Homeowner Insurance for Rentals and Primary

[Stefan Shirley]

Insurance Problem: I'm struggling to understand what I actually need for property insurance. I have three single-family rental properties (IA, IN, MO) and my primary single-family home (VA).

My IA home is paid off and valued at $160K; my IN home is in an LLC, 50% paid off, and valued at $240K; my MO home is newly renovated, 25% paid off, and valued at $150K.

I've called a number of insurance companies for quotes but they vary widely for each property. I'm also not sure what I need to get for coverage. And because of my net worth, I'm told I should have an umbrella policy. I'd like to bundle everything (to include auto) with one company if feasible.

The latest quote for my primary home is from the app Lemonade and was 50% less cost than my current provider USAA and they appear to offer the same coverage.

To make matters more confusing. I'm also trying to find auto insurance. My wife has a car but I don't. I just rent a vehicle when needed but want insurance to cover me when I rent.

Any advice on what I can read or where I can learn more? Many of the "Insurance" discussions on Bigger Pockets are outdated and don't talk about the use of new AI powered insurance (if that's even worth discussing).

Intelligent help would be greatly appreciated.