes on same lot, very common in that area). Happy with the tenants I inherited and am doing some reno.

My issue is that I had my agent obtain insurance for both properties - I was quoted $2300 for one property (2 bed, 1 bath) and $2600 for the other (4 bed/1 bath). Rents right now are $715 and $750 (will raise when I can). Both houses were built circa 1895. 

My agent tells me these are standard prices, but it seems really high for insurance on a rental. I did purchase full replacement cost for insurance, rent protection and $500 premises liability and $500k for landlord protection (in an LLC, though).

Thoughts on cheaper insurance?? Time to dump my agent??

[Jason Bott]

@Nate Cade those are definitely not "Standard prices".  Crime rating, personal credit and how broad the coverage is can push it to that limit, but I would think you can get that pricing down close to half without taking on much more additional risk.

Options can be on both commercial and personal lines policy, depending on what your lender needs.

I'll send you the carriers we use for pre 1900.