Insurance spec questions in Carlifornia - duplex,

[Susan O.]

Hi we have some rentals in southern California.  Rental single houses, duplexes, triplexes, quads

I am planning to overhaul all insurance- I have State Farm and I think they charge a lot but I have nothing to compare for Rental house and small units insurance.

I was wondering what you generally get on dwelling?  Cost of rebuilding? Like if building is worth $300k would you insure for Dwelling at $300k total or do some lesser percentage

Also for Business Liability/ rental liability what are you generally insuring on lets say a rental duplex or a rental house?

I am just doing Business Liability (per occurrence) $500k then there's 2nd part that says (annual aggregate $1M).  Medical payments to others is just $1,000.

  Is that pretty standard?

Annual premium for instance for a SFR is $300 for insuring $130k dwelling. Some duplexes are about $500-600 per year. Is that pretty standard?

We have a net worth of about $3-5M in property

[Josh Cuthbertson]

I just recently did this, with State Farm in fact. I elected to do the same value as the current building. 

As for the business liability, I chose a higher medical payment to others, but also have the 500k / 1m. (Think about them falling down, hitting their head on a corner dresser, and needing stitches. Their premium is probably WAY higher than 1k, unless they have outstanding insurance, which these days isn't usually the case.)

Your annual premium sounds standard to what I received. 

I believe you are correct that State Farm is not the cheapest you can receive. But I like my agent, their customer service, and their coverage so I chose to stick with them.