Will I have a claim?

[Ryan Moore]

Ok, dumb question because I know there isn't a answer.  I'm trying to evaluate deducible vs premium quotes.  I'm about to close on a 4-unit multifamily in Phoenix.  I've personally have never had to file an insurance claim on my personal home.  What can I expect from being a landlord for this MF property now?  I know there are so many variables, but I'm just curious if, on the average, should I be expecting to file some claims?  The building is probably a B- to B property.

[Casey Miles]

Hi Ryan,

I too have never filed on my personal property and just now have filed my first on a rental. I've owned rentals since 2010. When I contacted my agent she seemed surprised that I've never had a claim on any of my properties leading me to beleive most people have them with more frequency. 

Personally I'd have the agent quote the same coverage @ $500 and $1000 deductibles and do a quick ROI on the difference between the two premiums. If I make my money back in <4 years I'd take the higher deductible, >4 years the lower the deductible.

I use State Farm for my single family and duplexes and Farm Bureau for my fourplexes.

Hope this answers your question,

Casey