Home Insurance Coverage for South Florida House Hack

[Benjamin Schenk]

I'm in the process of finalizing my first deal, a duplex in the Palm Beach County and am ready to get a few insurance quotes. I'm using an FHA loan and will be living in one side of the duplex. My question is two-fold and I'm hoping some of you serious investors can provide me some insight into what I should be looking for when insuring the property.

First, what types of and how much coverage should I be looking for (I definitely don't want to "over"-insure andam wanting to keep my deductable somewhere around 2-4%? The property will not be in an LLC as I am not able to do so with an FHA. Should I be purchasing an landlord umbrella policy as well? If so, what should I be including in it? As I said, I'll be living in one side and the other side will be tenant occupied.

Second, anyone recommend any good local insurance brokers or providers?

Thanks in advance for any advice!