Insurance Policy On First House Hack Duplex

[Casey Eberly]

Hi there,

I am in the process of closing on my first duplex that will be used as a primary residence for 1yr before becoming a full rental property! The purchase price is 225K and property was built in 1910 around the Harrisburg, PA area. Before I purchase an insurance policy I wanted to seek some guidance on the best way to proceed.

I received 1 quote so far for a HO3 policy that has 600k+ of dwelling coverage, 70k of additional structure, 450k personal property, 200k loss of use, 500k liability, and a few extras like equipment breakdown, water backup, service line. The policy comes to $2100 for the year. Is this reasonable and is it normal to have 3x the dwelling coverage of purchase price or am I being sold more policy than I need.

Still waiting to hear back on a few other quotes to compare from some other providers.