Increase in insurance

[Dwayne Buckner]

Forum friends,

I am looking into renting out one of my private homes. I am currently collecting quotes on insurance to cover tenants. The liability, as anticipated, increases. Sure I understand lawsuits etc., but is there a typical percent increase that experienced REIs figure, when changing insurance from a private residence to a rental? The quotes I am getting so far are much higher than I anticipated.

Thanks,
Dwayne