Property Insurance resources?

[Mark Spivey]

Hi everyone, I am new here and new to RE investing.

I intend to buy and hold turnkey single & multi-family rental homes. I am still trying to learn all I can before pulling the trigger on my 1st purchase.

One thing I don't seem to find much good info on is insurance.

I do plan on placing each of my properties in an LLC.

What kind of insurance should I get? I read about mortgage insurance, landlord insurance, hazard insurance, homeowners insurance with and without umbrella policies, replacement costs, etc. It's all rather confusing.

What sort of insurance coverage do I need? How much can I reasonably budget for insurance costs?

If anyone could just point me to a good book or other resource that explains all the different types and pros/cons of insurance for buy&hold rental landlords I would be very appreciative.

Thanks in advance!

[Rob K.]

Scott W. I don't think my policy changes much between vacant or occupied. I get one bill each month and all of the houses are on the same policy. It doesn't fluctuate much.

When I had individual policies on each property, the vacant coverage was a lot more expensive.