Milwaukee Duplex Rental Insurance

[Brandon V.]

Hi All,

Just got off the phone with an insurance agent and he did not really clear things up as to what I will need for landlord insurance.  The property I am considering built around 1920's, in a B- area, has a roof that's 15 years old, around 1800 sq ft, is a duplex with no real major problems to the building, porch, electric, railings, etc.  The property is around 140k and the agent was going to run the numbers exactly but from doing this "all the time" he estimated that it would be 1400-1500 a year for coverage.  Does this sound remotely close?  If some that does eat into my cashflow as I was expecting a monthly cost around 60 not 125.  He mentioned several types of insurance including a 300k liability coverage and maybe adding on an umbrella package in addition to that 1500.  So I guess I'm just confused as to what to get and the relative cost associated with it.  Thanks.

Brandon