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Updated almost 11 years ago on . Most recent reply

User Stats

19
Posts
4
Votes
Brandon S.
  • Irvine, CA
4
Votes |
19
Posts

Property Insurance for Rental Property?

Brandon S.
  • Irvine, CA
Posted

Hi all,

Shopping around for property insurance for a rental property... looking for recommendations on policy limits and features to look for!

Here are some basics on the property: Single Family Home, one story, 3BR/1.75BA, attached 2 car-garage, ~1100 sq ft., built in 1980, no pool.

Would love to answers to the questions below (in addition to whatever else you guys may have tucked away in your brains!):

  • What type is recommended? (I've heard HO-3 being common?)
  • Is replacement-cost insurance recommended on a rental?
  • Lots of quotes I have gotten don't cover personal property at all, since it's a rental, I'm thinking that's fine?
  • Loss of use - what recommendations here on policy limits (based on rents at about $2200/month)?
  • Medical is only $1000/person on all my quotes. Is this good enough?
  • Liability is about $300k on most of my quotes. Is this good enough?
  • What companies are known to be extremely painful to deal with when making a claim?
  • What are some small things to look for in the fine print that could be a deal breaker?
  • Recommended deductible: $1,000 or $2500 ?

That's all I have for now. Thanks in advance!!!

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