Mobile home insurance

[Jonah Walker]

Hello everyone!

I am a first time home buyer and first time real-estate investor. I am purchasing a nice 3/2 mobile home from my grandparents and plan on renting it out. 

I am in the process of getting insurance quotes on it and am having a hard time finding a decent company. There's also so many coverage options and I'm not sure exactly what to look for or what to get. 

I have gotten 4 quotes so far and the premium ranges from $640-$1,000 a year.

I'm purchasing the property for $60k although market value is about $95k.

Not sure how much coverage I should have on it. And having trouble understanding each part of the quote.

Any help would be greatly appreciated!

[Joseph Byrnes]

I would also add that your leasing agreement includes that the renter is required to carry renters' insurance.