need insurance options

[Daria B.]

Hi,

I need some guidence.

Insurance premiums are beyond ridiculous here in FL.

What alternatives are there besides full coverage on a rental with no mortgage/note?

It would not be prudent of me to not want some kind of coverage for damages to the property given the investment being made on the property and it's value. 

I know some people that have property free and clear don't care if they lose it and only carry liabliity insurance to protect against accidents on the property, medical or legal bills, etc.

Do I have no other recourse but to carry full coverage? I do have an umbrella policy to cover all my assets but that has nothing to do with what replacement cost is to having full coverage on a property.

Thanks

Daria